ARCH Venture Fund boosts Kardigan (KARD) stake with 1.25M-share open-market buy
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Kardigan, Inc. director and 10% owner Paul L. Berns reported an indirect open-market purchase by ARCH Venture Fund XIII, L.P. of 1,250,000 shares of common stock at $16.00 per share. After this transaction, ARCH’s indirect holdings totaled 15,042,035 shares, while Berns directly held 20,706 shares.
Positive
- None.
Negative
- None.
Insights
Large affiliated fund increases Kardigan stake via open-market purchase.
The filing shows an open-market purchase of 1,250,000 Kardigan shares at $16.00 per share by ARCH Venture Fund XIII, L.P., an entity associated with director and 10% owner Paul L. Berns through fund general partner structures.
Following this buy, ARCH’s indirect position reached 15,042,035 shares, while Berns also reported 20,706 shares held directly. The footnote clarifies layered ownership and that various ARCH entities and committee members may be deemed beneficial owners only to the extent of their pecuniary interests.
The transaction is classified as an open-market purchase, which is typically a discretionary decision rather than automatic compensation or tax withholding. Its overall significance depends on Kardigan’s total shares outstanding and future changes in ARCH’s reported ownership across subsequent filings.
Insider Trade Summary
Net Buyer: 1,250,000 shares ($20,000,000)
Net Buy
2 txns
Insider
BERNS PAUL L
Role
null
Bought
1,250,000 shs ($20.00M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 1,250,000 | $16.00 | $20.00M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 15,042,035 shares (Indirect, By ARCH Venture Fund XIII, L.P.);
Common Stock — 20,706 shares (Direct, null)
Footnotes (1)
- These securities are directly held by ARCH Venture Fund XIII, L.P. ("ARCH XIII"). ARCH Venture Partners XIII, L.P. ("AVP XIII LP") is the general partner of ARCH XIII. ARCH Venture Partners XIII, LLC ("AVP XIII LLC") is the general partner of AVP XIII LP. Paul Berns, Kristina M. Burow, Keith Crandell, Steven Gillis and Robert Nelsen are members of the investment committee of AVP XIII LLC (the "AVP XIII LLC Committee Members"). Each of AVP XIII LP and AVP XIII LLC may be deemed to beneficially own the shares held by ARCH XIII, and each of the AVP XIII LLC Committee Members may be deemed to share the power to direct the disposition and vote of the shares held by ARCH XIII. Each of AVP XIII LP, AVP XIII LLC and the AVP XIII LLC Committee Members disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any. Each share is represented by a restricted stock unit ("RSU"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock upon settlement. The RSUs vest in full on June 17, 2028, subject to the Reporting Person's continuous service as of the applicable vesting date.
Key Figures
Open-market purchase size: 1,250,000 shares
Purchase price: $16.00 per share
Indirect holdings after trade: 15,042,035 shares
+1 more
4 metrics
Open-market purchase size
1,250,000 shares
Common Stock bought by ARCH Venture Fund XIII, L.P.
Purchase price
$16.00 per share
Price for 1,250,000-share open-market buy
Indirect holdings after trade
15,042,035 shares
Common Stock indirectly held by ARCH Venture Fund XIII, L.P. after purchase
Direct holdings after trade
20,706 shares
Common Stock directly held by Paul L. Berns
Key Terms
open-market purchase, beneficially own, pecuniary interest, restricted stock unit ("RSU")
4 terms
open-market purchase financial
"transaction_action: open-market purchase"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
beneficially own financial
"Each of AVP XIII LP and AVP XIII LLC may be deemed to beneficially own the shares held by ARCH XIII"
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.
pecuniary interest financial
"disclaims beneficial ownership except to the extent of their pecuniary interest therein"
restricted stock unit ("RSU") financial
"Each share is represented by a restricted stock unit ("RSU")."
FAQ
What insider transaction did Kardigan (KARD) report for Paul L. Berns?
Kardigan reported that an entity associated with director and 10% owner Paul L. Berns, ARCH Venture Fund XIII, L.P., made an open-market purchase of 1,250,000 shares of common stock at $16.00 per share, increasing its indirect holdings to 15,042,035 shares.
What are Paul L. Berns’ direct holdings in Kardigan (KARD) after this Form 4?
The Form 4 shows Paul L. Berns directly holding 20,706 shares of Kardigan common stock after the reported transactions. This direct position is separate from the much larger indirect stake held through ARCH Venture Fund XIII and its related general partner entities.
What does the Form 4 say about beneficial ownership and pecuniary interest in Kardigan (KARD)?
The filing explains that ARCH Venture Fund XIII, related general partners, and investment committee members may be deemed beneficial owners of shares held by ARCH. Each party, however, disclaims beneficial ownership except to the extent of its pecuniary interest in those Kardigan shares.