BlossomHill (BLSM) Director Sundeep Agrawal Converts Preferred, Receives Award

What Happened

• Sundeep Agrawal, a director of BlossomHill Therapeutics (BLSM), reported derivative-related activity tied to the company's IPO. The Form 4 shows an automatic conversion on Aug 10, 2026 of 578,524 shares of Series B Preferred into common stock (no cash exchanged). The filing also reports a grant/award of 23,904 derivative shares on Aug 6, 2026 at $0.00. The conversion entries include both an “acquired” and a matching “disposed” derivative entry for 578,524 shares on Aug 10; the report records these as conversion/disposition of derivative securities (no dollar value reported).

Key Details

• Transaction dates: Award/derivative acquisition reported Aug 6, 2026; conversion(s) of derivative securities reported Aug 10, 2026.
• Share counts: 23,904 shares awarded at $0.00; 578,524 Series B Preferred reported converted into common on Aug 10, 2026.
• Prices/values: Award at $0.00; conversions listed as N/A (no cash consideration paid on automatic conversion).
• Vesting: The award/option appears subject to vesting — 1/36th vests monthly over three years beginning Aug 6, 2026 (per footnote).
• Record ownership/beneficial ownership: The securities are held of record by Brahma BlossomHill Partners, LLC. Agrawal is founder/managing partner of the manager and may be deemed to have voting/investment power, but he disclaims beneficial ownership (per footnote).
• Filing: Form 4 filed Aug 10, 2026 (reporting period includes Aug 6 and Aug 10 transactions). The filing does not indicate a 10b5-1 plan or tax-withholding sale.

Context

• The 578,524-share entry reflects automatic conversion of Series B Preferred into common stock upon the closing of the issuer’s IPO (no additional payment required), per the filing footnote. For retail investors, such automatic conversions are routine corporate-capital-structure events and do not by themselves indicate a buy/sell decision by the insider.
• The 23,904-share award is a derivative grant with multi-year monthly vesting, which is typical for retention/compensation and signals future vesting-based ownership rather than an immediate market purchase.