Electra CTO reports options and 63,656-share stake
Electra Therapeutics’ chief technical officer discloses option grants and Series A preferred shares convertible into common stock upon an IPO.
Rhea-AI Filing Summary
Electra Therapeutics, Inc. (ETRA) reported the initial equity holdings of Chief Technical Officer Gary S. Koe. He holds several employee stock options over common stock with exercise prices ranging from $4.40 to $15.00 per share and expirations between March 23, 2032 and September 16, 2036, with varying monthly vesting and some fully vested or early exercisable subject to the company’s repurchase rights. He also holds Series A Convertible Preferred Stock that will automatically convert into 63,656 common shares upon the closing of the company’s initial public offering.
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Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Koe Gary S.
Role
Chief Technical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option (right to buy) F1 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F2 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F4 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F5 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F6 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F7 | -- | -- | -- |
| holding | Series A Convertible Preferred Stock F8 | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 548,616 contracts (Direct);
Series A Convertible Preferred Stock — 63,656 contracts (Direct)
Footnotes (8)
- F1. The shares subject to this option are fully vested.
- F2. 1/4th of the total shares subject to this option vested one year after January 1, 2024, and thereafter 1/48th of the total shares subject to this option shall vest on each monthly anniversary thereof. The shares subject to this option are early exercisable, subject to the Issuer's right of repurchase.
- F3. 1/4th of the total shares subject to this option vested one year after May 16, 2024, and thereafter 1/48th of the total shares subject to this option shall vest on each monthly anniversary thereof. The shares subject to this option are early exercisable, subject to the Issuer's right of repurchase.
- F4. 1/4th of the total shares subject to this option vested one year after May 16, 2025, and thereafter 1/48th of the total shares subject to this option shall vest on each monthly anniversary thereof. The shares subject to this option are early exercisable, subject to the Issuer's right of repurchase.
- F5. 1/48th of the total shares subject to this option shall vest monthly commencing from February 1, 2026. The shares subject to this option are early exercisable, subject to the Issuer's right of repurchase.
- F6. 1/48th of the total shares subject to this option shall vest monthly commencing from September 17, 2026.
- F7. The shares subject to this option are fully vested upon the date of grant.
- F8. Each share of Series A Convertible Preferred Stock (the "Preferred Stock") will automatically convert into 1 share of Common Stock upon the closing of the Issuer's initial public offering without payment of further consideration. Share numbers give effect to such conversion. The Preferred Stock has no expiration date.
Key Figures
Underlying common shares at $5.23 exercise price: 35,451 shares
Underlying common shares at $4.40 exercise price: 47,269 shares
Underlying common shares at $5.05 exercise price: 18,907 shares
+5 more
8 metrics
Underlying common shares at $5.23 exercise price
35,451 shares
Employee stock option expiring March 23, 2032, held directly by the CTO
Underlying common shares at $4.40 exercise price
47,269 shares
Employee stock option expiring November 16, 2033, with staged vesting and early exercisability
Underlying common shares at $5.05 exercise price
18,907 shares
Employee stock option expiring May 8, 2034, with staged vesting and early exercisability
Underlying common shares at $4.96 exercise price (2035)
47,269 shares
Employee stock option expiring November 12, 2035, with staged vesting and early exercisability
Underlying common shares at $4.96 exercise price (2036)
231,941 shares
Employee stock option expiring February 12, 2036, vesting 1/48 monthly from February 1, 2026
Underlying common shares at $15.00 exercise price
155,979 shares
Employee stock option expiring September 16, 2036, vesting 1/48 monthly from September 17, 2026
Fully vested $15.00 option block
11,800 shares
Employee stock option expiring September 16, 2036, fully vested on grant date
Series A Convertible Preferred underlying common shares
63,656 shares
Automatically convert into common stock upon closing of the company’s initial public offering
Key Terms
early exercisable, right of repurchase, Series A Convertible Preferred Stock, initial public offering
4 terms
early exercisable financial
"The shares subject to this option are early exercisable, subject to the Issuer's right of repurchase."
right of repurchase financial
"The shares subject to this option are early exercisable, subject to the Issuer's right of repurchase."
Series A Convertible Preferred Stock financial
"Each share of Series A Convertible Preferred Stock (the "Preferred Stock") will automatically convert into 1 share of Common Stock"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
initial public offering financial
"will automatically convert into 1 share of Common Stock upon the closing of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does Electra Therapeutics (ETRA) disclose about Gary S. Koe’s equity holdings?
The company discloses that Chief Technical Officer Gary S. Koe holds multiple employee stock options on common stock with different vesting schedules and expirations, plus Series A Convertible Preferred Stock that will convert into 63,656 common shares upon the closing of the company’s initial public offering.
What stock options does the CTO hold in Electra Therapeutics (ETRA)?
Gary S. Koe holds several employee stock options over common stock with exercise prices of $4.40, $4.96, $5.05, $5.23 and $15.00 per share, covering blocks of 18,907 to 231,941 underlying shares, expiring between 2032 and 2036.
How do Gary S. Koe’s Electra Therapeutics (ETRA) options vest?
Some options are fully vested, while others vest with 1/4 of the shares vesting one year after a specified start date and 1/48 vesting monthly thereafter. Certain grants vest 1/48 monthly from February 1, 2026 or September 17, 2026, and several are early exercisable subject to Electra’s repurchase rights.
What is notable about the Series A Convertible Preferred Stock disclosed for ETRA?
Gary S. Koe holds Series A Convertible Preferred Stock that will automatically convert into 63,656 shares of common stock upon the closing of Electra Therapeutics’ initial public offering, without additional consideration. The preferred stock has no expiration date, and the share numbers already reflect this conversion ratio.
Are any of the Electra Therapeutics (ETRA) options early exercisable?
Yes. Several option grants held by Gary S. Koe are described as early exercisable, meaning they may be exercised before full vesting, but remain subject to Electra Therapeutics’ contractual right of repurchase until the applicable vesting conditions are satisfied.
Do any of the disclosed options for ETRA’s CTO start vesting in 2026?
Yes. One option over 231,941 underlying common shares vests 1/48 of the total each month starting February 1, 2026, and another option with a $15.00 exercise price vests 1/48 of the total each month beginning September 17, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
