Guardian Pharmacy (GRDN) officer sells 346,672 shares in offering

Rhea-AI Filing Summary

Guardian Pharmacy Services, Inc. officer Forbes Kendall reported an open-market sale of 346,672 shares of Class A common stock at an average price of $29.6825 per share. The shares were sold pursuant to an underwriting agreement with BofA Securities and Jefferies. After the transaction, Kendall directly holds 453,256 shares.

Insights

Equity markets and insider-trading analyst

Large underwritten share sale by an officer, with substantial holdings retained.

The transaction shows officer Forbes Kendall selling 346,672 shares of Guardian Pharmacy Services Class A common stock at $29.6825 per share. The sale was executed as part of an underwriting agreement involving BofA Securities and Jefferies, suggesting participation in a broader offering rather than a standalone discretionary trade.

Following the sale, Kendall still directly owns 453,256 shares, indicating a significant remaining stake. Because the sale occurs within a structured underwritten transaction and the filing does not describe motivation or broader company changes, the information is best viewed as neutral context about insider liquidity rather than a clear positive or negative signal.

Insider Trade Summary

Net Seller: 346,672 shares ($10,290,092)

Net Sell 1 txn

Insider Forbes Kendall

Role See Remarks

Sold 346,672 shs ($10.29M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	346,672	$29.6825	$10.29M

Holdings After Transaction: Class A Common Stock — 453,256 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Forbes Kendall

(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)

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

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)		346,672	D	$29.6825	453,256	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

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.

Remarks:

Executive Vice President, Sales & Operations

	/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)

FAQ

What insider transaction did Guardian Pharmacy Services (GRDN) report for Forbes Kendall?

Guardian Pharmacy Services reported that officer Forbes Kendall sold 346,672 shares of Class A common stock. The shares were sold at an average price of $29.6825 per share as part of an underwriting agreement, reflecting a sizable but structured insider disposition.

How many Guardian Pharmacy Services (GRDN) shares does Forbes Kendall hold after this sale?

After the reported sale, Forbes Kendall directly holds 453,256 shares of Guardian Pharmacy Services Class A common stock. This indicates he retains a substantial equity position in the company despite the large disposition disclosed in the Form 4 filing.

At what price did Forbes Kendall sell GRDN Class A common stock?

Forbes Kendall sold Guardian Pharmacy Services Class A common stock at an average price of $29.6825 per share. This price applies to the 346,672 shares reported in the Form 4, providing investors a clear view of the transaction’s per-share valuation.

Was Forbes Kendall’s GRDN share sale part of a broader offering?

Yes. The footnote states the 346,672 GRDN Class A shares were sold under an Underwriting Agreement dated March 18, 2026 with BofA Securities and Jefferies as representatives of the underwriters, indicating participation in a larger underwritten transaction.

What type of transaction code was used for Forbes Kendall’s GRDN trade?

The transaction used code S, indicating a sale in the open market or a private transaction. In this case, the sale was executed pursuant to an underwriting agreement, aligning the disposition with an organized offering rather than routine open-market trading.

Is the Forbes Kendall GRDN transaction a buy or sell from an investor perspective?

From an investor perspective, this Form 4 shows a sale of shares. Kendall disposed of 346,672 Class A common shares while retaining 453,256 shares, making the filing primarily an insider selling disclosure rather than an acquisition event.