Veradermics (MANE) CTO awarded 213,352 options as Series A converts to common
Rhea-AI Filing Summary
Veradermics, Inc. Chief Technical Officer Timothy August Durso reported stock-based transactions and updated his holdings. On February 3, 2026, he received a stock option grant for 213,352 shares of common stock at an exercise price of $17 per share. The option vests 25% on February 3, 2027, with the remaining shares vesting in equal monthly installments over 36 months, subject to continued service.
On February 5, 2026, 1,473 shares of Series A Convertible Preferred Stock automatically converted to 1,473 shares of common stock on a 10.067-for-1 basis without additional payment, immediately before the company’s initial public offering. After these transactions, Durso directly held 118,190 common shares and had an option over 213,352 shares, and 116,717 common shares were held indirectly by the Durso Family Trust. The trust is for the benefit of his children, is administered by his spouse as trustee, and Durso disclaims beneficial ownership of those trust-held shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Convertible Preferred Stock | 1,473 | $0.00 | -- |
| Conversion | Common Stock | 1,473 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 213,352 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- On February 5, 2026, the shares of Series A Convertible Preferred Stock automatically converted into shares of the Issuer's common stock, par value $0.00001 per share (the "Common Stock"), on a 10.067-for-1 basis without payment of further consideration immediately prior to the closing of the Issuer's initial public offering. The shares have no expiration date. These shares are held in a trust for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. The option vests as to 25% of the underlying shares of Common Stock on February 3, 2027, the first anniversary of the vesting commencement date, and as to the remaining shares, in equal monthly installments over 36 months thereafter, subject to continued service.
