Freenome (FRNM) 10% Owner Perceptive Converts 2,066,250 Derivative Shares

What Happened

• Perceptive Capital Solutions Holdings (a reported 10% owner) converted 2,066,250 derivative securities into 2,066,250 shares of Freenome common stock on July 20, 2026. The Form 4 records both an "Acquired" conversion and a corresponding "Disposed" derivative entry for the same amount; no cash price or proceeds are reported (price = N/A).
• This conversion was tied to Freenome's closing of its business combination on July 20, 2026, which converted Class B ordinary shares into Class A and then into common stock (see footnote F1). This is not an open-market purchase or sale.

Key Details

• Transaction date: July 20, 2026; Form 4 filed July 23, 2026.
• Shares converted: 2,066,250 (conversion of derivative security). Reported price: N/A (non-cash conversion).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote F1: Conversion occurred in connection with the issuer's business combination closing on July 20, 2026 (Class B → Class A → Common Stock).
• Footnote F2: The reporting entity is governed by a two-person board (Adam Stone and Michael Altman) who have voting/investment discretion over the securities held by the reporting person.
• Filing timeliness: filing date is July 23, 2026 (three days after the transaction); the filing itself does not specify a late-filing code in the provided excerpt.

Context

• This was a derivative-to-stock conversion related to the company’s business combination, not a market trade — no cash changed hands and it does not represent an independent buy or sell decision in the open market.
• As a 10% institutional owner, Perceptive’s conversion reflects corporate transaction mechanics rather than personal insider trading by an individual executive.