Iambic Therapeutics trust converts notes at 85% of IPO price

Q: How many IAM shares did the Rastetter Family Trust acquire?

The common-stock transaction records show acquisitions of 192,579 shares from conversion of the four preferred-stock series and 8,341 shares from conversion of convertible promissory notes. The shares are held of record by the Rastetter Family Trust.

The convertible-note shares were priced at 85% of the issuer's $16.00-per-share initial public offering price.

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Rhea-AI Filing Summary

Iambic Therapeutics, Inc. (IAM) reported conversions by the Rastetter Family Trust, for which William H. Rastetter, Chairperson of the Board, serves as trustee. On October 16, 2026, the trust’s Series B, Series B-2, Series B-3 and Series B-4 preferred stock converted into common stock on a one-to-one basis immediately before completion of the issuer’s initial public offering; the preferred holdings were disposed and 192,579 common shares acquired. The trust also converted convertible promissory notes into 8,341 common shares at a conversion price equal to 85% of the IPO price of $16.00 per share.

Insider Trade Summary

200,920 shares exercised/converted

Exercise 7 txns

Insider RASTETTER WILLIAM H

Role Director

Type	Security	Shares	Price	Value
Conversion	Series B Convertible Preferred Stock ^{F1, F5}	76,801	$0.00	$0.00
Conversion	Series B-2 Convertible Preferred Stock ^{F2, F5}	64,001	$0.00	$0.00
Conversion	Series B-3 Convertible Preferred Stock ^{F3, F5}	36,805	$0.00	$0.00
Conversion	Series B-4 Convertible Preferred Stock ^{F4, F5}	14,972	$0.00	$0.00
Conversion	Convertible Promissory Notes ^{F6, F5}	8,341	$0.00	$0.00
Conversion	Common Stock ^{F1, F2, F3, F4, F5}	192,579	--	--
Conversion	Common Stock ^{F6, F5}	8,341	--	--

Holdings After Transaction: Series B Convertible Preferred Stock — 0 contracts (Indirect, See footnote); Series B-2 Convertible Preferred Stock — 0 contracts (Indirect, See footnote); Series B-3 Convertible Preferred Stock — 0 contracts (Indirect, See footnote); Series B-4 Convertible Preferred Stock — 0 contracts (Indirect, See footnote); Convertible Promissory Notes — 0 contracts (Indirect, See footnote); Common Stock — 200,920 shares (Indirect, See footnote)

Footnotes (6)

F1. Each share of Series B Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
F2. Each share of Series B-2 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
F3. Each share of Series B-3 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
F4. Each share of Series B-4 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
F5. The shares are held of record by the Rastetter Family Trust dated September 2, 2010, for which Dr. Rastetter serves as a trustee.
F6. The conversion price was equal to 85% of the Issuer's initial public offering price of $16.00 per share (reflecting a 15% discount).

Key Figures

Common shares acquired from preferred-stock conversions: 192,579 shares Common shares acquired from note conversion: 8,341 shares Note conversion price: 85% of the IPO price +2 more

5 metrics

Common shares acquired from preferred-stock conversions 192,579 shares Reported for the four preferred-stock series

Common shares acquired from note conversion 8,341 shares Convertible promissory notes

Note conversion price 85% of the IPO price Convertible promissory notes

Initial public offering price $16.00 per share Issuer's initial public offering

Preferred-stock conversion ratio 1 common share per preferred share Series B, Series B-2, Series B-3 and Series B-4

Key Terms

Series B Convertible Preferred Stock, one-to-one basis, conversion price

3 terms

Series B Convertible Preferred Stock financial

"Each share of Series B Convertible Preferred Stock automatically converted"

Series B convertible preferred stock is a class of shares sold during a later-stage private financing that combines features of a loan and common stock: it usually pays priority dividends or has a priority claim if the company is sold, and it can be converted into common shares under predefined rules. Investors care because these shares affect ownership stakes and payout order—like having a reserved place in line and a ticket that can turn into regular ownership—so they influence potential returns and dilution for other shareholders.

one-to-one basis technical

"converted into Common Stock on a one-to-one basis"

conversion price financial

"The conversion price was equal to 85% of the Issuer's initial public offering price"

The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.

FAQ

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

How many IAM shares did the Rastetter Family Trust acquire?

The common-stock transaction records show acquisitions of 192,579 shares from conversion of the four preferred-stock series and 8,341 shares from conversion of convertible promissory notes. The shares are held of record by the Rastetter Family Trust.

What were the IAM conversion terms?

Each of the four preferred-stock series converted into common stock on a one-to-one basis immediately before completion of Iambic Therapeutics’ initial public offering. The convertible promissory notes had a conversion price equal to 85% of the $16.00-per-share IPO price.

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

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Available on EDGAR 10/19/2026 - 07:49 PM EDT Accepted by SEC EDGAR 10/19/2026 - 07:49 PM EDT

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^*

RASTETTER WILLIAM H

(Last)

(First)

(Middle)

C/O IAMBIC THERAPEUTICS, INC.

5627 OBERLIN DRIVE, SUITE 120

(Street)

SAN DIEGO

CALIFORNIA

92121

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Iambic Therapeutics, Inc. [ IAM ]

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

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Chairperson of the Board

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/16/2026		C		192,579	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	192,579	I	See footnote⁽⁵⁾
Common Stock	10/16/2026		C		8,341	A	⁽⁶⁾	200,920	I	See footnote⁽⁵⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series B Convertible Preferred Stock	⁽¹⁾	10/16/2026		C			76,801	⁽¹⁾	⁽¹⁾	Common Stock	76,801	$0	0	I	See footnote⁽⁵⁾
Series B-2 Convertible Preferred Stock	⁽²⁾	10/16/2026		C			64,001	⁽²⁾	⁽²⁾	Common Stock	64,001	$0	0	I	See footnote⁽⁵⁾
Series B-3 Convertible Preferred Stock	⁽³⁾	10/16/2026		C			36,805	⁽³⁾	⁽³⁾	Common Stock	36,805	$0	0	I	See footnote⁽⁵⁾
Series B-4 Convertible Preferred Stock	⁽⁴⁾	10/16/2026		C			14,972	⁽⁴⁾	⁽⁴⁾	Common Stock	14,972	$0	0	I	See footnote⁽⁵⁾
Convertible Promissory Notes	⁽⁶⁾	10/16/2026		C			8,341	⁽⁶⁾	⁽⁶⁾	Common Stock	8,341	$0	0	I	See footnote⁽⁵⁾

Explanation of Responses:

1. Each share of Series B Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

2. Each share of Series B-2 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

3. Each share of Series B-3 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

4. Each share of Series B-4 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

5. The shares are held of record by the Rastetter Family Trust dated September 2, 2010, for which Dr. Rastetter serves as a trustee.

6. The conversion price was equal to 85% of the Issuer's initial public offering price of $16.00 per share (reflecting a 15% discount).

	/s/ Sunny Chang, by power of attorney	10/19/2026
	** 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)

Source: View Original Filing on SEC EDGAR