Foundation Fighting Blindness fund trims Opus Genetics (IRD) stake with 1.7M-share sale

Rhea-AI Filing Summary

Opus Genetics, Inc. director entities Foundation Fighting Blindness Retinal Degeneration Fund and Foundation Fighting Blindness, Inc. reported an open-market sale of 1,700,000 shares of Common Stock of Opus Genetics at $4.35 per share.

The shares are owned directly by Foundation Fighting Blindness Retinal Degeneration Fund, whose board controls voting and investment decisions, while Foundation Fighting Blindness, Inc. is its sole member and may be deemed to beneficially own these securities. After the transaction, the reporting entities continue to hold 3,792,171 shares of Opus Genetics common stock.

Insights

Equity ownership and governance analyst

Director-affiliated fund sold 1.7M Opus Genetics shares but retains a sizable position.

Foundation Fighting Blindness Retinal Degeneration Fund, a director-affiliated holder of Opus Genetics, Inc., executed an open-market sale of 1,700,000 common shares at $4.35 per share. This is classified as a straightforward disposition rather than an options exercise or tax event.

Following the sale, the fund still holds 3,792,171 common shares, so it maintains substantial exposure. Governance remains nuanced: the fund directly controls voting and investment decisions, while Foundation Fighting Blindness, Inc. is the sole member and may be deemed a beneficial owner through its relationship with the fund.

Insider Trade Summary

Net Seller: 1,700,000 shares

Net Sell 1 txn

Insider Foundation Fighting Blindness Retinal Degeneration Fund, Foundation Fighting Blindness, Inc.

Role Director | Director

Sold 1,700,000 shs ($7.39M)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,700,000	$4.35	$7.39M

Holdings After Transaction: Common Stock — 3,792,171 shares (Direct)

Footnotes (1)

1. F1. Foundation Fighting Blindness, Inc. ("FFB") is the sole member of Foundation Fighting Blindness Retinal Degeneration Fund ("RDF") and may be deemed to beneficially own the securities owned directly by RDF. RDF has the power to vote and dispose of any securities directly owned by RDF. RDF's board of directors makes voting and investment decisions regarding securities held by RDF, subject to certain approval rights of the board of directors of FFB with respect to transactions exceeding a certain threshold.

Key Figures

Shares sold: 1,700,000 shares Sale price per share: $4.35 per share Shares held after transaction: 3,792,171 shares

3 metrics

Shares sold 1,700,000 shares Open-market sale of Opus Genetics common stock

Sale price per share $4.35 per share Price for the 1,700,000 common shares sold

Shares held after transaction 3,792,171 shares Opus Genetics common stock remaining after the sale

Key Terms

open-market sale, beneficially own, voting and investment decisions, non-derivative

4 terms

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

beneficially own financial

"may be deemed to beneficially own the securities owned directly by RDF"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

voting and investment decisions financial

"RDF's board of directors makes voting and investment decisions regarding securities held by RDF"

non-derivative financial

"transaction_type: "non-derivative""

FAQ

What insider transaction did IRD’s director-affiliated entities report?

They reported an open-market sale of 1,700,000 Opus Genetics common shares at $4.35 per share. The transaction was executed by Foundation Fighting Blindness Retinal Degeneration Fund, which directly owns the shares and makes voting and investment decisions through its board.

Who actually holds the Opus Genetics (IRD) shares involved in this Form 4?

The shares are held directly by Foundation Fighting Blindness Retinal Degeneration Fund. Its board controls voting and investment decisions, while Foundation Fighting Blindness, Inc. is the sole member and may be deemed to beneficially own the securities through that relationship.

How many Opus Genetics (IRD) shares remain after the reported sale?

After selling 1,700,000 common shares, the reporting entities continue to hold 3,792,171 Opus Genetics shares. This indicates they still retain a significant equity stake in the company following the open-market disposition reported in the Form 4 filing.

Was the IRD insider transaction a purchase or a sale of shares?

The transaction was a sale of Opus Genetics common stock, coded as an open-market sale. It involved 1,700,000 shares sold at $4.35 per share, reflecting a reduction, not an increase, in the reporting entities’ shareholdings.

What role does Foundation Fighting Blindness, Inc. have in the IRD shareholding?

Foundation Fighting Blindness, Inc. is the sole member of the Foundation Fighting Blindness Retinal Degeneration Fund and may be deemed to beneficially own its Opus Genetics shares. However, the fund’s board makes the actual voting and investment decisions for those securities.

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/20/2026 - 07:29 PM Learn about SEC filing dates

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^*

Foundation Fighting Blindness Retinal Degeneration Fund

(Last) (First) (Middle)

223 S. WEST STREET, SUITE 900

(Street)

RALEIGH NORTH CAROLINA 27603

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Opus Genetics, Inc. [ IRD ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

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

	Form filed by One Reporting Person
X	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
Common Stock	05/18/2026		S		1,700,000	D	$4.35	3,792,171	D(1)

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

1. Name and Address of Reporting Person^*

Foundation Fighting Blindness Retinal Degeneration Fund

(Last) (First) (Middle)

223 S. WEST STREET, SUITE 900

(Street)

RALEIGH NORTH CAROLINA 27603

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Foundation Fighting Blindness, Inc.

(Last) (First) (Middle)

6925 OAKLAND MILLS ROAD, #701

(Street)

COLUMBIA MARYLAND 21045

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. Foundation Fighting Blindness, Inc. ("FFB") is the sole member of Foundation Fighting Blindness Retinal Degeneration Fund ("RDF") and may be deemed to beneficially own the securities owned directly by RDF. RDF has the power to vote and dispose of any securities directly owned by RDF. RDF's board of directors makes voting and investment decisions regarding securities held by RDF, subject to certain approval rights of the board of directors of FFB with respect to transactions exceeding a certain threshold.

Remarks:

For purposes of Section 16 of the Exchange Act of 1934, as amended, the Reporting Persons may be deemed a director by deputization of Issuer by virtue of the fact that Adrienne Graves, PhD and Jean Bennett, MD, PhD were appointed to serve on the board of directors of Issuer and Dr. Graves is the chair of the board of directors of RDF and a member of the board of directors of FFB and Dr. Bennett is a member of the board of directors of RDF.

	Foundation Fighting Blindness Retinal Degeneration Fund, By: /s/ Russell Kelley, Name/Title: Russell Kelley, Managing Director	05/20/2026
	Foundation Fighting Blindness, Inc. By: /s/ Jason Menzo, Name/Title: Jason Menzo, Chief Executive Officer	05/20/2026
	** 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)