Opus Genetics CEO gets 316K shares in warrant

The CEO exercised a warrant cashlessly, receiving 316,616 Opus Genetics common shares after 75,541 shares were withheld to pay the exercise price.

Rhea-AI Filing Summary

Opus Genetics, Inc. (IRD) reported that Chief Executive Officer and director George Magrath exercised a warrant for 392,157 shares of Common Stock on September 9, 2026 at an exercise price of $1.15 per share. The exercise was completed on a cashless basis, with 75,541 shares withheld to pay the exercise price and 316,616 shares issued to him. The warrant, which was immediately exercisable upon acquisition on March 24, 2025 and subject to specified stock-price and trading-volume call conditions, now shows no remaining derivative position in this filing.

Insider Trade Summary

392,157 shares exercised/converted

Exercise 3 txns

Insider Magrath George

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Warrant (right to buy) F2	392,157	$0.00	$0.00
Exercise	Common Stock	392,157	$1.15	$451K
Exercise Price Payment	Common Stock F1	75,541	$5.97	$451K

Holdings After Transaction: Warrant (right to buy) — 0 contracts (Direct); Common Stock — 2,048,485 shares (Direct)

Footnotes (2)

1. F1. The Reporting Person paid the exercise price of the Warrant on a cashless basis. The Issuer withheld 75,541 shares, calculated in accordance with the terms of the Warrant, to pay the exercise price and issued the remaining 316,616 shares to the Reporting Person.
2. F2. 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: 392,157 shares Warrant exercise price: $1.15 per share Shares withheld for exercise price: 75,541 shares +3 more

6 metrics

Warrant shares exercised 392,157 shares Common Stock underlying the warrant exercised on September 9, 2026

Warrant exercise price $1.15 per share Conversion or exercise price of the Warrant (right to buy) into Common Stock

Shares withheld for exercise price 75,541 shares Shares withheld on a cashless basis to pay the warrant exercise price

Value used for withheld shares $5.97 per share Per-share value applied to the 75,541 withheld shares in the cashless exercise

Shares issued to CEO 316,616 shares Common shares issued to the reporting person after withholding shares for the exercise price

Warrant expiration date March 25, 2030 Stated expiration date of the Warrant (right to buy) before exercise

Key Terms

cashless basis, volume weighted average price, trading average daily volume, immediately exercisable, +1 more

5 terms

cashless basis financial

"paid the exercise price of the Warrant on a cashless basis"

An agreement executed on a cashless basis lets a holder convert or exercise a security (like options, warrants, or conversion rights) without paying money upfront; instead the holder receives a smaller number of shares equal in value to what the cash would have purchased. Think of trading a coupon for fewer slices of a cake rather than handing over cash for the full slice. For investors, it affects how much ownership and dilution occur and avoids immediate cash outlays.

volume weighted average price financial

"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.

trading average daily volume financial

"the trading average daily volume for such 30 day period"

immediately exercisable financial

"The Warrant was immediately exercisable upon its acquisition"

Warrant financial

"The Warrant was immediately exercisable upon its acquisition"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

FAQ

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

What did the CEO of IRD report in this Form 4 transaction?

George Magrath, Chief Executive Officer of Opus Genetics, Inc. (IRD), reported exercising a warrant for 392,157 shares of Common Stock on September 9, 2026, using a cashless exercise structure that resulted in new shares being issued to him.

How many IRD shares did the CEO receive from the warrant exercise?

From the cashless exercise, the CEO received 316,616 shares of Opus Genetics Common Stock. According to the footnote, the issuer withheld 75,541 shares to pay the exercise price and issued the remaining 316,616 shares to the reporting person.

What were the key prices in the IRD CEO’s Form 4 transactions?

The warrant was exercised for 392,157 shares at an exercise price of $1.15 per share. To pay this exercise price on a cashless basis, 75,541 shares were withheld at a value of $5.97 per share, as stated in the Form 4 data and footnotes.

Was the IRD CEO’s Form 4 transaction under a Rule 10b5-1 plan?

No. The Form 4 indicates no Rule 10b5-1 trading plan for these transactions; the document-level checkbox is not affirmed, and the footnotes do not state that the trades were made under any pre-arranged trading plan.

What were the terms of the IRD warrant that the CEO exercised?

The warrant was immediately exercisable upon acquisition on March 24, 2025. It was subject to the issuer’s right to call it after certain conditions were met, including a volume weighted average price over $1.725 for 30 consecutive trading days and specified trading average daily volume thresholds.

Does the IRD Form 4 show any remaining warrant position for the CEO?

No. The Form 4 reports the warrant for 392,157 underlying shares as exercised with 0 derivative shares following the transaction, indicating that this particular warrant position was fully exercised in the reported transaction.

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

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Available on EDGAR 09/11/2026 - 04:10 PM Accepted by SEC EDGAR 09/11/2026 - 04:09 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^*

Magrath George

(Last) (First) (Middle)

C/O OPUS GENETICS, INC.

8 DAVIS DRIVE, SUITE 220

(Street)

DURHAM NORTH CAROLINA 27713

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2026

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
Common Stock	09/09/2026		M		392,157	A	$1.15	2,124,026	D
Common Stock	09/09/2026		F(1)		75,541	D	$5.97	2,048,485	D

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
Warrant (right to buy)	$1.15	09/09/2026		M			392,157	(2)	03/25/2030	Common Stock	392,157	$0	0	D

Explanation of Responses:

1. The Reporting Person paid the exercise price of the Warrant on a cashless basis. The Issuer withheld 75,541 shares, calculated in accordance with the terms of the Warrant, to pay the exercise price and issued the remaining 316,616 shares to the Reporting Person.

2. 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.

	/s/ Amy Rabourn, by Power of Attorney	09/11/2026
	** 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)