Raptopoulos Andreas 4
4 · Matternet, Inc. · Filed May 27, 2026
Research Summary
AI-generated summary of this filing
Matternet CEO Andreas Raptopoulos Receives Award in Merger
What Happened
- Andreas Raptopoulos, CEO of Matternet, was granted/received a total of 8,377,112 shares on May 22, 2026 in connection with the issuer’s merger with Legacy Matternet. The filing shows one grant of 5,928,335 shares (issued shares) and three derivative awards of 1,200,227; 645,316; and 603,234 shares. The derivative entries are reported with a $0.00 per-share exercise price in the filing (i.e., reported as derivative awards), and no cash value is shown in the Form 4.
Key Details
- Transaction date: May 22, 2026 (reported on Form 4 filed May 27, 2026). Filing appears timely.
- Price reported: one stock grant listed as N/A; three derivative awards listed at $0.00 exercise price in the filing.
- Total shares received/awarded: 8,377,112 shares.
- Shares owned after transaction: not specified in the summary data provided.
- Notable footnotes from the filing:
- F1: The 5,928,335 shares were issued in exchange for Legacy Matternet common stock pursuant to the Merger; each Legacy share converted into 2.0801 shares of the issuer.
- F2: Vested and unvested options outstanding immediately prior to the Merger were assumed and converted by the issuer (exercise price adjusted by the conversion ratio).
- F3–F5: The converted option/award tranches carry different vesting schedules (e.g., 25% after one year then monthly over 36 months; 24-month monthly vesting; 48-month monthly vesting).
- No 10b5-1 plan, tax withholding, gift, or sale noted in the provided details.
Context
- These transactions are merger-related awards and option conversions, not open-market purchases or sales. The derivative entries reflect options/awards converted/assumed under the Merger Agreement and are subject to vesting schedules described in the footnotes. Such awards typically reflect equity conversion and retention arrangements tied to the merger rather than immediate trading or disposition by the insider.
Insider Transaction Report
Form 4
Matternet, Inc.NONE
Raptopoulos Andreas
DirectorChief Executive Officer
Transactions
- Award
Common Stock
[F1]2026-05-22+5,928,335→ 5,928,335 total - Award
Employee Stock Option (right to buy)
[F2][F3]2026-05-22+1,200,227→ 1,200,227 totalExp: 2028-12-23→ Common Stock (1,200,227 underlying) - Award
Employee Stock Option (right to buy)
[F2][F4]2026-05-22+645,316→ 645,316 totalExp: 2033-11-18→ Common Stock (645,316 underlying) - Award
Employee Stock Option (right to buy)
[F2][F5]2026-05-22+603,234→ 603,234 totalExp: 2034-12-19→ Common Stock (603,234 underlying)
Footnotes (5)
- [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.
- [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 according to the following schedule: 25% of the shares subject to the option shall vest on the first anniversary of the vesting commencement date, and the remaining shares shall vest in equal monthly installments over the next 36 months.
- [F4]The shares subject to the option shall become vested and exercisable in 24 equal monthly installments from the vesting commencement date.
- [F5]The shares subject to the option shall become vested and exercisable in 48 equal monthly installments from the vesting commencement date.
Signature
/s/ Jason Benjamin Secore, Attorney-in-Fact|2026-05-27