Guardian Pharmacy (GRDN) director-officer sells 187,855 shares at $29.68

Rhea-AI Filing Summary

Guardian Pharmacy Services director and officer Morris David K reported an open-market sale of 187,855 shares of Class A common stock on March 20, 2026 at an average price of $29.6825 per share. After the sale, he directly holds 254,472 shares. The shares were sold pursuant to an underwriting agreement with BofA Securities and Jefferies as representatives of the underwriters.

Insights

Equity market and insider-transactions analyst

Large planned insider sale via underwriting, with substantial stake retained.

The Form 4 shows Morris David K, a director and officer of Guardian Pharmacy Services, Inc., executed an open-market style sale of 187,855 Class A shares at about $29.68 each. This is a sizable disposition in a single transaction.

The footnote explains the sale occurred under an underwriting agreement dated March 18, 2026 with BofA Securities and Jefferies as underwriters. That structure suggests the sale was coordinated as part of a broader offering process rather than a spontaneous market trade, though exact offering details are not provided here.

Following the sale, he still directly owns 254,472 shares, indicating he retains a meaningful equity position. The filing does not reference any Rule 10b5‑1 trading plan, so timing context is limited. Subsequent company disclosures may provide more color on the broader offering tied to this underwriting agreement.

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^*

Morris David K

(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
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)		187,855	D	$29.6825	254,472	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 and Chief Financial Officer

	/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 Morris David K?

Guardian Pharmacy Services reported that director and officer Morris David K sold 187,855 shares of Class A common stock on March 20, 2026 at an average price of $29.6825 per share, according to a Form 4 insider trading report.

How many Guardian Pharmacy Services (GRDN) shares does Morris David K hold after this Form 4 sale?

After the reported sale, Morris David K directly holds 254,472 shares of Guardian Pharmacy Services Class A common stock. This remaining stake is disclosed in the Form 4 as the total shares beneficially owned following completion of the March 20, 2026 transaction.

What was the price for the Guardian Pharmacy Services (GRDN) insider share sale?

The 187,855 Guardian Pharmacy Services Class A shares were sold at an average price of $29.6825 per share. This per-share price is explicitly listed in the Form 4 transaction details for the March 20, 2026 open-market sale by Morris David K.

Was the Guardian Pharmacy Services (GRDN) insider sale part of an underwriting agreement?

Yes. A footnote explains the shares were sold under an Underwriting Agreement dated March 18, 2026 among Guardian Pharmacy Services, certain selling stockholders, and BofA Securities and Jefferies as representatives of the underwriters named in that agreement.

Does the Guardian Pharmacy Services (GRDN) Form 4 indicate a buy or a sell transaction?

The Form 4 clearly reflects a sell transaction. It uses transaction code “S” and describes an open-market or private sale of 187,855 Class A common shares by Morris David K on March 20, 2026 at $29.6825 per share.

Does the Guardian Pharmacy Services (GRDN) insider filing mention any trading plan for the sale?

The filing notes that the sale was executed under an underwriting agreement with BofA Securities and Jefferies, but it does not reference a Rule 10b5-1 trading plan or other pre-arranged trading plan in the provided excerpt.