Azitra CEO converts preferred into 4.06M shares
Azitra, Inc. President and CEO Francisco D. Salva converted preferred stock into common shares.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Azitra, Inc. President and CEO Francisco D. Salva converted preferred stock into common shares. On June 16, 2026, he converted 500 shares of Series A Convertible Non-Redeemable Preferred Stock into 4,064,050 shares of common stock for no additional consideration, as provided in the Series A Certificate of Designations and subject to Beneficial Ownership Limitations. Following the automatic conversion, his reported beneficial ownership is 4,086,291 shares of common stock, which includes 22,241 incentive stock options exercisable within 60 days of June 16, 2026.
Insider Trade Summary
500 shares exercised/converted
Exercise
2 txns
Insider
Salva Francisco D.
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Convertible Non-Redeemable Preferred Stock | 500 | $0.00 | $0.00 |
| Conversion | Common Stock | 4,064,050 | $0.00 | $0.00 |
Holdings After Transaction:
Series A Convertible Non-Redeemable Preferred Stock — 0 shares (Direct);
Common Stock — 4,086,291 shares (Direct)
Holdings Before and After:
Series A Convertible Non-Redeemable Preferred Stock, 500 to 0 shares (Direct);
Common Stock, 22,241 to 4,086,291 shares (Direct)
Footnotes (2)
- F1. Each share of Series A Convertible Non-Redeemable Preferred Stock ("Series A Preferred Stock") automatically converted into 8,128.1 shares of common stock, for no additional consideration, at 5 p. m. Eastern Time on June 16, 2026, subject to the terms of the Certificate of Designations, Preferences and Rights of Series A Convertible Non-Redeemable Preferred Stock of Azitra, Inc. (the "Certificate of Designations") and subject to the applicable Beneficial Ownership Limitations (as defined in the Certificate of Designations). Each share of Series A Preferred Stock was sold together with a Series B Common Stock Purchase Warrant to purchase shares of common stock and a Series C Common Stock Purchase Warrant to purchase shares of common stock (collectively, a "Security"). The Securities were sold at a purchase price of $1,000.00 per Security to the Reporting Person.
- F2. Includes 22,241 Incentive Stock Options held by Mr. Salva and exercisable within 60 days of June 16, 2026.
Key Figures
Common shares from conversion: 4,064,050 shares
Preferred shares converted: 500 shares
Post-transaction beneficial common ownership: 4,086,291 shares
+3 more
6 metrics
Common shares from conversion
4,064,050 shares
Common stock received by CEO on June 16, 2026 via conversion
Preferred shares converted
500 shares
Series A Convertible Non-Redeemable Preferred Stock converted on June 16, 2026
Post-transaction beneficial common ownership
4,086,291 shares
Reported common stock beneficially owned following the conversion
Conversion ratio
8,128.1 common per preferred share
Each Series A preferred share’s automatic conversion into common stock
Incentive stock options included
22,241 options
Incentive Stock Options exercisable within 60 days of June 16, 2026
Security purchase price
$1,000.00 per Security
Original price per Security sold to Francisco D. Salva
Key Terms
Series A Convertible Non-Redeemable Preferred Stock, Certificate of Designations, Beneficial Ownership Limitations, Series B Common Stock Purchase Warrant, +2 more
6 terms
Series A Convertible Non-Redeemable Preferred Stock financial
"Each share of Series A Convertible Non-Redeemable Preferred Stock ("Series A Preferred Stock") automatically converted into 8,128.1 shares of common stock..."
Certificate of Designations regulatory
"...subject to the terms of the Certificate of Designations, Preferences and Rights of Series A Convertible Non-Redeemable Preferred Stock of Azitra, Inc...."
A certificate of designations is a formal legal document that spells out the specific rights and rules attached to a particular class of stock, most often preferred shares. It tells investors who gets paid first, what dividends or conversion rights exist, and any voting or liquidation priorities—like an instruction sheet that decides which shareholders get preference if a company pays out or is sold. Those terms directly affect a security’s value and risk.
Beneficial Ownership Limitations financial
"...at 5 p. m. Eastern Time on June 16, 2026, subject to the... Certificate of Designations... and subject to the applicable Beneficial Ownership Limitations..."
Beneficial ownership limitations are rules or contractual caps that restrict how much of a company’s stock an individual or entity can be treated as owning or controlling for legal, regulatory or corporate-governance purposes. They matter to investors because such limits affect voting power, reporting obligations, takeover risk and the ability to increase a stake — like an elevator weight limit or a lane divider that prevents any one car from taking over the whole road.
Series B Common Stock Purchase Warrant financial
"Each share of Series A Preferred Stock was sold together with a Series B Common Stock Purchase Warrant to purchase shares of common stock..."
Series C Common Stock Purchase Warrant financial
"...and a Series C Common Stock Purchase Warrant to purchase shares of common stock (collectively, a "Security")."
Incentive Stock Options financial
"Includes 22,241 Incentive Stock Options held by Mr. Salva and exercisable within 60 days of June 16, 2026."
Incentive stock options are a type of employee stock option that gives eligible workers the right to buy company shares at a fixed price later on, often below future market value. They matter to investors because they align employee incentives with company performance, can dilute existing ownership when exercised, and create potential tax advantages for option holders if certain holding-time rules are met — think of them as a coupon to buy stock at today’s price with extra tax rules attached.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Azitra (AZTR) report for its CEO?
Azitra reported that CEO Francisco D. Salva converted 500 Series A Convertible Non-Redeemable Preferred Stock shares into 4,064,050 common shares, for no additional cash consideration, increasing his reported beneficial common stock ownership.
What was the conversion ratio for Azitra’s Series A preferred stock?
Each share of Azitra’s Series A Convertible Non-Redeemable Preferred Stock automatically converted into 8,128.1 shares of common stock at 5 p.m. Eastern Time on June 16, 2026, under the Series A Certificate of Designations.
What are the Beneficial Ownership Limitations mentioned for Azitra’s Series A preferred stock?
The Beneficial Ownership Limitations restrict conversions under the Series A Certificate of Designations so that holders do not exceed specified beneficial ownership thresholds when their preferred shares convert into Azitra common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
