Curis (CRIS) CEO receives Series B preferred stock and large warrant grants
Rhea-AI Filing Summary
Curis Inc. President & CEO James E. Dentzer reported awards of preferred stock and warrants linked to Curis common shares. He received 100 shares of Series B Convertible Non-Redeemable Preferred Stock, with each preferred share automatically converting into 1,333.33 common shares for no additional consideration at 5 p.m. Eastern Time on March 20, 2026, subject to Beneficial Ownership Limitations.
He was also granted a Series A Warrant, a Series B Warrant and a Series C Warrant, each covering 133,333 shares of common stock at an exercise price of $0.75 per share and issued at no cost. The Series A and Series C Warrants became immediately exercisable after Requisite Stockholder Approval and a Certificate of Amendment filing on March 17, 2026. The Series B Warrants became immediately exercisable after the same approvals and will terminate 30 days after the company announces dosing of the fifth patient in its Phase 2 emavusertib trial, with a possible reset of the exercise price and a 30-day extension if the stock price is below $0.75 on that Initial Termination Date.
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Insights
CEO receives structured preferred stock and warrant package as equity compensation, with clinical trial-linked warrant terms.
The filing shows James E. Dentzer acquiring equity-linked instruments rather than trading in the open market. Awards include 100 shares of Series B Convertible Preferred and three warrant series, each covering 133,333 common shares at an exercise price of $0.75, all granted for no cash cost.
The preferred stock automatically converts into common shares on March 20, 2026, subject to Beneficial Ownership Limitations. The Series A and C Warrants are immediately exercisable after stockholder approval and a charter amendment, while the Series B Warrant terms tie exercisability and potential exercise price reset to progress in a Phase 2 emavusertib clinical trial. These features align part of the CEO’s upside with regulatory and clinical milestones rather than immediate market moves, and represent compensation rather than a directional buy or sell decision.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Series B Convertible Preferred Stock | 100 | $0.00 | -- |
| Grant/Award | Series A Warrant (right to buy) | 133,333 | $0.00 | -- |
| Grant/Award | Series B Warrant (right to buy) | 133,333 | $0.00 | -- |
| Grant/Award | Series C Warrant (right to buy) | 133,333 | $0.00 | -- |
Footnotes (1)
- Each share of Series B Convertible Non-Redeemable Preferred Stock ("Series B Preferred Stock") automatically converts into 1,333.33 shares of Common Stock for no additional consideration at 5 p.m. Eastern Time on March 20, 2026, subject to the terms of the Certificate of Designations, Preferences and Rights of Series B Convertible Non-Redeemable Preferred Stock of Curis, Inc. (the "Certificate of Designations") and subject to the applicable Beneficial Ownership Limitations (as defined in the Certificate of Designations). Each share of Series B Preferred Stock was sold together with a Series A Warrant to purchase 1,333.33 shares of Common Stock, a Series B Warrant to purchase 1,333.33 shares of Common Stock and a Series C Warrant to purchase 1,333.33 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. Each Series A Warrant became immediately exercisable following the receipt of Requisite Stockholder Approval and the Certificate of Amendment Filing (each as defined in the Series A Warrant) on March 17, 2026. The Series B Warrants became immediately exercisable following the receipt of Requisite Stockholder Approval and the Certificate of Amendment Filing (each as defined in the Series B Warrant) and will terminate upon the 30th calendar day following date on which the Company publicly announces that the fifth patient has been dosed in the Company's Phase 2 clinical trial of emavusertib in combination with an approved Bruton Tyrosine Kinase Inhibitor in chronic lymphocytic leukemia ("Initial Termination Date"). If the closing sale price of the Company's Common Stock at the Initial Termination Date is below $0.75 (the "Exercise Price"), such Exercise Price will be reset to the closing sale price of the Company's Common Stock on the Initial Termination Date (provided that the Exercise Price will not be reduced to less than 50% of the initial Exercise Price) and the Initial Termination Date will be extended an additional 30 days. The Series C Warrants became immediately exercisable following the receipt of Requisite Stockholder Approval and the Certificate of Amendment Filing on March 17, 2026.
