Electra Therapeutics CEO Dong Converts Preferred into 455,484 Shares

What Happened
Dong Quehuong (Kathy), President & CEO and Director of Electra Therapeutics (ETRA), converted Series A Convertible Preferred Stock into 455,484 shares of common stock on September 21, 2026. The Form 4 shows two linked entries: one reporting the acquisition of 455,484 common shares via conversion and a companion entry reporting the disposition (termination) of the corresponding derivative (the Preferred Stock). No cash was paid in the conversion (price listed as N/A).

Key Details

• Transaction date: 2026-09-21 (reported on same date). Transaction code: C (conversion).
• Shares received: 455,484 common shares; price/consideration: N/A (automatic conversion).
• Restricted shares: 73,147 of the shares are subject to vesting — 1/13th vests monthly beginning Sept 16, 2026 (Footnote F1).
• Conversion mechanics: Each share of Series A Preferred converted automatically into 1 share of common upon the company’s IPO; Preferred had no expiration (Footnote F2).
• Shares owned after transaction: Not specified in the filing.
• Timeliness: Filing date equals transaction date (no late filing indicated).

Context
This was not a cash purchase or sale but an automatic conversion of preferred stock into common stock tied to the company’s IPO—commonly reported as both an acquisition of common shares and a disposition of the derivative (the preferred). Such conversions do not necessarily signal buying or selling intent by the insider; the restricted-share vesting schedule is the primary continuing limitation on a portion of the shares.