Athira Pharma, Inc. SEC Filings

Bank of Montreal (BMO) is issuing US$90,000 of Senior Medium-Term Notes, Series K—“Digital Return Barrier Notes” due July 3, 2030. The notes are unsecured, unsubordinated obligations linked to the least-performing of three U.S. equity benchmarks: the NASDAQ-100 Index (NDX), the Russell 2000 Index (RTY) and the Dow Jones Industrial Average (INDU).

Key economic terms

• Digital Return: 61.00% of principal.
• Digital Barrier Level: 100% of each index’s initial level (no decline permitted for the digital payout).
• Barrier Level: 70% of initial level. If the least-performing index closes below this level on the valuation date, principal is lost 1-for-1 with the index decline (up to −100%).
• Upside Participation: If the least-performing index gains more than 61%, holders receive full participation in that appreciation.
• Tenor: 5-year term, priced June 30 2025, settles July 3 2025, matures July 3 2030.
• Denomination: $1,000; CUSIP 06376EGB2.
• Issue price: 100% of face; agent’s commission 0.50%.
• Estimated initial value: $962.30 per $1,000 note (reflecting structuring and hedging costs).

Risk highlights

• No periodic interest and no principal protection below a 30% index decline.
• Performance tied solely to the worst-performing index; positive moves in the other two indices do not help if one underperforms.
• Credit risk: payments depend on BMO’s ability to pay; the notes are not FDIC or CDIC insured.
• Limited liquidity: the notes are not exchange-listed; any secondary trading is at the agent’s discretion and likely at a discount.
• Tax treatment uncertain; issuer assumes prepaid derivative contract characterization.

Illustrative payouts from the issuer’s table:

• Index up 10% → investor receives $1,610 (61% fixed return).
• Index unchanged → investor still receives $1,610 (61%).
• Index down 20% (above 70% barrier) → investor receives principal ($1,000).
• Index down 40% → investor receives $600 (40% loss).

Because the face amount is de minimis relative to BMO’s balance sheet and no new financial information about the bank is provided, the filing is not considered material to BMO equity investors. It is, however, essential for prospective purchasers of the specific structured note.

JPMorgan Chase Financial Company LLC is offering Leveraged Market-Linked Step Up Notes maturing in July 2027 that are linked to a six-index international equity basket. The basket is weighted 40% EURO STOXX 50, 20% FTSE 100, 20% Nikkei 225, 7.5% Swiss Market Index, 7.5% S&P/ASX 200 and 5% FTSE China 50, making European performance—particularly the EURO STOXX 50—the largest driver of returns.

Return profile at maturity

• If the basket is flat or higher, holders receive the greater of: (a) principal plus a Step Up Payment of 16–18% ($1.60–$1.80 per $10 unit) or (b) principal plus 150% of the positive basket return.
• If the basket declines, investors incur a 1-for-1 loss of principal—up to total loss—based solely on the final basket level.

Key structural terms

• Denomination: $10 per unit; minimum initial order of 10,000 units.
• Tenor: approximately 2 years.
• Issuer credit: unsecured note of JPMorgan Chase Financial Company LLC; fully and unconditionally guaranteed by JPMorgan Chase & Co.
• Fees: $0.20 per unit (sales commission $0.15; structuring fee $0.05).
• Initial estimated value: $9.50–$9.715, below the $10 public offering price due to embedded fees and internal funding assumptions.
• Secondary market: none expected; JPMS may offer limited, uncommitted liquidity.

Risk highlights

• Full downside market exposure with no principal protection.
• Performance measured only on the Final Calculation Day; interim gains can be lost.
• Credit risk of both issuer and guarantor; notes are not FDIC-insured.
• Potential conflict of interest as JPMS is calculation agent and hedging counterparty.
• Estimated value discount and fees create negative carry for investors exiting early.

The product suits investors with a bullish or neutral two-year view on the basket who can tolerate full loss of principal, forgo dividends and accept limited liquidity in exchange for enhanced upside participation and a defined minimum positive return.

Lightwave Logic, Inc. (LWLG) Form 4 filing: Director Craig Ciesla was granted 80,645 restricted stock units (RSUs) on 06/30/2025 under the company’s 2025 Equity Incentive Plan at $0.00 exercise price. The award vests in four tranches: 20,162 RSUs on 07/15/2025 and 20,161 RSUs on each of 09/30/2025, 12/31/2025 and 03/31/2026, contingent on continued service. Following the grant, Ciesla’s total beneficial ownership equals 80,645 RSUs, all held directly. No common shares were sold or disposed of, so the filing signals no insider selling pressure. While the grant is non-cash and non-dilutive until vested and settled, the shares will add modest dilution when they convert to common stock.

GS Finance Corp. is offering $1.08 million of Autocallable Contingent Coupon Equity-Linked Notes due 2028, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are tied to the performance of Palantir Technologies Inc. (PLTR) Class A common shares and form part of Goldman’s Series F medium-term note program.

Key commercial terms

• Face amount: $1,000 per note (aggregate $1.08 million)
• Issue price: 100% (trade date 30-Jun-2025; settlement 03-Jul-2025)
• Quarterly contingent coupon: $69.625 (6.9625% per quarter, up to 27.85% p.a.) payable only if PLTR closes at or above 60% of the initial price ($136.32) on the relevant observation date.
• Automatic call: If PLTR closes at or above the initial price on any quarterly call observation date from Sep-2025 to Mar-2028, the notes are redeemed at par plus the due coupon.
• Downside protection: 40% buffer. If the final price on 30-Jun-2028 is ≥60% of the initial price, holders receive par plus any final coupon. If below 60%, repayment equals par plus (index return × par), exposing investors to full downside beyond the buffer.
• Estimated value at pricing: ~$970 per $1,000, reflecting structuring fees and dealer margin; underwriting discount 2%.
• Secondary market: GS & Co. may, but is not obliged to, make a market; bid/ask reflects estimated value plus declining premium (initially $25).
• Credit: senior unsecured obligation of GS Finance Corp. with unconditional guarantee from The Goldman Sachs Group, Inc.; not FDIC insured.

Risk highlights

• Investors may receive no coupons if PLTR trades below the 60% trigger on observation dates.
• If PLTR falls >40% at maturity and the note hasn’t been called, principal loss is one-for-one with the stock’s decline.
• Limited upside: maximum redemption is par plus due coupon; investors do not participate in stock gains above par.
• Market value likely to be below issue price; liquidity limited; pricing sensitive to GS credit spreads, PLTR volatility and interest rates.
• Product complexity, dilution events, market disruption adjustments and discretionary determinations by GS & Co. add additional risks.

The prospectus supplement also details anti-dilution adjustments, default provisions, tax characterization (income-bearing prepaid derivative contract) and extensive hypothetical scenarios illustrating coupon and principal outcomes.

Athira Pharma, Inc. (NASDAQ: ATHA) has filed a Form 144, disclosing a proposed sale of 25,123 common shares through Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, on or about 01 Jul 2025. These shares equal roughly 0.06 % of the company’s 39,042,445 shares outstanding.

The shares were acquired on 30 Jun 2025 via a “Restricted Stock Lapse” tied to equity compensation. No other sales by the same insider have occurred in the past three months according to the filing. Aggregate market value is listed as 7,374 (units not specified). The sale will be executed on the NASDAQ exchange.

Because the transaction size is immaterial compared with ATHA’s float and no identity or role of the seller is provided, the filing is generally viewed as routine rather than a signal of strategic or operational change. Form 144 merely gives notice of intent; the sale may or may not ultimately occur. Investors may interpret the filing as normal portfolio or tax management following the vesting of stock-based compensation, rather than a negative assessment of Athira Pharma’s prospects.

Athira Pharma, Inc. (ATHA) has filed a Form 144 indicating an insider’s intention to sell shares. The notice covers the proposed sale of 10,842 common shares through Morgan Stanley Smith Barney on or after 01 July 2025. The shares were originally acquired on 30 June 2025 via the lapse of restrictions on equity compensation, as disclosed in the filing’s “Nature of Acquisition Transaction.”

With 39,040,945 shares outstanding, the proposed sale represents only about 0.03 % of total shares, suggesting minimal dilution or market overhang. There were no other sales reported in the past three months by the same filer. The filing also certifies that the seller is unaware of any material, non-public adverse information about the company.

Form 144 filings are routine compliance documents required when affiliates intend to sell restricted or control stock. While they do not guarantee a sale will occur, they provide advance notice to the market. Because the volume is small relative to shares outstanding and there are no accompanying negative disclosures, the near-term impact on ATHA’s share price is likely limited. Nevertheless, investors often watch insider activity for sentiment signals; the timing—immediately after a restriction lapse—may be interpreted as profit-taking by the holder.

Athira Pharma, Inc. (ATHA) has filed a Form 144 indicating the planned sale of 8,526 common shares through broker Morgan Stanley Smith Barney LLC. The proposed transaction represents approximately 0.022 % of the company’s 39.0 million shares outstanding and carries an aggregate market value of $2,502 based on the price at the time of filing. The shares originate from a restricted-stock lapse dated 30 June 2025 and are scheduled to be sold on or after 1 July 2025 on the NASDAQ exchange. No previous insider sales were reported during the last three months, and the filer asserts the standard representation of having no undisclosed adverse information about the company.

The notice is procedural, providing investors with transparency into a forthcoming, modest-size insider disposition. Given the small fraction of total shares and the absence of other material operational or financial disclosures, the filing is unlikely to have a meaningful impact on ATHA’s share price or fundamentals.

Athira Pharma, Inc. (ticker ATHA) has filed a Form 144, notifying the SEC of an intended insider sale of up to 8,526 common shares through broker Morgan Stanley Smith Barney LLC. The proposed sale is scheduled for 01 July 2025 on Nasdaq. The shares were recently acquired on 30 June 2025 via a restricted-stock lapse tied to equity compensation. With 39,042,445 total shares outstanding, the transaction represents roughly 0.02 % of the float, indicating minimal dilution or market impact. No prior sales were reported in the past three months, and the filer affirms no undisclosed adverse information. Overall, this appears to be a routine liquidity move rather than a signal of fundamental change.