Guardian Pharmacy holder converts 1.41M shares

Guardian Pharmacy Services, Inc. investor Pharmacy Investors, LLC converted derivative holdings into common stock.

Rhea-AI Filing Summary

Guardian Pharmacy Services, Inc. investor Pharmacy Investors, LLC converted derivative holdings into common stock. On March 28, 2026, it exercised a derivative position covering 1,413,939 shares of Class B common stock, receiving 1,413,939 shares of Class A common stock at a stated exercise price of $0.00 per share. The company’s charter provides that the Class B shares automatically convert into Class A shares on a one-for-one basis in substantially equal tranches on March 28, 2026 and September 27, 2026. Following this transaction, Pharmacy Investors, LLC directly holds 2,449,867 shares of Class A common stock. No open derivative position remains disclosed in this filing.

Insider Trade Summary

1,413,939 shares exercised/converted

Exercise 2 txns

Insider Pharmacy Investors, LLC

Role Insider

Type	Security	Shares	Price	Value
Exercise	Class B Common Stock	1,413,939	$0.00	$0.00
Exercise	Class A Common Stock	1,413,939	$0.00	$0.00

Holdings After Transaction: Class B Common Stock — 1,413,939 contracts (Direct); Class A Common Stock — 2,449,867 shares (Direct)

Footnotes (1)

1. F1. Pursuant to the Issuer's 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

Derivative shares converted: 1,413,939 shares Class A shares received: 1,413,939 shares Exercise/conversion price: $0.00 per share +2 more

5 metrics

Derivative shares converted 1,413,939 shares Class B common stock converted on March 28, 2026

Class A shares received 1,413,939 shares Issued to Pharmacy Investors, LLC via conversion

Exercise/conversion price $0.00 per share Stated price for derivative exercise/conversion

Class A shares after transaction 2,449,867 shares Pharmacy Investors, LLC direct holdings post-transaction

Derivative exercises in filing 1 transaction, 1,413,939 shares transactionSummary exerciseCount and exerciseShares

Key Terms

Class B common stock, Class A common stock, Amended and Restated Certificate of Incorporation, automatic convert, +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.

Amended and Restated Certificate of Incorporation regulatory

"Pursuant to the Issuer'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"

derivative security financial

"transaction code description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

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

What insider transaction did Pharmacy Investors, LLC report for GRDN?

Pharmacy Investors, LLC reported exercising a derivative tied to 1,413,939 shares of Class B common stock, converting them into 1,413,939 shares of Class A common stock at a stated price of $0.00 per share, as part of Guardian Pharmacy Services’ chartered conversion terms.

How many Guardian Pharmacy (GRDN) shares does Pharmacy Investors, LLC hold after this filing?

After the reported conversion, Pharmacy Investors, LLC directly holds 2,449,867 shares of Guardian Pharmacy Services’ Class A common stock. This reflects the addition of 1,413,939 Class A shares received upon automatic one-for-one conversion of its Class B common stock on March 28, 2026.

What triggered the Class B to Class A share conversion at Guardian Pharmacy (GRDN)?

The conversion was triggered automatically under Guardian Pharmacy Services’ Amended and Restated Certificate of Incorporation. It provides that the reporting person’s Class B common stock converts into Class A common stock on a one-for-one basis in substantially equal tranches on March 28, 2026 and September 27, 2026.

Was the GRDN insider transaction a market buy or sell of shares?

The transaction was not an open-market buy or sell. It was classified as an exercise or conversion of a derivative security (code M), where 1,413,939 Class B common shares automatically converted into the same number of Class A shares under the company’s charter, at a stated price of $0.00 per share.

How many shares were involved in Guardian Pharmacy’s (GRDN) derivative exercise?

The derivative exercise involved 1,413,939 shares of Class B common stock, which converted into 1,413,939 shares of Class A common stock. Transaction data and the summary both label this as an exercise or conversion of a derivative security rather than a traditional stock market trade.

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

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Accepted by SEC EDGAR 03/31/2026 - 04:05 PM EDT 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^*

Pharmacy Investors, LLC

(Last) (First) (Middle)

401 PENNSYLVANIA PARKWAY, SUITE 115

(Street)

INDIANAPOLIS INDIANA 46280

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/28/2026

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	03/28/2026		M		1,413,939	A	(1)	2,449,867	D

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
Class B Common Stock	(1)	03/28/2026		M			1,413,939	(1)	(1)	Class A Common Stock	1,413,939	(1)	1,413,939	D

Explanation of Responses:

1. Pursuant to the Issuer's 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.

	/s/ Douglas Towns, Attorney-in-Fact	03/31/2026
	** 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)