Ian McDonald reports 13.6% Bright Minds (DRUG) ownership stake

Rhea-AI Filing Summary

Bright Minds Biosciences Inc. insider Ian McDonald reports beneficial ownership of 1,398,290 common shares, equal to about 13.6% of the company’s outstanding stock as of July 2, 2026. This total includes shares held directly and reflects his sole voting and dispositive power over them.

The amendment also describes earlier ownership levels, when the same 1,396,665-share position represented 19.0%, 17.9% and 13.8% of outstanding shares at different dates as the company’s share count changed. McDonald remains President, Chief Executive Officer and Director and may increase or decrease his holdings depending on market and business conditions.

Key Figures

Current beneficial ownership: 1,398,290 common shares Current ownership percentage: 13.6% of common shares Prior beneficial ownership position: 1,396,665 common shares +5 more

8 metrics

Current beneficial ownership 1,398,290 common shares Beneficially owned as of July 2, 2026

Current ownership percentage 13.6% of common shares Percentage of Bright Minds Biosciences outstanding stock

Prior beneficial ownership position 1,396,665 common shares Core position referenced for earlier percentage calculations

Shares outstanding baseline 9,812,061 common shares Issued and outstanding as of May 19, 2026

Derivative warrant shares 361,765 common shares issuable From common share purchase warrants held by Ian McDonald

Restricted share units 30,000 RSUs Previously included as derivative securities

Recent open-market purchase 1,625 shares at $61.081/share Purchased on June 12, 2026

Historical ownership percentage high 19.0% of common shares Ownership percentage at November 4, 2024

Key Terms

beneficial owner, common share purchase warrants, restricted share units, Derivative Securities, +2 more

6 terms

beneficial owner financial

"the Reporting Person was the beneficial owner of 1,398,290 Common Shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

common share purchase warrants financial

"361,765 Common Shares issuable upon exercise of common share purchase warrants"

A common share purchase warrant is a tradable right that lets its holder buy a company’s ordinary shares at a fixed price for a set period, like a coupon that can be redeemed later to buy stock at a predetermined rate. Investors care because warrants offer leverage on future upside—they can magnify gains if the share price rises above the set price—but they can also dilute existing shareholders if used, and they expire worthless if unused.

restricted share units financial

"30,000 restricted share units (the "RSUs" together with the Warrants, the "Derivative Securities")"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

Derivative Securities financial

"the RSUs together with the Warrants, the "Derivative Securities""

Financial contracts whose value is tied to the price or performance of another asset, such as a stock, bond, commodity, index, or currency; examples include options, futures and swaps. They matter to investors because they let you protect against price swings, bet on future moves or gain larger exposure with less upfront cash—like using a lever or insurance policy on an investment—so they can amplify gains and losses and help manage portfolio risk.

sole voting power financial

"the Reporting Person had the sole power to vote or to direct the voting"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 07/02/2026 - 05:24 PM Accepted by SEC EDGAR 07/02/2026 - 05:23 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

BRIGHT MINDS BIOSCIENCES INC.

(Name of Issuer)

COMMON STOCK, WITHOUT PAR VALUE

(Title of Class of Securities)

10919W405

(CUSIP Number)

Ian McDonald
The Residences, Tower 7 Apt# 2703, Sheikh Mohammed bin Rashid Blvd
Dubai, C0, 00000
(647) 407-2515

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

11/04/2024

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 10919W405

1

Name of reporting person

Ian McDonald

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,396,665.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,396,665.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,396,665.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

13.7 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

These 1,396,665 Common Shares under Items (7), (9) and (11) consist of (i) 1,004,900 Common Shares; (ii) 361,765 Common Shares issuable upon exercise of common share purchase warrants (the "Warrants"); and (iii) 30,000 restricted share units (the "RSUs" together with the Warrants, the "Derivative Securities"). Item (13) is calculated based on 10,203,826 Common Shares, consisting of (i) 9,812,061 Common Shares issued and outstanding on May 19, 2026, as reported in the Management's Discussion and Analysis for the second quarter ended March 31, 2026, as furnished by the Issuer to the SEC on Form 6-K on May 20, 2026, plus (i) 361,765 Common Shares issuable to the Reporting Person upon exercise of the Warrants; and (ii) 30,000 Common Shares issuable to the Reporting Person upon settlement of the RSUs.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: COMMON STOCK, WITHOUT PAR VALUE
(b)	Name of Issuer: BRIGHT MINDS BIOSCIENCES INC.
(c)	Address of Issuer's Principal Executive Offices: The Residences, Tower 7 Apt# 2703, Sheikh Mohammed bin Rashid Blvd, Dubai, UNITED ARAB EMIRATES , 00000.
Item 2.	Identity and Background
(a)	This statement is filed by Ian McDonald (the "Reporting Person").
(b)	The Reporting Person's address is The Residences, Tower 7 Apt# 2703, Sheikh Mohammed bin Rashid Blvd., Dubai, UAE.
(c)	The Reporting Person's principal occupation is acting as the President, Chief Executive Officer and Director of the Issuer.
(d)	During the last five years, the Reporting Person has not been convicted in any criminal proceeding. During the last five years, the Reporting Person has not been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction where, as a result of such proceeding, there was or is a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	The Reporting Person is a Canadian citizen.
Item 3.	Source and Amount of Funds or Other Consideration
	Not Applicable.
Item 4.	Purpose of Transaction
	The purpose of this statement is to report aggregate reductions in ownership of securities held by the Reporting Person of one percent (1%) or more of the securities of the Issuer then outstanding, as a result of distributions of securities by the Issuer, as of: - November 4, 2024, when the Reporting Person had the sole power to vote or to direct the voting of, or to dispose or to direct the disposition of 1,396,665 Common Shares representing approximately 19.0% of the Issuer's issued and outstanding Common Shares inclusive of Common Shares issuable to the Reporting Person pursuant to the Derivative Securities held by the Reporting Person; - September 9, 2025, when the Reporting Person had the sole power to vote or to direct the voting of, or to dispose or to direct the disposition of 1,396,665 Common Shares representing approximately 17.9% of the Issuer's issued and outstanding Common Shares inclusive of Common Shares issuable to the Reporting Person pursuant to the Derivative Securities held by the Reporting Person; and - January 9, 2026, when the Reporting Person had the sole power to vote or to direct the voting of, or to dispose or to direct the disposition of 1,396,665 Common Shares representing approximately 13.8% of the Issuer's issued and outstanding Common Shares inclusive of Common Shares issuable to the Reporting Person pursuant to the Derivative Securities held by the Reporting Person. The Reporting Person may, depending on market and other conditions, increase or decrease his ownership of the Issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. The Reporting Person reserves the right to formulate other plans or make other proposals and take other actions with respect to his interest in the Issuer. Depending on market conditions and other factors, the Reporting Person may acquire or dispose of securities of the Issuer as the Reporting Person may deem appropriate, whether in open market purchases or sales, privately negotiated transactions or otherwise. The Reporting Person continues to evaluate numerous potential transactions and in connection therewith may exchange Common Shares for other assets or may sell Common Shares to increase his cash position. The Reporting Person may also reconsider and change his plans or proposals relating to the foregoing. Except as otherwise disclosed herein, the Reporting Person has no current plans or proposals that relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) any extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries; (d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure including, but not limited to, if the Issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the United States Investment Company Act of 1940; (g) changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede acquisition of control of the Issuer by any person; (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or (j) any action similar to any of those enumerated above.
Item 5.	Interest in Securities of the Issuer
(a)	There were 9,812,061 Common Shares issued and outstanding on May 19, 2026, as reported in the Management's Discussion and Analysis for the second quarter ended March 31, 2026, as furnished by the Issuer to the SEC on Form 6-K on May 20, 2026. The filing of this statement by the Reporting Person shall not be construed as an admission that the Reporting Person is, for the purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statements herein. (a) For the purposes of this statement, the Reporting Person is reporting herein that, as of July 2, 2026, the Reporting Person was the beneficial owner of 1,398,290 Common Shares representing approximately 13.6% of the Issuer's issued and outstanding Common Shares. The Reporting Person did not, and does not, have the right to acquire any additional Common Shares within sixty days of the date of this Amendment No. 5.
(b)	For the purposes of this statement, the Reporting Person is reporting herein that, as of July 2, 2026, the Reporting Person had the sole power to vote or to direct the voting of, or to dispose or to direct the disposition of 1,398,290 Common Shares representing approximately 13.6% of the Issuer's common stock.
(c)	During the last sixty (60) days, the Reporting Person purchased 1,625 Common Shares on June 12, 2026 at average price of $61.081 per Common Share on the open market. On January 27, 2025, 30,000 RSUs were settled (and therefore disposed of) by the Reporting Person in exchange for the 30,000 Common Shares underlying such RSUs. This transaction did not result in any change to the number of Common Shares that had been reported as being beneficially owned by the Reporting Person in Amendment No. 4 to the Schedule 13D ("Amendment No. 4") filed by the Reporting Person on November 4, 2024. As of July 2, 2026, except as disclosed above, no transactions involving the Issuer's equity securities had been engaged in by the Reporting Person since Amendment No. 4.
(d)	As of October 30, 2024, to the best knowledge and belief of the undersigned, except as otherwise reported herein, no person other than the Reporting Person had the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Except as disclosed herein, the Reporting Person does not have any contract, arrangement, understanding or relationship with respect to securities of the Issuer including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. The Reporting Person has not pledged securities of the Issuer nor are the securities of the Issuer held by the Reporting Person subject to a contingency, the occurrence of which would give another person voting power or investment power over such securities.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Ian McDonald

Signature:	Ian McDonald
Name/Title:	President, Chief Executive Officer and Director of the Issuer
Date:	07/02/2026

FAQ

What ownership stake does Ian McDonald report in BRIGHT MINDS BIOSCIENCES INC. (DRUG)?

Ian McDonald reports beneficial ownership of 1,398,290 common shares, representing about 13.6% of Bright Minds Biosciences’ outstanding stock. This reflects his sole power to vote and dispose of these shares as of July 2, 2026, under the amended Schedule 13D.

How did Ian McDonald’s percentage ownership in DRUG change over time?

The filing notes that 1,396,665 shares equaled 19.0%, 17.9% and then 13.8% at different dates. These shifts in percentage reflect changes in Bright Minds Biosciences’ total outstanding shares rather than changes in McDonald’s core share position.

What securities make up Ian McDonald’s reported holdings in DRUG?

The 1,396,665-share figure previously disclosed included 1,004,900 common shares, 361,765 warrant shares and 30,000 RSUs. The warrants and restricted share units are treated as derivative securities that may convert into additional common shares under specified conditions.

Did Ian McDonald trade Bright Minds Biosciences (DRUG) shares recently?

Yes. During the last 60 days, he purchased 1,625 common shares on June 12, 2026 at an average price of $61.081 per share. The filing states that, aside from specified transactions, no other equity trades occurred since his prior amendment.

What is Bright Minds Biosciences’ share count used in this 13D/A calculation?

The filing cites 9,812,061 common shares issued and outstanding as of May 19, 2026. Ownership percentages, such as the reported 13.6% stake, are calculated against this baseline, adjusted for shares issuable from warrants and restricted share units held by Ian McDonald.

Does Ian McDonald have plans to change his DRUG ownership stake?

The filing states he may increase or decrease his Bright Minds Biosciences holdings depending on market and other conditions. He also notes no current specific plans for major corporate actions, while reserving the right to change his intentions in the future.