Opus Genetics director exercises 784K-share warrant
Opus Genetics director Cam Gallagher exercised a large warrant into common stock and entered a 180-day lock-up restricting transfers of those shares.
Rhea-AI Filing Summary
Opus Genetics, Inc. (IRD) director Cam Gallagher exercised a warrant to acquire 784,314 shares of common stock on September 8, 2026 at an exercise price of $1.15 per share, converting a warrant that is now reported with zero remaining underlying shares.
Following this exercise, Gallagher directly holds 2,800,111 shares of common stock and also has an indirect position of 83,000 shares held as custodian for a minor under the Uniform Transfers to Minors Act, for which beneficial ownership is disclaimed except for any pecuniary interest. In connection with the warrant exercise, Gallagher entered into a Lock-Up Agreement dated September 6, 2026, agreeing not to transfer or dispose of common stock or related securities for 180 days after issuance of the exercised shares, subject to exclusions and with the issuer’s written consent requirement.
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Insights
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Insider Trade Summary
784,314 shares exercised/converted
Exercise
3 txns
Insider
Gallagher Cam
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Warrant (right to buy) F3 | 784,314 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 784,314 | $1.15 | $902K |
| holding | Common Stock F1, F2 | -- | -- | -- |
Holdings After Transaction:
Warrant (right to buy) — 0 contracts (Direct);
Common Stock — 2,800,111 shares (Direct);
Common Stock — 83,000 shares (Indirect, By Garret Gallagher - Custodian UTMA/UGMA)
Footnotes (3)
- F1. In conjunction with the exercise of the Warrant reported herein, the Reporting Person entered into a Lock-Up Agreement with the Issuer dated September 6, 2026 (the "Lock-Up Agreement"). Pursuant to the Lock-Up Agreement, among other terms, the Reporting Person agreed that, without the prior written consent of the Issuer, during the period beginning on September 6, 2026 and ending at the close of business 180 days after the issuance of the shares of Common Stock underlying the Warrant, the Reporting Person will not transfer or dispose of, directly or indirectly, any shares of Common Stock, or any securities convertible into or exercisable or exchangeable for Common Stock (including, without limitation, Common Stock or such other securities which may be deemed to be beneficially owned by the Reporting Person and securities which may be issued upon exercise of a stock option or warrant), as further described in the Lock-Up Agreement and subject to certain exclusions described therein.
- F2. These securities are held of record by the Reporting Person as custodian for a minor child under the Uniform Transfer to Minors Act. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- F3. The Warrant was immediately exercisable upon its acquisition on March 24, 2025, subject to the Issuer's right to call the Warrant at any time beginning 30 days following the release of the Issuer's OPGx-BEST1 DUO-1001 Cohort 1 data upon achievement of (i) a volume weighted average price of the Issuer's Common Stock for 30 consecutive trading days of over $1.725 per share and (ii) the trading average daily volume for such 30 day period exceeding $150,000 per trading day.
Key Figures
Warrant shares exercised: 784,314 shares
Exercise price: $1.15 per share
Direct holdings after transaction: 2,800,111 shares
+5 more
8 metrics
Warrant shares exercised
784,314 shares
Warrant to buy Opus Genetics common stock exercised on September 8, 2026
Exercise price
$1.15 per share
Exercise price for 784,314 warrant shares of Opus Genetics common stock
Direct holdings after transaction
2,800,111 shares
Opus Genetics common stock directly held by Cam Gallagher after the warrant exercise
Indirect custodial holdings
83,000 shares
Shares held by Cam Gallagher as custodian for a minor under UTMA/UGMA
Lock-up period
180 days
Duration after issuance of warrant shares during which transfers are restricted
VWAP call condition
$1.725 per share
30-day volume weighted average price threshold for issuer’s call right on the warrant
Trading volume call condition
$150,000 per day
Average daily trading volume threshold over 30 days for issuer’s call right on the warrant
Warrant expiration date
March 25, 2030
Stated expiration date of the Opus Genetics warrant that was exercised
Key Terms
Lock-Up Agreement, Uniform Transfer to Minors Act, volume weighted average price, beneficial ownership
4 terms
Lock-Up Agreement regulatory
"the Reporting Person entered into a Lock-Up Agreement with the Issuer"
A lock-up agreement is a contract that prevents company insiders and early investors from selling their shares for a fixed period after a stock sale, often after an initial public offering. It matters to investors because it temporarily limits the number of shares that can hit the market, which can keep the share price steadier; when the lock-up ends, a sudden increase in available shares can create extra volatility, revealing insiders’ confidence or lack thereof.
Uniform Transfer to Minors Act regulatory
"as custodian for a minor child under the Uniform Transfer to Minors Act"
volume weighted average price financial
"a volume weighted average price of the Issuer's Common Stock"
The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What did Opus Genetics (IRD) director Cam Gallagher report on this Form 4?
Cam Gallagher reported exercising a warrant to acquire 784,314 Opus Genetics common shares on September 8, 2026 at an exercise price of $1.15 per share, increasing his reported direct holdings to 2,800,111 shares of common stock.
What were the terms of the Opus Genetics (IRD) warrant exercised by Cam Gallagher?
The warrant gave a right to buy 784,314 shares of Opus Genetics common stock at $1.15 per share, was immediately exercisable upon acquisition on March 24, 2025, and was subject to a potential call right tied to a $1.725 30-day VWAP and $150,000 average daily trading volume conditions.
Is Cam Gallagher’s indirect Opus Genetics (IRD) holding considered beneficial ownership?
The 83,000 Opus Genetics shares are held of record by Cam Gallagher as custodian for a minor under the Uniform Transfers to Minors Act. He disclaims beneficial ownership of these securities except to the extent of his pecuniary interest, if any.
Was the Form 4 transaction for Opus Genetics (IRD) reported under a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is marked false, and there is no footnote stating that the warrant exercise or related transactions were made under a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
