Seaport Therapeutics (SPTX) CSO details option grants and Series B conversion
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Seaport Therapeutics, Inc. executive Michael Cunyuan Chen, Chief Scientific Officer, reported his existing equity holdings in a Form 3. He holds several stock options over Common Stock, including options covering 63,680 shares at an exercise price of $10.3100 per share expiring in 2036 and 400,618 shares at $3.0500 per share expiring in 2034. Additional options cover 86,267 and 18,042 underlying shares at an exercise price of $7.3900 with expirations in 2035 and 2034. He also holds Series B Preferred Stock that is convertible into 3,351 shares of Common Stock on a one-for-3.1407 basis, with automatic conversion upon the closing of the company’s initial public offering as described. Footnotes indicate these options vest over time, with some tranches already fully vested and exercisable.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Chen Michael Cunyuan
Role
Chief Scientific Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series B Preferred Stock | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
Holdings After Transaction:
Series B Preferred Stock — 3,351 shares (Direct);
Stock Option (Right to Buy) — 400,618 shares (Direct)
Footnotes (1)
- Each share of Series B Preferred Stock (the "Preferred Stock") is convertible into Common Stock of the Issuer on a one-for-3.1407 basis at the option of the holder, and will automatically convert upon the closing of the Issuer's initial public offering into the number of shares shown in Column 3 without payment of further consideration. The Preferred Stock has no expiration date. 1/4th of the shares underlying this option vested and became exercisable on April 9, 2025, with the remaining shares vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each vesting date. The shares underlying this option are fully vested and exercisable. 1/4th of the shares underlying this option vested and became exercisable on January 26, 2026, with the remaining shares vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each vesting date. The shares underlying this option shall vest in forty-eight (48) equal monthly installments following February 24, 2026, subject to the Reporting Person's continued service on each such vesting date.
Key Figures
Option underlying shares: 63,680 shares
Option exercise price: $10.3100/share
Large option grant: 400,618 shares
+5 more
8 metrics
Option underlying shares
63,680 shares
Stock Option at $10.3100, expiration 2036-02-23
Option exercise price
$10.3100/share
Stock Option over 63,680 Common shares
Large option grant
400,618 shares
Stock Option at $3.0500, expiration 2034-06-03
Mid-size option grant
86,267 shares
Stock Option at $7.3900, expiration 2035-01-25
Smaller option grant
18,042 shares
Stock Option at $7.3900, expiration 2034-12-28
Series B conversion
3,351 shares
Underlying Common Stock from Series B Preferred
Conversion ratio
1 : 3.1407
Series B Preferred to Common Stock
Vesting schedule
36 monthly installments
After initial 25% vest for certain options
Key Terms
Stock Option (Right to Buy), Series B Preferred Stock, exercise price, vesting, +1 more
5 terms
Stock Option (Right to Buy) financial
"security_title: "Stock Option (Right to Buy)" over Common Stock"
Series B Preferred Stock financial
"security_title: "Series B Preferred Stock" convertible into Common Stock"
Series B preferred stock is a type of ownership share issued by a company that offers certain advantages over common stock, such as priority in receiving dividends or assets if the company is sold or liquidated. It is typically issued after an initial round of funding, making it a way for investors to support a company's growth while gaining some protections and benefits. This stock matters to investors because it often provides a more secure investment position with potential for future growth.
exercise price financial
"conversion_or_exercise_price values such as "10.3100" and "3.0500""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
vesting financial
"footnotes describe shares vesting in equal monthly installments"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
initial public offering financial
"Preferred Stock will automatically convert upon 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
What did Seaport Therapeutics (SPTX) disclose in this Form 3 for Michael Cunyuan Chen?
Seaport Therapeutics reported Chief Scientific Officer Michael Cunyuan Chen’s existing equity holdings. The filing lists several stock option grants over Common Stock and a position in Series B Preferred Stock convertible into 3,351 Common shares, providing transparency into his current equity-based compensation.
What are the exercise prices of Michael Chen’s Seaport Therapeutics (SPTX) stock options?
Michael Chen’s reported stock options have exercise prices of $10.3100, $7.3900, and $3.0500 per share. Each grant has its own expiration date between 2034 and 2036, defining the window during which the options can be exercised.
How does Michael Chen’s Series B Preferred Stock in Seaport Therapeutics (SPTX) convert to Common Stock?
Each share of Series B Preferred Stock is convertible into Common Stock on a one‑for‑3.1407 basis. The footnote states it will automatically convert into 3,351 Common shares upon the closing of Seaport Therapeutics’ initial public offering, without additional consideration.
What vesting terms apply to Michael Chen’s Seaport Therapeutics (SPTX) stock options?
Footnotes describe time‑based vesting. One option vests 25% on April 9, 2025, with the remaining 75% vesting in 36 equal monthly installments. Another vests 25% on January 26, 2026, and a further grant vests in 48 equal monthly installments after February 24, 2026.