Generate Biomedicines (GENB) CEO adds options and IPO conversion shares
Rhea-AI Filing Summary
Generate Biomedicines, Inc. director and CEO Michael Nally reported several insider equity transactions. An entity associated with him, the MTN 2024 GST Trust, converted 1,000,000 shares of Series A Preferred Stock into 658,327 shares of Common Stock at no per-share price upon the company’s initial public offering on March 2, 2026, and he disclaims beneficial ownership of those trust-held shares except for any pecuniary interest.
Separately, Nally received two direct stock option awards, each covering 844,595 shares, on February 26, 2026, as grants at a stated exercise price of $0.00 per share. One option vests in two equal installments on February 19, 2029 and February 19, 2030, and the other vests in 48 equal monthly installments after February 19, 2026, in each case subject to his continued service. As of February 26, 2026, he held 552,707 shares of Common Stock directly and 999,793 shares indirectly through the MTN 2024 GRAT.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Preferred Stock | 1,000,000 | $0.00 | -- |
| Conversion | Common Stock | 658,327 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 844,595 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 844,595 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Each share of Series A Preferred Stock automatically converted into shares of the Issuer's Common Stock on a one-for-1.5190 basis upon the closing of the Issuer's initial public offering on March 2, 2026. The Series A Preferred Stock had no expiration date. The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that he is a beneficial owner of such shares for the purpose of Section 16 of the Exchange Act, or for any other purpose. The shares underlying this option shall vest in two equal installments on each of February 19, 2029 and February 19, 2030, subject to the Reporting Person's continued service on each such vesting date. The shares underlying this option shall vest in forty-eight equal monthly installments following February 19, 2026, subject to the Reporting Person's continued service on each such vesting date.
