Aterian CEO Lazar sells $12M in preferred shares
Both preferred-stock series are perpetual and have no expiration date.
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Form Type
4
Rhea-AI Filing Summary
Aterian, Inc. Chief Executive Officer David E. Lazar converted 168,900 Series AA preferred shares into 1,300,530 common shares for no additional consideration. On September 25, 2026, he sold 706,100 Series AA and 1,750,000 Series AAA preferred shares to multiple purchasers for an aggregate purchase price of $12,000,000, which the agreement did not allocate between the two series. His reported common-stock holdings following the conversion were 8,038,030 shares; his Series AAA holdings following the sale were zero. No Rule 10b5-1 plan is reported.
Insights
Analyzing...
Insider Trade Summary
Net Seller: 2,456,100 shares
Net Sell
4 txns
Insider
Lazar David E.
Role
Chief Executive Officer
Sold
2,456,100 shs ($12.00M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Series AAA Convertible Non-Redeemable Preferred Stock F3, F2 | 1,750,000 | $6.703 | $11.73M |
| Sale | Series AA Convertible Non-Redeemable Preferred Stock F3, F2 | 706,100 | $0.382 | $270K |
| Conversion | Series AA Convertible Non-Redeemable Preferred Stock F1, F2 | 168,900 | $0.00 | $0.00 |
| Conversion | Common Stock F1 | 1,300,530 | $0.00 | $0.00 |
Holdings After Transaction:
Series AAA Convertible Non-Redeemable Preferred Stock — 0 contracts (Direct);
Series AA Convertible Non-Redeemable Preferred Stock — 706,100 contracts (Direct);
Common Stock — 8,038,030 shares (Direct)
Footnotes (3)
- F1. On September 25, 2026, the Reporting Person converted 168,900 shares of the Series AA Convertible Non-Redeemable Preferred Stock (the "Series AA Preferred Shares") for no additional consideration.
- F2. Each of the Series AA Preferred Shares and the Series AAA Convertible Non-Redeemable Preferred Stock (the "Series AAA Preferred Shares") are perpetual and therefore have no expiration date.
- F3. On September 25, 2026, the Reporting Person sold 706,100 Series AA Preferred Shares and 1,750,000 Series AAA Preferred Shares to multiple purchasers for an aggregate purchase price of $12,000,000, pursuant to a Securities Purchase Agreement. The aggregate purchase price was not allocated between the Series AA Preferred Shares and the Series AAA Preferred Shares in the Securities Purchase Agreement; the per-share prices reported reflect an allocation of the aggregate purchase price between the two series pro rata based on the number of shares of Common Stock underlying each series.
Key Figures
Series AA preferred shares converted: 168,900 shares
Common shares from conversion: 1,300,530 shares
Series AA preferred shares sold: 706,100 shares
+4 more
7 metrics
Series AA preferred shares converted
168,900 shares
Converted for no additional consideration
Common shares from conversion
1,300,530 shares
Common shares received in the conversion
Series AA preferred shares sold
706,100 shares
Sale on September 25, 2026
Series AAA preferred shares sold
1,750,000 shares
Sale on September 25, 2026
Aggregate purchase price
$12,000,000
Purchase price for both preferred-stock series; not allocated between them
Common shares following conversion
8,038,030 shares
Reported resulting Common Stock holdings
Series AAA shares following sale
0 shares
Reported resulting preferred-stock holdings
Key Terms
perpetual, Securities Purchase Agreement, pro rata
3 terms
perpetual financial
"Each of the Series AA Preferred Shares and the Series AAA Preferred Shares are perpetual"
Perpetual describes a financial instrument or obligation that has no fixed end date and can continue indefinitely unless the issuer chooses to end it. For investors, that means there is no scheduled return of principal, so value depends on ongoing payments, issuer stability and market interest rates—similar to receiving rent from a property with no set sale date. Perpetual instruments often pay higher yields to compensate for that open-ended risk.
Securities Purchase Agreement financial
"pursuant to a Securities Purchase Agreement"
A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.
pro rata financial
"an allocation of the aggregate purchase price ... pro rata"
Pro rata means dividing or distributing something proportionally based on a specific factor, such as ownership or contribution. For example, if an investor owns 10% of a company, they would receive 10% of any dividends or benefits allocated. This approach ensures everyone gets their fair share relative to their stake or input, helping investors understand how benefits, costs, or responsibilities are fairly shared.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was the purchase price for David E. Lazar's ATER preferred-stock sale?
The aggregate purchase price was $12,000,000, and the agreement did not allocate it between the Series AA and Series AAA shares. The reported per-share prices reflect a pro rata allocation based on the number of common shares underlying each series.
AI-generated analysis. How Rhea-AI works. Not financial advice.
