Indaptus (INDP) director exits Series AAA stake, trims Series AA

Rhea-AI Filing Summary

Indaptus Therapeutics director David E. Lazar sold a large block of the company’s convertible preferred stock. On March 23, 2026, he completed a Securities Purchase Agreement under which he sold all 700,000 shares of Series AAA Preferred Stock, which were convertible into 105,000,000 shares of common stock, and 196,800 shares of Series AA Preferred Stock, which were convertible into 3,936,000 shares of common stock. Following this transaction, he retained 103,200 shares of Series AA Preferred Stock, convertible into 2,064,000 shares of common stock. Both the Series AA and Series AAA Preferred Stock are perpetual and convertible at the holder’s option for no additional consideration.

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

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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^*

Lazar David E.

(Last) (First) (Middle)

44, TOWER 100, THE TOWERS

WINSTON CHURCHILL, PAITILLA

(Street)

PANAMA CITY PANAMA 07196

(City) (State) (Zip)

PANAMA

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

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

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
Series AA Convertible Non-Redeemable Preferred Stock(1)	(2)	03/23/2026		S			196,800	03/20/2026	(3)	Common Stock	3,936,000	(1)	103,200	D
Series AAA Convertible Non-Redeemable Preferred Stock(1)	(4)	03/23/2026		S			700,000	03/20/2026	(5)	Common Stock	105,000,000	(1)	0	D

Explanation of Responses:

1. On March 19, 2026, David E. Lazar (the "Reporting Person") entered into a Securities Purchase Agreement pursuant to which the Reporting Person sold all of his title and interest in (i) all 700,000 shares of Series AAA Preferred Stock (convertible into an aggregate of 105,000,000 shares of the Issuer's common stock) held by the Reporting Person and (ii) 196,800 shares of the Reporting Person's Series AA Preferred Stock (convertible into an aggregate of 3,936,000 shares of the Issuer's common stock), as well as all of the Reporting Person's rights, title and interest in the Series AA Preferred Stock and Series AAA Preferred Stock under a securities purchase agreement dated December 22, 2025 (the "March 2026 Transaction"). The closing of the March 2026 Transaction occurred on March 23, 2026. Following the March 2026 Transaction, the Reporting Person retained 103,200 shares of Series AA Preferred Stock, convertible into an aggregate of 2,064,000 shares of the Issuer's common stock.

2. The Series AA Preferred Stock is convertible at the option of the holder for no additional consideration.

3. The Series AA Preferred Stock is perpetual and therefore has no expiration date.

4. The Series AAA Preferred Stock is convertible at the option of the holder for no additional consideration.

5. The Series AAA Preferred Stock is perpetual and therefore has no expiration date.

	/s/ David E. Lazar	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 Indaptus Therapeutics (INDP) report for David E. Lazar?

Indaptus Therapeutics (INDP) reported that director David E. Lazar sold significant preferred stock holdings. He disposed of all 700,000 Series AAA Preferred shares and 196,800 Series AA Preferred shares pursuant to a Securities Purchase Agreement that closed on March 23, 2026.

How many Indaptus (INDP) Series AAA Preferred shares did David E. Lazar sell?

David E. Lazar sold all 700,000 shares of Indaptus Series AAA Preferred Stock. These shares were convertible into 105,000,000 shares of common stock, and the sale was completed under a March 19, 2026 Securities Purchase Agreement that closed on March 23, 2026.

What happened to David E. Lazar’s Series AA Preferred holdings in Indaptus (INDP)?

David E. Lazar sold part of his Indaptus Series AA Preferred holdings and kept a remaining stake. He sold 196,800 Series AA shares, convertible into 3,936,000 common shares, and retained 103,200 Series AA shares, convertible into 2,064,000 common shares.

Are Indaptus (INDP) Series AA and Series AAA Preferred Stock perpetual and how are they converted?

Both Indaptus Series AA and Series AAA Preferred Stock are perpetual and convertible at the holder’s option. Each series has no expiration date and may be converted into common stock for no additional consideration when the holder chooses to exercise the conversion right.

On what dates did the key steps of David E. Lazar’s Indaptus (INDP) stock sale occur?

The key dates were March 19 and March 23, 2026. David E. Lazar entered into the Securities Purchase Agreement on March 19, 2026, and the closing of the transaction, including the sale of his preferred shares, occurred on March 23, 2026.