Frazier Life Sciences II: Palleiko holds 87,188 shares

Q: How many FLSC shares did director Benjamin L. Palleiko report?

He reported direct holdings of 87,188 Class B ordinary shares. GTBAP Limited Partnership holds 30,000 Class B ordinary shares; Palleiko is the sole manager of its general partner and disclaims beneficial ownership of those shares except to the extent of his pecuniary interest, if any.

Q: When do FLSC’s Class B ordinary shares convert?

They convert into Class A ordinary shares on a one-for-one basis, subject to adjustment, immediately prior to, concurrently with or immediately following consummation of the issuer’s initial business combination, or earlier at the reporting person’s option. The shares have no expiration date.

Conversion may occur around the initial business combination or earlier at Palleiko’s option, and the Class B shares have no expiration date.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Frazier Life Sciences Acquisition Corp. II director Benjamin L. Palleiko reported direct holdings of 87,188 Class B ordinary shares as of October 13, 2026. GTBAP Limited Partnership holds 30,000 Class B ordinary shares. Palleiko is the sole manager of GTBAP’s general partner, Corrugated Capital LLC, and disclaims beneficial ownership of GTBAP’s shares except to the extent of his pecuniary interest, if any.

The Class B ordinary shares convert into Class A ordinary shares on a one-for-one basis, subject to adjustment. Conversion occurs immediately prior to, concurrently with or immediately following consummation of the issuer’s initial business combination, or earlier at the reporting person’s option. The shares have no expiration date.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Palleiko Benjamin L

Role Director

Type	Security	Shares	Price	Value
holding	Class B ordinary shares ^F1	--	--	--
holding	Class B ordinary shares ^{F1, F2}	--	--	--

Holdings After Transaction: Class B ordinary shares — 87,188 contracts (Direct); Class B ordinary shares — 30,000 contracts (Indirect, By GTBAP Limited Partnership)

Footnotes (2)

F1. The Class B Ordinary Shares will automatically convert into Class A Ordinary Shares immediately prior to, concurrently with or immediately following the consummation of the Issuer's initial business combination, or at any time prior thereto at the option of the Reporting Person, on a one-for-one basis, subject to adjustment, and have no expiration date.
F2. Securities held by GTBAP Limited Partnership ("GTBAP"). Corrugated Capital LLC is the general partner of GTBAP. The Reporting Person serves as the sole manager of Corrugated Capital LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein, if any.

Key Figures

Direct Class B ordinary shares: 87,188 shares GTBAP Class B ordinary shares: 30,000 shares Underlying Class A ordinary shares: 87,188 shares +1 more

4 metrics

Direct Class B ordinary shares 87,188 shares Palleiko’s reported direct holding as of October 13, 2026

GTBAP Class B ordinary shares 30,000 shares Held by GTBAP Limited Partnership as of October 13, 2026

Underlying Class A ordinary shares 87,188 shares Underlying Palleiko’s direct Class B holding on conversion

Underlying Class A ordinary shares 30,000 shares Underlying GTBAP’s Class B holding on conversion

Key Terms

initial business combination, one-for-one basis, pecuniary interest, beneficial ownership

4 terms

initial business combination financial

"consummation of the issuer’s initial business combination"

An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.

one-for-one basis financial

"convert into Class A ordinary shares on a one-for-one basis"

pecuniary interest regulatory

"except to the extent of his pecuniary interest, if any"

beneficial ownership regulatory

"disclaims beneficial ownership of GTBAP’s shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many FLSC shares did director Benjamin L. Palleiko report?

He reported direct holdings of 87,188 Class B ordinary shares. GTBAP Limited Partnership holds 30,000 Class B ordinary shares; Palleiko is the sole manager of its general partner and disclaims beneficial ownership of those shares except to the extent of his pecuniary interest, if any.

When do FLSC’s Class B ordinary shares convert?

They convert into Class A ordinary shares on a one-for-one basis, subject to adjustment, immediately prior to, concurrently with or immediately following consummation of the issuer’s initial business combination, or earlier at the reporting person’s option. The shares have no expiration date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding Insider Trading Forms →

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

Add on Google

Available on EDGAR 10/14/2026 - 08:16 PM EDT Accepted by SEC EDGAR 10/13/2026 - 07:29 PM EDT

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Palleiko Benjamin L

(Last)

(First)

(Middle)

1001 PAGE MILL ROAD

BUILDING 4, SUITE 200B

(Street)

PALO ALTO

CALIFORNIA

93404

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
10/13/2026

3. Issuer Name and Ticker or Trading Symbol
Frazier Life Sciences Acquisition Corp. II [ FLSC ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Class B ordinary shares	⁽¹⁾	⁽¹⁾	Class A ordinary shares	87,188	⁽¹⁾	D
Class B ordinary shares	⁽¹⁾	⁽¹⁾	Class A ordinary shares	30,000	⁽¹⁾	I	By GTBAP Limited Partnership⁽²⁾

Explanation of Responses:

1. The Class B Ordinary Shares will automatically convert into Class A Ordinary Shares immediately prior to, concurrently with or immediately following the consummation of the Issuer's initial business combination, or at any time prior thereto at the option of the Reporting Person, on a one-for-one basis, subject to adjustment, and have no expiration date.

2. Securities held by GTBAP Limited Partnership ("GTBAP"). Corrugated Capital LLC is the general partner of GTBAP. The Reporting Person serves as the sole manager of Corrugated Capital LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein, if any.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Alexandra Jackson, Attorney-in-Fact	10/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR