Guardian Pharmacy entities sell 1.1M GRDN shares

Guardian Pharmacy Services director-related entities sold shares in an underwritten offering.

Rhea-AI Filing Summary

Guardian Pharmacy Services director-related entities sold shares in an underwritten offering. On March 20, 2026, Pharmacy Investors, LLC sold 827,636 shares of Class A common stock at $29.6825 per share, while Cardinal Equity Fund, L.P. sold 275,728 shares at the same price.

Both transactions are indirect holdings associated with director John Ackerman and were executed as open-market sales pursuant to an underwriting agreement with BofA Securities and Jefferies as representatives of the underwriters. After these sales, Pharmacy Investors, LLC still held 1,035,928 shares and Cardinal Equity Fund, L.P. held 345,123 shares.

Insights

Equity capital markets analyst

Large director-related secondary sales tied to an underwritten offering.

Entities associated with director John Ackerman sold a combined 1,103,364 shares of Guardian Pharmacy Services Class A common stock at $29.6825 per share. The footnote links these dispositions to a formal underwriting agreement with BofA Securities and Jefferies.

The transactions are open-market sales in connection with that offering rather than routine compensation events, so they represent real liquidity taken by existing holders. However, both Pharmacy Investors, LLC and Cardinal Equity Fund, L.P. still retain sizeable positions, with 1,035,928 and 345,123 shares remaining, respectively.

The net effect is a notable secondary sell-down by sponsor-related entities, while the company’s remaining insider exposure through these vehicles continues to be meaningful. Any broader impact depends on how these changes interact with overall share float and future disclosures in company filings.

Insider Trade Summary

Net Seller: 1,103,364 shares

Net Sell 2 txns

Insider Ackerman John

Role Director

Sold 1,103,364 shs ($32.75M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	827,636	$29.6825	$24.57M
Sale	Class A Common Stock	275,728	$29.6825	$8.18M

Holdings After Transaction: Class A Common Stock — 1,035,928 shares (Indirect, By Pharmacy Investors, LLC); Class A Common Stock — 345,123 shares (Indirect, By Cardinal Equity Fund, L.P.)

Footnotes (1)

1. F1. Represents shares of Class A common stock, par value $0.001 per share, of Guardian Pharmacy Services, Inc. (the "Issuer"), sold pursuant to the Underwriting Agreement, dated March 18, 2026, by and among the Issuer, the selling stockholders party thereto and BofA Securities, Inc. and Jefferies LLC, as representatives of the several underwriters named therein.

FAQ

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

What insider transaction did GRDN report for John Ackerman on this Form 4?

The Form 4 shows entities associated with director John Ackerman selling 1,103,364 shares of Guardian Pharmacy Services Class A common stock at $29.6825 per share on March 20, 2026, in open-market transactions tied to an underwriting agreement.

Which entities sold Guardian Pharmacy Services (GRDN) shares in this filing?

Two indirect holders sold shares: Pharmacy Investors, LLC and Cardinal Equity Fund, L.P.. Pharmacy Investors, LLC sold 827,636 shares, while Cardinal Equity Fund, L.P. sold 275,728 shares of Guardian Pharmacy Services Class A common stock on March 20, 2026.

At what price were the GRDN shares sold in the reported insider transactions?

Both entities sold Guardian Pharmacy Services Class A common stock at an average price of $29.6825 per share. This price applied to the 827,636 shares sold by Pharmacy Investors, LLC and the 275,728 shares sold by Cardinal Equity Fund, L.P. on March 20, 2026.

How many Guardian Pharmacy Services (GRDN) shares do the selling entities still hold?

After the transactions, Pharmacy Investors, LLC held 1,035,928 shares of Guardian Pharmacy Services Class A common stock, and Cardinal Equity Fund, L.P. held 345,123 shares, according to the post-transaction ownership figures disclosed in the Form 4 filing.

Were the GRDN insider sales part of an underwritten offering?

Yes. A footnote explains the shares of Guardian Pharmacy Services Class A common stock were sold pursuant to an Underwriting Agreement dated March 18, 2026, with BofA Securities and Jefferies acting as representatives of the several underwriters named in that agreement.

Do the GRDN transactions involve derivative securities or just common stock?

The reported transactions involve only non-derivative Class A common stock of Guardian Pharmacy Services. The derivative summary section in the data is empty, indicating no options, warrants, or other derivative securities were exercised or converted in this particular Form 4 filing.

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

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Accepted by SEC EDGAR 03/24/2026 - 04:15 PM Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ackerman John

(Last) (First) (Middle)

300 GALLERIA PARKWAY SE, SUITE 800

(Street)

ATLANTA GEORGIA 30339

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/20/2026		S(1)		827,636	D	$29.6825	1,035,928	I	By Pharmacy Investors, LLC
Class A Common Stock	03/20/2026		S(1)		275,728	D	$29.6825	345,123	I	By Cardinal Equity Fund, L.P.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of Class A common stock, par value $0.001 per share, of Guardian Pharmacy Services, Inc. (the "Issuer"), sold pursuant to the Underwriting Agreement, dated March 18, 2026, by and among the Issuer, the selling stockholders party thereto and BofA Securities, Inc. and Jefferies LLC, as representatives of the several underwriters named therein.

	/s/ Douglas Towns, Attorney-in-Fact	03/24/2026
	** 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 4 (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 4: SEC 1474 (03-26)