Eli Lilly holds preferred stock for 1.1M Lycia shares

Eli Lilly & Co reported a direct holding of 1,104,558 Lycia Therapeutics common shares issuable upon mandatory conversion of convertible preferred stock in Lycia’s initial public offering.

Rhea-AI Filing Summary

Eli Lilly & Co reported a direct holding of 1,104,558 Lycia Therapeutics common shares issuable upon mandatory conversion of convertible preferred stock in Lycia’s initial public offering. The reported amount excludes additional common shares Eli Lilly purchased in the offering, which were not known when the information was reported. After giving effect to the offering’s closing, including that purchase, Eli Lilly will cease to be a 10% owner and will have no further Section 16 reporting obligations.

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 — 1,104,558 shares (Direct)

Footnotes (1)

1. F1. The reported securities represent shares of Common Stock issuable upon mandatory conversion of convertible preferred stock in the Issuer's initial public offering but do not include shares of Common Stock purchased in the initial public offering, as such amount was not known at the time of this filing. See Remarks below.

Key Figures

Direct shares reported: 1,104,558 shares 10% owner threshold: 10%

2 metrics

Direct shares reported 1,104,558 shares Lycia Therapeutics common shares issuable upon mandatory conversion of convertible preferred stock

10% owner threshold 10% Eli Lilly will cease to be a 10% owner after giving effect to the offering’s closing, including its purchase

Key Terms

mandatory conversion, 10% Owner, Section 16 reporting obligations

3 terms

mandatory conversion financial

"issuable upon mandatory conversion of convertible preferred stock"

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.

10% Owner regulatory

"will cease to be a 10% Owner"

Section 16 reporting obligations regulatory

"no further Section 16 reporting obligations"

FAQ

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

How many Lycia Therapeutics shares did LLY report holding?

Eli Lilly reported a direct holding of 1,104,558 Lycia Therapeutics common shares issuable upon mandatory conversion of convertible preferred stock in Lycia’s initial public offering. The amount excludes common shares Eli Lilly purchased in the offering because that amount was not known when the information was reported.

Will LLY remain a 10% owner of Lycia Therapeutics after the IPO?

After giving effect to the offering’s closing, including Eli Lilly’s purchase in the offering, Eli Lilly will cease to be a 10% owner and will have no further Section 16 reporting obligations.

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

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Available on EDGAR 10/22/2026 - 10:37 PM EDT Accepted by SEC EDGAR 10/22/2026 - 09:37 PM EDT 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)
10/22/2026

3. Issuer Name and Ticker or Trading Symbol
Lycia Therapeutics, Inc. [ LYCA ]

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	1,104,558(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 represent shares of Common Stock issuable upon mandatory conversion of convertible preferred stock in the Issuer's initial public offering but do not include shares of Common Stock purchased in the initial public offering, as such amount was not known at the time of this filing. See Remarks below.

Remarks:

After giving effect to the closing of the Issuer's initial public offering, including the Reporting Person's purchase in such offering, the Reporting Person will cease to be a 10% Owner and, accordingly, will have no further Section 16 reporting obligations.

	/s/ Christopher Anderson, Vice President, Leader of Corporate Securities and Assistant Corporate Secretary	10/22/2026
	** 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)