Martin Gregory Scott 4/A
Research Summary
AI-generated summary
Ionetix Director Martin Scott Receives Merger Awards
What Happened
Martin Gregory Scott, a director of Ionetix Corp., was granted and received multiple equity instruments on April 9, 2026 in connection with the closing of Ionetix’s merger. The filing reports roughly 498,544 shares or share-equivalents in total (including common shares, converted preferred-stock equivalents, stock options and warrants). Most grants were the product of converting Legacy Ionetix securities and option/warrant awards into Issuer securities per the Merger Agreement; one small derivative line (193 shares) shows an exercise price of $0.00.
Key Details
- Transaction date: April 9, 2026 (all reported grants/acquisitions). Filing date (amended): May 13, 2026 (this Form 4 is amended and was filed after the transaction date).
- Reported amounts: 180,291; 123,767; 18,803; seven grants of 25,070 each (175,490 total); and 193 @ $0.00 — total ≈ 498,544 shares/equivalents.
- Prices: Most entries list N/A (received as part of the merger conversion); one derivative shows $0.00. No cash purchase price reported.
- Ownership after transaction: Not stated in the provided excerpt of the filing.
- Notable footnotes:
- F1/F5: Most securities were received in connection with the Merger (Legacy Ionetix converted at a 0.5014 ratio).
- F2–F3: The 123,767 shares are held of record by Shamrock Ionetix LLC; Scott disclaims beneficial ownership except for his pecuniary interest (Shamrock voting power is held by another party).
- F4/F6–F8: Several awards are stock options with varying vesting schedules (some fully vested/exercisable; others vest monthly over 48 months with a one-year cliff).
- F9: A warrant assumed in the merger is fully vested and exercisable.
- Filing timeliness: The Form 4 amends prior reporting and was filed more than a month after the Apr 9 transactions (indicates a late/amended filing).
Context
These transactions are primarily conversion and assumption of Legacy Ionetix equity, options and warrants into the public Issuer’s securities as part of the merger—this is an administrative transfer rather than an open‑market purchase or sale. Several items are derivatives (options/warrants) with different vesting terms; some are fully vested/exercisable while others continue to vest monthly. The reporting person’s beneficial ownership of the Shamrock‑held shares is limited to his pecuniary interest (per the footnote). This amended Form 4 corrects or supplements the original report and was filed after the transaction date.