Eli Lilly reports 5.48M-share TRex Bio position

A ten percent owner’s reported position includes shares issuable upon mandatory conversion and common shares being purchased in the initial public offering.

Rhea-AI Filing Summary

Eli Lilly & Co (LLY), listed as a ten percent owner reporting person for TRex Bio, reported direct holdings of 5,480,872 shares of TRex Bio common stock as of October 8, 2026. The reported shares comprise 4,605,872 shares issuable upon mandatory conversion of convertible preferred stock and 875,000 shares being purchased in TRex Bio's initial public offering.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider ELI LILLY & Co

Role 10% Owner

Type	Security	Shares	Price	Value
holding	Common Stock F1	--	--	--

Holdings After Transaction: Common Stock — 5,480,872 shares (Direct)

Footnotes (1)

1. F1. The reported securities consist of (i) 4,605,872 shares of Common Stock issuable upon mandatory conversion of convertible preferred stock and (ii) 875,000 shares of Common Stock being purchased by the Reporting Person in the Issuer's initial public offering.

Key Figures

Common stock reported as direct holdings: 5,480,872 shares Shares issuable upon mandatory conversion: 4,605,872 shares Common shares being purchased in initial public offering: 875,000 shares

3 metrics

Common stock reported as direct holdings 5,480,872 shares Reported position as of October 8, 2026

Shares issuable upon mandatory conversion 4,605,872 shares Common stock component of the reported securities

Common shares being purchased in initial public offering 875,000 shares Common stock component of the reported securities

Key Terms

mandatory conversion, convertible preferred stock, initial public offering

3 terms

mandatory conversion financial

"issuable upon mandatory conversion"

Mandatory conversion is a rule that forces certain convertible securities—like bonds or preferred shares—to be turned into common stock when specific conditions are met (for example, a date arrives or a price target is hit). For investors this matters because it increases the number of shares outstanding and can dilute existing ownership, shifting value from fixed-income holders into equity holders and changing a company’s risk and return profile, much like an automatic trade that swaps a guaranteed payment for an ownership stake.

convertible preferred stock financial

"conversion of convertible preferred stock"

Convertible preferred stock is a special class of company shares that pays priority, usually fixed, payments to holders and can be exchanged later for a set number of common shares. It matters to investors because it combines steady income and added protection with the chance to share in a company’s upside; think of it as a hybrid between a bond that pays regularly and an option to convert into growth-oriented stock, where the conversion rules influence both potential gains and how much common shareholders’ ownership may be reduced.

initial public offering financial

"being purchased in the Issuer's initial public offering"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

FAQ

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

How many shares did Eli Lilly & Co (LLY) report holding in TRex Bio?

Eli Lilly & Co reported direct holdings of 5,480,872 shares of TRex Bio common stock as of October 8, 2026. The reported shares comprise 4,605,872 shares issuable upon mandatory conversion of convertible preferred stock and 875,000 shares being purchased in TRex Bio's initial public offering.

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

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Available on EDGAR 10/08/2026 - 09:45 PM Accepted by SEC EDGAR 10/08/2026 - 09:39 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

ELI LILLY & Co

(Last) (First) (Middle)

LILLY CORPORATE CENTER

(Street)

INDIANAPOLIS INDIANA 46285

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
10/08/2026

3. Issuer Name and Ticker or Trading Symbol
TRex Bio, Inc. [ TRXB ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

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

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	5,480,872(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported securities consist of (i) 4,605,872 shares of Common Stock issuable upon mandatory conversion of convertible preferred stock and (ii) 875,000 shares of Common Stock being purchased by the Reporting Person in the Issuer's initial public offering.

Remarks:

	/s/ Christopher Anderson, Vice President, Leader of Corporate Securities and Assistant Corporate Secretary	10/08/2026
	** 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 5 (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 3: SEC 1473 (03-26)