Kalayoglu Murat 4

What Happened
Murat Kalayoglu, reported as a 10% owner of Cartesian Therapeutics (RNAC), effected a derivative conversion on April 2, 2026. A trust for the benefit of his spouse and children converted 758,001 shares of the issuer’s Series A Non‑Voting Convertible Preferred Stock into common stock (reported as an acquisition via derivative exercise/conversion). On the same date the filing shows a disposition of 22,740.03 derivative shares. No purchase or sale prices were disclosed on the Form 4 (listed as N/A).

Key Details

• Transaction date: April 2, 2026; Form 4 filed April 6, 2026 (filed within SEC two-business-day window).
• Primary transactions reported: +758,001 shares acquired via conversion (code M); 22,740.03 shares disposed (derivative).
• Prices/values: Not disclosed on the form (N/A).
• Shares owned after transaction: Not specified on the filing.
• Notable footnotes:
  • F1: The Trust (for spouse/children) elected to convert a portion of its Series A preferred into common stock; remaining preferred shares held by the Trust are subject to a beneficial ownership limitation.
  • F2: Shares are held by the Trust for the benefit of the reporting person’s spouse and children; the spouse is a trustee.
  • F3: These securities trace to merger consideration and a private placement tied to the issuer’s November 2023 merger and financing.

Context

• The transaction is a conversion of preferred stock into common stock (derivative exercise/conversion), which is typically a non‑cash corporate/contractual event rather than an open‑market purchase or sale.
• As a 10% owner, Kalayoglu’s filings reflect beneficial ownership rules for large holders rather than routine executive compensation trading.
• Because no price is reported, market‑value implications aren’t provided by the Form 4; the filing is informational about ownership changes and the Trust’s conversion decision.