Redmile exercises Atara pre-funded warrants for stock
Funds managed by Redmile Group, LLC exercised Atara Biotherapeutics pre-funded warrants on July 22, 2026 via a cashless exercise.
Rhea-AI Filing Summary
Funds managed by Redmile Group, LLC exercised Atara Biotherapeutics pre-funded warrants on July 22, 2026 via a cashless exercise. The exercise delivered 195,211 shares of common stock to the funds, with 60 shares withheld to cover the exercise price. The funds continue to hold pre-funded warrants with low exercise prices ($0.0025 and $0.0001 per share), each limited by a 9.99% beneficial ownership blocker. Redmile and Jeremy Green report these as indirect holdings, disclaiming beneficial ownership beyond their pecuniary interest, and also correct prior warrant terms previously reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
195,211 shares exercised/converted
Exercise
7 txns
Insider
Redmile Group, LLC, Green Jeremy
Role
Director | Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Pre-Funded Warrants to Purchase Common Stock F1, F8, F5, F4 | 101,089 | $0.00 | $0.00 |
| Exercise | Pre-Funded Warrants to Purchase Common Stock F2, F8, F5, F4 | 38,735 | $0.00 | $0.00 |
| Exercise | Pre-Funded Warrants to Purchase Common Stock F3, F8, F5, F4 | 55,387 | $0.00 | $0.00 |
| Exercise | Common Stock F5, F4 | 195,211 | -- | -- |
| Exercise Price or Tax Liability | Common Stock F5, F4 | 60 | -- | -- |
| holding | Pre-Funded Warrants to Purchase Common Stock F6, F8, F4 | -- | -- | -- |
| holding | Pre-Funded Warrants to Purchase Common Stock F7, F8, F4 | -- | -- | -- |
Holdings After Transaction:
Pre-Funded Warrants to Purchase Common Stock — 3,217,632 contracts (Indirect, See Footnote);
Common Stock — 636,852 shares (Indirect, See Footnote)
Footnotes (8)
- F1. The Pre-Funded Warrants are exercisable at any time on or after the original issuance on July 23, 2019 until the seven-year anniversary of the original issuance date, at an exercise price equal to $0.0025 per share, subject to a 9.99% beneficial ownership blocker.
- F2. The Pre-Funded Warrants are exercisable at any time on or after the original issuance on May 29, 2020 until the seven-year anniversary of the original issuance date, at an exercise price equal to $0.0025 per share, subject to a 9.99% beneficial ownership blocker.
- F3. The Pre-Funded Warrants are exercisable at any time on or after the original issuance on December 11, 2020 until the seven-year anniversary of the original issuance date, at an exercise price equal to $0.0025 per share, subject to a 9.99% beneficial ownership blocker.
- F4. The reported securities are directly owned by certain private funds managed by Redmile Group, LLC (collectively, the "Funds") and may be deemed beneficially owned by Redmile Group, LLC ("Redmile") as investment manager of the Funds. The reported securities may also be deemed beneficially owned by Jeremy Green as the principal of Redmile. Each of Redmile and Mr. Green (the "Reporting Persons") disclaims beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, if any. This report shall not be deemed an admission that such Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- F5. On July 22, 2026, the Reporting Persons exercised the reported Pre-Funded Warrants through a "cashless exercise" resulting in the Issuer withholding 60 shares of Common Stock to pay the exercise price and issuing the remaining 195,151 shares of Common Stock to the applicable Funds. The number of shares withheld to pay the aggregate exercise price for the cashless exercise of the Pre-Funded Warrants was based on the closing sale price per share of the Common Stock on the trading date immediately prior to the exercise date, per the terms of the Pre-Funded Warrants.
- F6. The Pre-Funded Warrants are exercisable at any time on or after the original issuance date, at an exercise price equal to $0.0025 per share, subject to a 9.99% beneficial ownership blocker. The Pre-Funded Warrants have no expiration date.
- F7. The Pre-Funded Warrants are exercisable at any time on or after the original issuance date, at an exercise price equal to $0.0001 per share, subject to a 9.99% beneficial ownership blocker. The Pre-Funded Warrants have no expiration date.
- F8. The previous report on Form 3 inadvertently indicated that all of the Pre-Funded Warrants beneficially owned by the Reporting Persons have an exercise price of $0.0001 per share and no expiration date. Footnotes (1), (2), (3), (6) and (7) and the related disclosures correct the Form 3 with respect to the terms of the Pre-Funded Warrants beneficially owned by the Reporting Persons.
Key Figures
Common shares received: 195,211 shares
Shares withheld for exercise price: 60 shares
Warrants exercised (tranche 1): 101,089 pre-funded warrants
+5 more
8 metrics
Common shares received
195,211 shares
Shares of Atara common stock issued to Redmile-managed funds upon cashless warrant exercise on July 22, 2026
Shares withheld for exercise price
60 shares
Common shares withheld by issuer to pay aggregate exercise price in the cashless exercise
Warrants exercised (tranche 1)
101,089 pre-funded warrants
Pre-funded warrants to purchase common stock exercised on July 22, 2026 at $0.0025 per share
Warrants exercised (tranche 2)
38,735 pre-funded warrants
Additional pre-funded warrants exercised on July 22, 2026 at $0.0025 per share
Warrants exercised (tranche 3)
55,387 pre-funded warrants
Additional pre-funded warrants exercised on July 22, 2026 at $0.0025 per share
Remaining warrants at $0.0025
1,090,907 underlying shares
Pre-funded warrants still outstanding, exercisable at $0.0025 per share, subject to 9.99% beneficial ownership cap
Remaining warrants at $0.0001
2,126,725 underlying shares
Pre-funded warrants still outstanding, exercisable at $0.0001 per share, subject to 9.99% beneficial ownership cap
Beneficial ownership blocker
9.99%
Cap on ownership for pre-funded warrants to limit beneficial ownership percentage upon exercise
Key Terms
Pre-Funded Warrants, cashless exercise, beneficial ownership blocker, directors by deputization, +1 more
5 terms
Pre-Funded Warrants financial
"The Pre-Funded Warrants are exercisable at any time on or after the original issuance"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
cashless exercise financial
"exercised the reported Pre-Funded Warrants through a "cashless exercise" resulting in the Issuer"
A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.
beneficial ownership blocker regulatory
"at an exercise price equal to $0.0025 per share, subject to a 9.99% beneficial ownership blocker"
A beneficial ownership blocker is a legal or structural device that prevents a shareholder from being treated as the ultimate owner of enough shares to trigger control, reporting, or voting thresholds. Think of it like a speed bump that stops an investor from reaching a stake size that would force corporate disclosure or change control rights. Investors care because it affects who controls the company, how shares vote, regulatory filings, takeover risk and therefore potential value or liquidity of their holdings.
directors by deputization regulatory
"the Reporting Persons are directors by deputization for purposes of Section 16"
pecuniary interest financial
"disclaims beneficial ownership of the reported securities except to the extent of their pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Redmile Group report for Atara Biotherapeutics (ATRA)?
Redmile-managed funds exercised pre-funded warrants in Atara Biotherapeutics via a cashless exercise, receiving 195,211 shares of common stock while 60 shares were withheld to pay the aggregate exercise price under the warrant terms.
How were the Atara Biotherapeutics (ATRA) pre-funded warrants exercised by Redmile?
The warrants were exercised through a cashless exercise, meaning no cash changed hands. Instead, Atara withheld 60 shares of common stock to cover the exercise price and issued 195,211 shares of common stock to the Redmile-managed funds.
What pre-funded warrant positions do Redmile-managed funds still hold in Atara Biotherapeutics (ATRA)?
After this exercise, the funds still report pre-funded warrants convertible into 1,090,907 shares at an exercise price of $0.0025 and 2,126,725 shares at $0.0001 per share, each subject to a 9.99% beneficial ownership blocker.
Were the Atara Biotherapeutics (ATRA) Form 4 transactions under a Rule 10b5-1 plan?
No. The Form 4’s Rule 10b5-1 checkbox is not marked, and there is no footnote indicating a trading plan. The reported derivative exercises and share withholding therefore are not identified as occurring under a pre-arranged Rule 10b5-1 trading plan.
How is ownership of the Atara Biotherapeutics (ATRA) securities attributed between Redmile and Jeremy Green?
The securities are directly owned by private funds managed by Redmile Group, LLC. Redmile and Jeremy Green may be deemed beneficial owners as investment manager and principal, but they disclaim beneficial ownership except to the extent of any pecuniary interest.
What correction to earlier disclosures about Atara Biotherapeutics (ATRA) warrants was made?
A footnote explains that a prior Form 3 incorrectly showed all pre-funded warrants as having a $0.0001 exercise price and no expiration. The current disclosure corrects the warrant terms, distinguishing between $0.0025 and $0.0001 exercise prices and differing expirations.
AI-generated analysis. How Rhea-AI works. Not financial advice.
