[Form 3] Guardian Pharmacy Services, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Pharmacy Investors, LLC reported an initial beneficial ownership in Guardian Pharmacy Services, Inc. (GRDN). The filing shows 1,413,940 shares of Class A common stock held directly and beneficial ownership of 4,241,818 Class A shares arising from Class B shares that convert on a one-for-one basis in four substantially equal tranches on Mar 28, 2025, Sep 27, 2025, Mar 28, 2026 and Sep 27, 2026. The Form 3 is signed by Douglas Towns as attorney-in-fact.

Positive

• Transparent disclosure of direct and convertible holdings, including exact share counts and conversion schedule
• Initial Form 3 filed which fulfills Section 16 reporting requirements and notifies the market of significant ownership

Negative

• None.

Insights

Securities Analyst

TL;DR Significant direct and convertible Class B holdings disclosed, with staged conversion schedule into Class A shares.

The filing documents Pharmacy Investors, LLC as the reporting person holding 1,413,940 Class A shares directly and 4,241,818 Class A shares attributable to Class B shares that convert one-for-one in four tranches between March 2025 and September 2026. This is an initial Form 3 disclosure required under Section 16, establishing current ownership and the conversion timetable that will increase Class A float as tranches occur.

Corporate Governance Expert

TL;DR Clear Section 16 initial filing showing staged conversion mechanics; governance implications are procedural rather than operational.

The report clarifies the holder, address, and the conversion mechanics embedded in the Issuer's Amended and Restated Certificate of Incorporation. It identifies the reporting person and provides an executed signature via attorney-in-fact. The information is procedural disclosure of ownership and conversion schedule; no operational or transaction-specific details are disclosed.

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

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1. Name and Address of Reporting Person^*

Pharmacy Investors, LLC

(Last) (First) (Middle)

401 PENNSYLVANIA PARKWAY, SUITE 100

(Street)

INDIANAPOLIS IN 46280

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/28/2025

3. Issuer Name and Ticker or Trading Symbol
Guardian Pharmacy Services, Inc. [ GRDN ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 10% owner group

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

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)
Class A Common Stock	1,413,940	D

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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(1)	(1)	Class A Common Stock	4,241,818	(1)	D

Explanation of Responses:

1. Pursuant to Guardian Pharmacy Services, Inc.'s (the "Issuer") Amended and Restated Certificate of Incorporation, the Reporting Person's shares of Class B common stock automatically convert into shares of the Issuer's Class A common stock, on a one-for-one basis, in four substantially equal tranches on each of March 28, 2025, September 27, 2025, March 28, 2026 and September 27, 2026.

Remarks:

Exhibit 24.1 - Power of Attorney

	/s/ Douglas Towns Attorney-in-Fact	09/30/2025
	** 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.

FAQ

What did Pharmacy Investors, LLC disclose on the Form 3 for GRDN?

The filer disclosed 1,413,940 Class A shares held directly and beneficial ownership of 4,241,818 Class A shares from Class B shares that convert one-for-one.

When do the Class B shares convert into Class A shares for GRDN?

Conversions occur in four substantially equal tranches on Mar 28, 2025, Sep 27, 2025, Mar 28, 2026 and Sep 27, 2026.

Who signed the Form 3 for Pharmacy Investors, LLC?

The Form 3 is signed by Douglas Towns as attorney-in-fact on behalf of the reporting person.

What role does Pharmacy Investors, LLC have with Guardian Pharmacy Services, Inc.?

The filing indicates the reporting person relationship fields and shows the form was filed by one reporting person; the filing does not provide an officer title beyond the checked boxes and signatures.

Does the filing state how many Class B shares exist or their separate count?

The filing does not state a separate Class B share count; it reports the 4,241,818 Class A shares that will result from conversion of Class B shares.