908 Devices Inc. SEC Filings

908 Devices insider Brandi C. Vann received equity awards on 08/01/2025. The filing reports 15,577 Restricted Stock Units (RSUs) and a stock option to buy 20,409 shares at $5.14. The RSUs convert one-for-one to common shares when vested and vest in substantially equal annual installments over three years, subject to continued service with prorated vesting on termination. The option shares vest in substantially equal monthly installments over 36 months beginning 08/01/2025. The Form 4 was filed late due to an inadvertent administrative error.

SSGA Funds Management, Inc. and State Street Corporation reported beneficial ownership of 908 Devices Inc. common stock. State Street disclosed 2,286,634 shares (6.4% of the class) and SSGA Funds Management disclosed 1,839,877 shares (5.1% of the class). Both reporting persons indicate no sole voting or dispositive power and instead report substantial shared voting and shared dispositive powers (State Street: 2,255,847 shared votes; SSGA: 1,834,577 shared votes). Filers certify these holdings were acquired in the ordinary course of business and not to change or influence control of the issuer.

Q2-25 continuing ops showed top-line growth but remained unprofitable. Revenue rose 14% YoY to $13.0 M, driven by handheld device sales (+13%) and recurring revenue (+28%). Gross profit improved 3% to $6.4 M, yet margin contracted to 48.9% (53.8% LY) as product cost inflation outpaced pricing. Operating expenses climbed 47% to $21.5 M, largely from a $6.8 M fair-value increase in RedWave acquisition earn-out; R&D grew 23% and SG&A eased 7%. As a result, loss from continuing ops widened to $12.9 M (-$7.6 M LY), or –$0.36 per share.

Strategic divestiture transformed the six-month picture. On 4 Mar 25, MASS sold its Desktop Portfolio to Repligen for $69.9 M cash, booking a $56.2 M pre-tax gain. Including this, H1-25 net income reached $30.3 M versus a $23.5 M loss LY; EPS swung to +$0.85. Cash & equivalents jumped to $61.8 M (43.4 M YE-24) and marketable securities to $56.8 M, lifting current assets to $147.9 M. Total liabilities fell slightly to $42.9 M, though a new $11.6 M current liability reflects contingent consideration. Operating cash burn for H1 was $20.8 M, covered by divestiture proceeds; capex remained modest at $0.3 M. Shares outstanding were 36.06 M at 30 Jun 25. A June-25 master supply agreement secures $6.6 M in committed orders over three years, with a $0.75 M upfront payment received in July.

Christopher D. Brown filed an initial Statement of Beneficial Ownership (Form 3) for 908 Devices (MASS) following his appointment as Director. The filing reveals significant equity holdings as of June 13, 2025:

• Direct Common Stock ownership: 962,122 shares
• Stock Options: Total of 320,404 shares at various exercise prices ranging from $1.75 to $16.66, with different vesting schedules
• Restricted Stock Units (RSUs): 52,837 units vesting over four annual installments from 2022-2024

The stock options include both fully vested options and those with future vesting schedules through 2025. RSUs represent contingent rights to receive common stock upon vesting, with no expiration date. This substantial equity position aligns the director's interests with shareholders and indicates a long-term commitment to the company.

Michael S. Turner, Chief Legal & Administrative Officer of 908 Devices (MASS), executed a series of planned stock sales under a Rule 10b5-1 trading plan over three consecutive days in June 2025:

• June 16: Sold 16,082 shares at weighted average price of $7.5139
• June 17: Sold 7,148 shares at weighted average price of $7.506
• June 18: Sold remaining 1,373 shares at $7.50

The transactions resulted in a complete liquidation of Turner's direct common stock holdings, reducing his position from 24,603 shares to zero. All sales were executed pursuant to a pre-established Rule 10b5-1 trading plan, which provides a safe harbor from insider trading allegations by determining the timing and terms of trades in advance.