GRDN insider converts 6.1M Class B to Class A
Rhea-AI Filing Summary
Guardian Pharmacy Services director and ten percent owner Thomas J. Salentine Jr., through Bindley Capital Partners I, LLC, exercised a derivative position and converted 6,100,175 shares of Class B common stock into the same number of Class A shares at an exercise price of $0.00 per share on March 28, 2026. This automatic one-for-one conversion occurred pursuant to the company’s Amended and Restated Certificate of Incorporation, which provides for substantially equal tranches on March 28, 2026 and September 27, 2026. Following the transactions, Bindley Capital Partners I, LLC indirectly holds 10,569,491 shares of Class A common stock, and Salentine also directly holds 35,714 Class A shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,100,175 shares exercised/converted
Exercise
3 txns
Insider
Salentine Thomas J Jr
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock | 6,100,175 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 6,100,175 | $0.00 | $0.00 |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 6,100,175 contracts (Indirect, By Bindley Capital Partners I, LLC);
Class A Common Stock — 10,569,491 shares (Indirect, By Bindley Capital Partners I, LLC);
Class A Common Stock — 35,714 shares (Direct)
Footnotes (1)
- F1. 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 substantially equal tranches on each of March 28, 2026 and September 27, 2026.
Key Figures
Shares converted: 6,100,175 shares
Exercise price: $0.00 per share
Indirect Class A holdings: 10,569,491 shares
+1 more
4 metrics
Shares converted
6,100,175 shares
Class B to Class A automatic conversion on March 28, 2026
Exercise price
$0.00 per share
Derivative exercise/conversion of Class B common stock
Indirect Class A holdings
10,569,491 shares
Class A common stock held by Bindley Capital Partners I, LLC after transaction
Direct Class A holdings
35,714 shares
Class A common stock held directly by Thomas J. Salentine Jr. after transaction
Key Terms
Class B common stock, Class A common stock, Exercise or conversion of derivative security, Amended and Restated Certificate of Incorporation, +1 more
5 terms
Class B common stock financial
"the Reporting Person's shares of Class B common stock automatically convert"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A common stock financial
"convert into shares of the Issuer's Class A common stock, on a one-for-one basis"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security"
Amended and Restated Certificate of Incorporation regulatory
"Pursuant to Guardian Pharmacy Services, Inc.'s ... Amended and Restated Certificate of Incorporation"
A company’s amended and restated certificate of incorporation is an updated version of its foundational legal charter that replaces the older document and folds in all changes into one clear copy; it spells out corporate structure, classes of stock, shareholder rights and key governance rules. Investors care because it can change who controls the company, how votes are counted, what claims shareholders have on assets or dividends, and can introduce or remove protections against takeovers—like updating a house title after a major renovation to show who owns what and under what rules.
automatic convert financial
"shares of Class B common stock automatically convert into shares of the Issuer's Class A common stock"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did GRDN report for Thomas J. Salentine Jr. on March 28, 2026?
Guardian Pharmacy Services reported that an entity associated with Thomas J. Salentine Jr. converted 6,100,175 Class B shares into 6,100,175 Class A shares. The conversion was recorded at a $0.00 exercise price as part of an automatic derivative exercise.
What is the nature of the derivative exercise reported for GRDN on March 28, 2026?
The Form 4 shows a derivative exercise/conversion where Class B common stock automatically converted into Class A common stock on a one-for-one basis. The transaction code M indicates an exercise of a derivative security, not an open-market purchase or sale.
Was the GRDN insider transaction on March 28, 2026 a buy or sell in the market?
The March 28, 2026 Form 4 does not show an open-market buy or sell. Instead, it records an exercise or conversion of a derivative security, where Class B shares automatically converted into Class A shares at a stated exercise price of $0.00.
AI-generated analysis. How Rhea-AI works. Not financial advice.
