Electra Therapeutics (ETRA) CTO Gary S. Koe Receives 63,656 Shares via Conversion

What Happened
Gary S. Koe, Chief Technical Officer of Electra Therapeutics (ETRA), is reported as acquiring 63,656 common shares on 2026-09-21 through the conversion of a derivative security (Series A Convertible Preferred Stock) upon the company's IPO. The Form 4 shows a corresponding disposition entry for 63,656 shares of the derivative (the preferred) — this reflects the termination/conversion of the preferred into common stock rather than an open-market sale. No price per share or cash was involved (reported as N/A).

Key Details

• Transaction date: 2026-09-21 (conversion upon IPO)
• Transaction type: Conversion of derivative security (code C); acquisition of 63,656 common shares and disposition/termination of 63,656 preferred-share derivative
• Price: N/A — conversion occurred without additional payment
• Shares owned after transaction: not specified in this filing
• Footnote: The Series A Convertible Preferred automatically converted 1-for-1 into common stock upon the IPO (footnote F1). The Preferred had no expiration date.
• Timeliness: Filing shows the same report and transaction date (2026-09-21), indicating a timely report

Context
This was a conversion event (preferred → common) tied to the IPO, not a purchase or sale in the open market. Conversions like this are routine when preferred stock is structured to convert on an IPO and do not by themselves signal insider buying or selling intent.