Aclaris insider fund sells 300K shares at $4.53
Aclaris Therapeutics, Inc. insider-related entity executes open-market sale.
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Form Type
4
Rhea-AI Filing Summary
Aclaris Therapeutics, Inc. insider-related entity executes open-market sale. On behalf of BML Investment Partners, L.P., a fund associated with ten percent owner Michael Leonard, 300,000 shares of Aclaris common stock were sold in an open-market transaction at $4.53 per share. Following this sale, the fund’s indirect holdings reported as beneficially owned by Mr. Leonard totaled 13,950,000 shares, which he reports with a disclaimer of beneficial ownership except to the extent of his pecuniary interest.
Insider Trade Summary
Net Seller: 300,000 shares
Net Sell
1 txn
Insider
Leonard Braden Michael
Role
10% Owner
Sold
300,000 shs ($1.36M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 300,000 | $4.53 | $1.36M |
Holdings After Transaction:
Common Stock — 13,950,000 shares (Indirect, Holdings of BML Investment Partners, L.P.)
Footnotes (1)
- F1. BML Capital Management, LLC ("BML Capital") serves as the general partner of BML Investment Partners, L.P., a Delaware limited partnership (the "Fund"), which is the direct owner of the subject shares. Mr. Leonard is the managing member of BML Capital, and exercises investment and voting control over the subject shares. Accordingly, shares owned directly by the Fund may be regarded as being beneficially owned by Mr. Leonard. Notwithstanding, Mr. Leonard disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
Key Figures
Shares sold: 300,000 shares
Sale price: $4.53 per share
Shares held after sale: 13,950,000 shares
+1 more
4 metrics
Shares sold
300,000 shares
Open-market sale of Aclaris common stock
Sale price
$4.53 per share
Price for the 300,000 shares sold
Shares held after sale
13,950,000 shares
Indirect holdings reported after the transaction
Transaction date
2026-04-23
Date of the open-market sale
Key Terms
open-market sale, beneficially owned, pecuniary interest, indirect ownership
4 terms
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
beneficially owned financial
"shares owned directly by the Fund may be regarded as being beneficially owned by Mr. Leonard"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
pecuniary interest financial
"Mr. Leonard disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein"
indirect ownership financial
"nature_of_ownership: Holdings of BML Investment Partners, L.P."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Aclaris Therapeutics (ACRS) report on this Form 4?
Aclaris Therapeutics reported an open-market sale of 300,000 shares of its common stock at $4.53 per share. The shares were sold by BML Investment Partners, L.P., a fund associated with ten percent owner Michael Leonard, and are reported as indirect holdings.
Who is the reporting person in the Aclaris Therapeutics (ACRS) Form 4 filing?
The reporting person is Michael Leonard, identified as a ten percent owner of Aclaris Therapeutics. He is managing member of BML Capital Management, LLC, which is general partner of BML Investment Partners, L.P., the fund that directly owns the reported ACRS shares.
Was the Aclaris Therapeutics (ACRS) Form 4 transaction a buy or a sell?
The Form 4 shows a sell transaction. Specifically, 300,000 shares of Aclaris common stock were sold in an open-market sale at a price of $4.53 per share, reducing the fund’s reported indirect ACRS holdings to 13,950,000 shares afterward.
How is beneficial ownership described in the Aclaris Therapeutics (ACRS) Form 4 footnote?
The footnote explains that BML Investment Partners, L.P. directly owns the ACRS shares, while BML Capital Management, LLC serves as its general partner. Michael Leonard may be regarded as beneficially owning these shares but disclaims beneficial ownership except to the extent of his pecuniary interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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