Yun Yao converts preferred into 41.99M Indaptus (INDP) shares

Rhea-AI Filing Summary

Indaptus Therapeutics, Inc. reported that investor Yun Yao is a more than 10% owner with 41,991,000 shares of common stock. These shares arose from a securities purchase agreement under which Yao acquired Series AA and Series AAA Convertible Non-Redeemable Preferred Stock and then converted all of it into common shares following the closing on March 23, 2026.

Insights

Equity ownership & control analyst

Yun Yao now holds 41,991,000 Indaptus common shares via preferred conversions.

The filing shows that Yun Yao acquired 196,800 shares of Series AA and 253,700 shares of Series AAA Convertible Non-Redeemable Preferred Stock under a securities purchase agreement dated March 19, 2026. These preferred shares were then fully converted to common stock after closing on March 23, 2026.

Each Series AA share converts into 20 common shares, and each Series AAA share converts into 150 common shares. The conversion produced 3,936,000 common shares from Series AA and 38,055,000 from Series AAA, totaling 41,991,000 common shares. This position is reported as held directly and makes Yao a more than 10% owner.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Yao Yun

Role 10% Owner

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 41,991,000 shares (Direct)

Footnotes (1)

1. F1. On March 19, 2026, Yun Yao (the "Reporting Person"), the other purchasers and David Elliot Lazar (the "Seller") entered into a securities purchase agreement pursuant to which the Reporting Person acquired 196,800 shares of Series AA Convertible Non-Redeemable Preferred Stock and 253,700 shares of Series AAA Convertible Non-Redeemable Preferred Stock (together, the "Preferred Stock"). Each share of Series AA Preferred Stock is convertible into 20 shares of common stock, and each share of Series AAA Preferred Stock is convertible into 150 shares of common stock. Following the closing on March 23, 2026, the Reporting Person converted all Preferred Stock, resulting in the issuance of 41,991,000 shares of common stock (3,936,000 from Series AA and 38,055,000 from Series AAA).

Key Figures

Common shares owned: 41,991,000 shares Series AA preferred acquired: 196,800 shares Series AAA preferred acquired: 253,700 shares +2 more

5 metrics

Common shares owned 41,991,000 shares Beneficial ownership reported after conversion on March 23, 2026

Series AA preferred acquired 196,800 shares Convertible Non-Redeemable Preferred Stock acquired March 19, 2026

Series AAA preferred acquired 253,700 shares Convertible Non-Redeemable Preferred Stock acquired March 19, 2026

Common from Series AA conversion 3,936,000 shares Conversion of all Series AA preferred following March 23, 2026 closing

Common from Series AAA conversion 38,055,000 shares Conversion of all Series AAA preferred following March 23, 2026 closing

Key Terms

Series AA Convertible Non-Redeemable Preferred Stock, Series AAA Convertible Non-Redeemable Preferred Stock, securities purchase agreement, convertible, +1 more

5 terms

Series AA Convertible Non-Redeemable Preferred Stock financial

"acquired 196,800 shares of Series AA Convertible Non-Redeemable Preferred Stock"

A class of preferred shares labeled "Series AA" that carries fixed rights and priorities above common stock, can be converted into common shares under specified terms, and cannot be called back by the issuer for cash redemption. Think of it as a special, higher-priority ticket that may be exchanged for ordinary tickets later, while also carrying pay and payout preferences in events like dividends or liquidation—details matter because conversion terms and priority affect potential returns and ownership dilution.

Series AAA Convertible Non-Redeemable Preferred Stock financial

"and 253,700 shares of Series AAA Convertible Non-Redeemable Preferred Stock"

A class of preferred shares that pays dividends and ranks ahead of common stock for dividends and asset claims, but does not obligate the issuer to buy them back (non-redeemable). They can be converted into common shares under specified terms, so they act like a hybrid between a bond and a stock; the "Series AAA" label simply identifies this particular issuance. Investors care because these features affect income, priority in a liquidation, and potential dilution if the shares convert to common stock.

securities purchase agreement financial

"entered into a securities purchase agreement pursuant to which the Reporting Person acquired"

A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.

convertible financial

"Each share of Series AA Preferred Stock is convertible into 20 shares of common stock"

A convertible is a type of investment that starts as a loan or preferred stake (like a bond or preferred share) but can be exchanged for common shares of the company at a set price or under certain conditions. It matters to investors because it offers a mix of steady income and downside protection like a loan, plus the upside of stock ownership if the company does well—similar to holding a coupon that you can trade for a full ticket if the event becomes valuable.

Preferred Stock financial

"together, the "Preferred Stock""

Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.

FAQ

Who is the reporting person in Indaptus Therapeutics (INDP) latest Form 3?

The reporting person is Yun Yao, identified as a more than 10% owner of Indaptus Therapeutics. The Form 3 discloses Yao’s beneficial ownership of 41,991,000 shares of common stock following the conversion of previously acquired preferred stock.

How many Indaptus Therapeutics (INDP) common shares does Yun Yao own?

According to the Form 3, Yun Yao beneficially owns 41,991,000 shares of Indaptus common stock. These shares result from converting all acquired Series AA and Series AAA Convertible Non-Redeemable Preferred Stock after the closing on March 23, 2026.

What preferred stock did Yun Yao acquire in Indaptus Therapeutics (INDP)?

Yun Yao acquired 196,800 shares of Series AA and 253,700 shares of Series AAA Convertible Non-Redeemable Preferred Stock. Both series are convertible into common stock under fixed ratios, and all of this preferred stock was converted following the closing of the transaction.

What are the conversion ratios for Indaptus (INDP) Series AA and Series AAA preferred stock?

Each Series AA share converts into 20 common shares, and each Series AAA share converts into 150 common shares. Applying these ratios produced 3,936,000 common shares from Series AA and 38,055,000 from Series AAA following the full conversion by Yun Yao.

How were the 41,991,000 Indaptus (INDP) common shares issued to Yun Yao?

The 41,991,000 common shares were issued after all acquired Series AA and Series AAA preferred stock was converted following the closing on March 23, 2026. The conversion yielded 3,936,000 shares from Series AA and 38,055,000 from Series AAA, totaling 41,991,000.

Does the Form 3 for Indaptus (INDP) report any remaining preferred stock for Yun Yao?

The disclosure states that following the closing on March 23, 2026, the Reporting Person converted all Preferred Stock. This language indicates the entire Series AA and Series AAA positions were converted, leaving only common shares reported as beneficially owned.

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

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Understanding Insider Trading Forms →

Accepted by SEC EDGAR 04/02/2026 - 07:18 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Yao Yun

(Last) (First) (Middle)

C/O INDAPTUS THERAPEUTICS, INC

3 COLUMBUS CIRCLE, 15TH FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/23/2026

3. Issuer Name and Ticker or Trading Symbol
Indaptus Therapeutics, Inc. [ INDP ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

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

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	41,991,000(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On March 19, 2026, Yun Yao (the "Reporting Person"), the other purchasers and David Elliot Lazar (the "Seller") entered into a securities purchase agreement pursuant to which the Reporting Person acquired 196,800 shares of Series AA Convertible Non-Redeemable Preferred Stock and 253,700 shares of Series AAA Convertible Non-Redeemable Preferred Stock (together, the "Preferred Stock"). Each share of Series AA Preferred Stock is convertible into 20 shares of common stock, and each share of Series AAA Preferred Stock is convertible into 150 shares of common stock. Following the closing on March 23, 2026, the Reporting Person converted all Preferred Stock, resulting in the issuance of 41,991,000 shares of common stock (3,936,000 from Series AA and 38,055,000 from Series AAA).

	/s/ Yun Yao	04/02/2026
	** 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 5 (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 3: SEC 1473 (03-26)