[Form 4] Kardigan, Inc. Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Kardigan, Inc. insiders associated with HRTG funds converted multiple series of redeemable convertible preferred stock into Common Stock on June 17, 2026. The Series A, Series B and Series B-1 preferred shares all automatically converted into Common Stock on a 1.5928-to-1 basis when Kardigan’s Form S-1 registration statement became effective, without additional cash payment. Following these conversions, HRTG PV, L.P. held 11,741,868 Common Stock shares indirectly and HRTG CIF 2024, L.P. held 2,050,166 shares indirectly. The filing reports derivative conversions only, with no open-market purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
8,658,987 shares exercised/converted
Mixed
8 txns
Insider
HRTG GPE, LLC, HRTG PV, L.P., SCHF CIF 2024, L.P., Kelly Kevin Anthony, Johnson Keith Bryon
Role
null | null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Redeemable Convertible Preferred Stock | 1,287,146 | $0.00 | -- |
| Conversion | Series A Redeemable Convertible Preferred Stock | 3,861,440 | $0.00 | -- |
| Conversion | Series B Redeemable Convertible Preferred Stock | 2,036,033 | $0.00 | -- |
| Conversion | Series B-1 Redeemable Convertible Preferred Stock | 1,474,368 | $0.00 | -- |
| Conversion | Common Stock | 2,050,166 | $0.00 | -- |
| Conversion | Common Stock | 6,150,502 | $0.00 | -- |
| Conversion | Common Stock | 3,242,993 | $0.00 | -- |
| Conversion | Common Stock | 2,348,373 | $0.00 | -- |
Holdings After Transaction:
Series A Redeemable Convertible Preferred Stock — 0 shares (Indirect, HRTG CIF 2024, L.P.);
Series B Redeemable Convertible Preferred Stock — 0 shares (Indirect, HRTG PV, L.P.);
Series B-1 Redeemable Convertible Preferred Stock — 0 shares (Indirect, HRTG PV, L.P.);
Common Stock — 2,050,166 shares (Indirect, HRTG CIF 2024, L.P.)
Footnotes (1)
- Each share of Series A Redeemable Convertible Preferred Stock, Series B Redeemable Convertible Preferred Stock and Series B-1 Redeemable Convertible Preferred Stock was convertible into shares of the Issuer's Common Stock on a 1.5928-to-1 basis with no expiration date. All shares of Series A Redeemable Convertible Preferred Stock, Series B Redeemable Convertible Preferred Stock and Series B-1 Redeemable Convertible Preferred Stock automatically converted on a 1.5928-to-1 basis into shares of Common Stock without the payment of additional consideration at the time the Issuer's registration statement on Form S-1 was declared effective by the Securities and Exchange Commission. HRTG GPE, LLC ("HRTG") is the general partner of each of HRTG PV, L.P. and HRTG CIF 2024, L.P. Keith Johnson and Kevin Kelly each serve as a Managing Member of HRTG.
Key Figures
Total derivative shares converted: 8,658,987 shares
Conversion ratio: 1.5928-to-1
HRTG PV Common Stock holding: 11,741,868 shares
+3 more
6 metrics
Total derivative shares converted
8,658,987 shares
Underlying Common Stock shares from conversions on June 17, 2026
Conversion ratio
1.5928-to-1
Preferred stock to Common Stock, no expiration date
HRTG PV Common Stock holding
11,741,868 shares
Indirect Common Stock position after conversions
HRTG CIF 2024 Common Stock holding
2,050,166 shares
Indirect Common Stock position after conversions
Conversion transactions
8 entries
Form 4 transactions coded C as derivative conversions
Derivative transactions
4 entries
Preferred stock reported as derivative-type transactions
Key Terms
Series A Redeemable Convertible Preferred Stock, Series B Redeemable Convertible Preferred Stock, Series B-1 Redeemable Convertible Preferred Stock, conversion of derivative security, +2 more
6 terms
Series A Redeemable Convertible Preferred Stock financial
"Each share of Series A Redeemable Convertible Preferred Stock...was convertible into shares of the Issuer's Common Stock"
Series B Redeemable Convertible Preferred Stock financial
"Series B Redeemable Convertible Preferred Stock...automatically converted on a 1.5928-to-1 basis into shares of Common Stock"
Series B-1 Redeemable Convertible Preferred Stock financial
"Series B-1 Redeemable Convertible Preferred Stock automatically converted...into shares of Common Stock"
conversion of derivative security financial
"transaction_code_description": "Conversion of derivative security""
registration statement on Form S-1 regulatory
"at the time the Issuer's registration statement on Form S-1 was declared effective"
A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.
general partner financial
"HRTG GPE, LLC ("HRTG") is the general partner of each of HRTG PV, L.P. and HRTG CIF 2024, L.P."
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
