Marton Laurence 4
4 · Matternet, Inc. · Filed May 27, 2026
Research Summary
AI-generated summary of this filing
Matternet Director Marton Laurence Receives Awarded Shares
What Happened
Marton Laurence, a director of Matternet, reported receipt of equity in connection with the issuer's merger with Legacy Matternet. The filing shows a direct grant of 52,003 shares and three derivative awards (listed as awards/assumed options) covering 266,488, 181,898 and 41,602 shares (totaling 489,988 derivative shares). Combined, the reported items equal 541,991 shares. The derivative items are reported at $0.00 per share in the filing.
Key Details
- Transaction date: May 22, 2026; Form 4 filed May 27, 2026 (filed after the transaction date; may be later than the 2-business-day Form 4 filing rule).
- Reported items: 52,003 shares (direct grant) and 266,488 / 181,898 / 41,602 derivative-share awards (total 489,988 derivative shares). Grand total reported: 541,991 shares.
- Reported price: Direct grant shows no per-share price; derivative awards listed at $0.00 per share in the filing.
- Shares owned after transaction: Not disclosed in the provided filing.
- Footnotes of note:
- F1: Shares were received in the Merger pursuant to the Merger Agreement; each Legacy Matternet share converted into 2.0801 shares of the issuer (rounded to nearest whole share).
- F2: Outstanding Legacy Matternet options were assumed and converted into options reflecting the Conversion Ratio; exercise prices were adjusted per the Merger Agreement.
- F3/F4: Converted options carry vesting schedules (some vest in 48 equal monthly installments; others in 24 equal monthly installments from the vesting commencement date).
Context
These entries are merger-related awards and conversions (transaction code A = award/grant). The derivative items reflect assumed/converted options rather than open-market purchases or sales; vesting schedules mean many of these shares will vest over time rather than immediately. The filing does not disclose immediate sales or cashless exercises. Because this is a merger-driven equity conversion and option assumption, it reflects corporate transaction mechanics rather than a straightforward insider purchase or sale.
Insider Transaction Report
- Award
Common Stock
[F1]2026-05-22+52,003→ 52,003 total - Award
Director Stock Option (right to buy)
[F2][F3]2026-05-22+266,488→ 266,488 totalExp: 2028-10-30→ Common Stock (266,488 underlying) - Award
Director Stock Option (right to buy)
[F2][F4]2026-05-22+181,898→ 181,898 totalExp: 2033-10-12→ Common Stock (181,898 underlying) - Award
Director Stock Option (right to buy)
[F2][F3]2026-05-22+41,602→ 41,602 totalExp: 2034-12-19→ Common Stock (41,602 underlying)
Footnotes (4)
- [F1]Received in connection with the Issuer's merger (the "Merger") with Matternet, Inc. ("Legacy Matternet") in accordance with the terms of the Agreement and Plan of Merger and Reorganization dated as of May 22, 2026, by and among the Issuer (f/k/a Los Altos Ventures Corp.), Matternet Acquisition Co. and Legacy Matternet (the "Merger Agreement"), in exchange for shares of Legacy Matternet common stock. Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, each issued and outstanding share of Legacy Matternet common stock was converted into the right to receive 2.0801 shares of the Issuer's common stock, rounded to the nearest whole share (the "Conversion Ratio").
- [F2]Each vested and unvested option to purchase shares of common stock of Legacy Matternet outstanding immediately prior to the effective time of the Merger was assumed by the Issuer and converted into an option to purchase shares of common stock equal to the product of (a) the number of shares of common stock subject to such option immediately prior to the effective time of the Merger and (b) the Conversion Ratio, at an exercise price per share equal to (i) the exercise price per share of such option immediately prior to the effective time of the Merger divided by (ii) the Conversion Ratio.
- [F3]The shares subject to the option shall become vested and exercisable in 48 equal monthly installments from the vesting commencement date.
- [F4]The shares subject to the option shall become vested and exercisable in 24 equal monthly installments from the vesting commencement date.