Retension Pharmaceuticals: 40,258-share director options
Both option grants vest in monthly 1/36 increments, subject to continued service on each vesting date.
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Form Type
3
Rhea-AI Filing Summary
Retension Pharmaceuticals, Inc. (RTSN) lists director Michael J. Berendt as holding options covering 40,258 common shares at an exercise price of $1.4300, expiring September 22, 2034, and options covering 24,155 shares at $2.4300, expiring October 30, 2035. He also directly holds 4,026 Series A and 2,640 Series B convertible preferred shares. Each preferred share converts into one common share, and both classes automatically convert immediately before the issuer's initial public offering without payment of consideration.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
BERENDT MICHAEL J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy) F1 | -- | -- | -- |
| holding | Stock Option (right to buy) F2 | -- | -- | -- |
| holding | Series A Convertible Preferred Stock F3 | -- | -- | -- |
| holding | Series B Convertible Preferred Stock F4 | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 64,413 contracts (Direct);
Series A Convertible Preferred Stock — 4,026 contracts (Direct);
Series B Convertible Preferred Stock — 2,640 contracts (Direct)
Footnotes (4)
- F1. Granted to the Reporting Person on September 23, 2024. The stock options vest 1/36 monthly beginning December 21, 2023, subject to the Reporting Person's continued service to the Issuer on each vesting date.
- F2. Granted to the Reporting Person on October 31, 2025. The stock options vest 1/36 monthly beginning September 29, 2025, subject to the Reporting Person's continued service to the Issuer on each vesting date.
- F3. The Series A Convertible Preferred Stock (the "Series A Preferred Stock") is convertible into one share of Common Stock at any time at the option of the holder. The Series A Preferred Stock will automatically convert immediately prior to the closing of the Issuer's initial public offering into the number of shares shown in column 3 without payment of consideration. The Series A Preferred Stock has no expiration date.
- F4. The Series B Convertible Preferred Stock (the "Series B Preferred Stock") is convertible into one share of Common Stock at any time at the option of the holder. The Series B Preferred Stock will automatically convert immediately prior to the closing of the Issuer's initial public offering into the number of shares shown in column 3 without payment of consideration. The Series B Preferred Stock has no expiration date.
Key Figures
Common shares underlying first option: 40,258 shares
Exercise price: $1.4300
Common shares underlying second option: 24,155 shares
+3 more
6 metrics
Common shares underlying first option
40,258 shares
Exercise price $1.4300; expiration September 22, 2034
Exercise price
$1.4300
First option covering 40,258 common shares
Common shares underlying second option
24,155 shares
Exercise price $2.4300; expiration October 30, 2035
Exercise price
$2.4300
Second option covering 24,155 common shares
Series A Convertible Preferred Stock
4,026 shares
Direct holding; each share converts into one Common Stock share
Series B Convertible Preferred Stock
2,640 shares
Direct holding; each share converts into one Common Stock share
Key Terms
Series A Convertible Preferred Stock, Series B Convertible Preferred Stock, vest 1/36 monthly, initial public offering
4 terms
Series A Convertible Preferred Stock financial
"The Series A Convertible Preferred Stock is convertible into one share of Common Stock"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
Series B Convertible Preferred Stock financial
"The Series B Convertible Preferred Stock is convertible into one share of Common Stock"
Series B convertible preferred stock is a class of shares sold during a later-stage private financing that combines features of a loan and common stock: it usually pays priority dividends or has a priority claim if the company is sold, and it can be converted into common shares under predefined rules. Investors care because these shares affect ownership stakes and payout order—like having a reserved place in line and a ticket that can turn into regular ownership—so they influence potential returns and dilution for other shareholders.
vest 1/36 monthly financial
"The stock options vest 1/36 monthly beginning December 21, 2023"
initial public offering financial
"immediately prior to the closing of 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.
What are the vesting terms for Michael J. Berendt's RTSN options?
The options covering 40,258 shares were granted September 23, 2024, and are described as vesting 1/36 monthly beginning December 21, 2023. The options covering 24,155 shares were granted October 31, 2025, and vest 1/36 monthly beginning September 29, 2025. Both schedules require continued service on each vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
