CFO of Seaport Therapeutics (SPTX) details option and preferred stakes in Form 3
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Seaport Therapeutics, Inc. executive Lauren White, the Chief Financial Officer, has filed an initial ownership report that lists her existing equity interests in the company rather than new trades. The filing shows multiple stock option awards and a preferred stock position that can convert into common shares.
White holds stock options directly over 63,680 shares of common stock at an exercise price of $10.31 per share and additional options over 8,331 and 429,840 shares at an exercise price of $7.39 per share, each with long-dated expirations in 2034 and 2036. Vesting schedules extend over several years, with some options already fully vested and others vesting in monthly installments tied to her continued service.
Indirectly, through the Lauren Anne White Living Trust, she has 6,702 shares of Series B Preferred Stock, each convertible into common stock on a one-for-3.1407 basis and automatically convertible into the number of common shares shown upon the closing of the company’s initial public offering, without additional payment. She disclaims beneficial ownership of these preferred shares beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
White Lauren
Role
Chief Financial 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) | -- | -- | -- |
Holdings After Transaction:
Series B Preferred Stock — 6,702 shares (Indirect, By Lauren Anne White Living Trust, dated January 30, 2020);
Stock Option (Right to Buy) — 429,840 shares (Direct, null)
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. The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 of the Exchange Act, except to the extent of her pecuniary interest therein, if any. This report shall not be deemed an admission that she is a beneficial owner of such shares for the purpose of Section 16 of the Exchange Act, or for any other purpose. 1/4th of the shares underlying this option vested and became exercisable on November 7, 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. 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 strike price: $10.31/share
Underlying shares at $10.31: 63,680 shares
Option strike price: $7.39/share
+5 more
8 metrics
Option strike price
$10.31/share
Stock Option over 63,680 underlying common shares
Underlying shares at $10.31
63,680 shares
Common Stock underlying a direct stock option
Option strike price
$7.39/share
Stock Options over 8,331 and 429,840 underlying shares
Underlying shares at $7.39
429,840 shares
Largest reported stock option block, direct holding
Series B Preferred shares
6,702 shares
Indirectly held via Lauren Anne White Living Trust
Preferred conversion ratio
1 : 3.1407
Each Series B Preferred share into common stock
Option expiration
2034-12-28
Expiration date for $7.39 stock options
Option expiration
2036-02-23
Expiration date for $10.31 stock options
Key Terms
Stock Option (Right to Buy), Series B Preferred Stock, Section 16 of the Exchange Act, vested and exercisable, +1 more
5 terms
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy) with underlying 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.
Section 16 of the Exchange Act regulatory
"The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16 of the Exchange Act"
vested and exercisable financial
"The shares underlying this option are fully vested and exercisable."
monthly installments financial
"shares vesting in thirty-six (36) equal monthly installments thereafter"
Monthly installments are regular, fixed payments made each month to gradually pay off a larger amount, such as a loan or purchase. Think of it like paying for a big item in small, manageable parts instead of all at once. For investors, understanding installment payments helps gauge how debts are structured and how they might affect financial stability or cash flow over time.
FAQ
What does Lauren White’s Form 3 for Seaport Therapeutics (SPTX) show?
The Form 3 shows existing holdings, not new trades, for CFO Lauren White. It lists several stock option awards over hundreds of thousands of common shares and a Series B Preferred Stock position held through a trust that can convert into common stock.
How many Seaport Therapeutics (SPTX) options does Lauren White report holding?
Lauren White reports stock options linked to 63,680 common shares at $10.31 per share and to 8,331 and 429,840 common shares at $7.39 per share. These options represent significant potential equity exposure, subject to vesting and exercise conditions.
What are the key vesting terms of Lauren White’s Seaport Therapeutics options?
One option grant vested 25% on November 7, 2025, with the remaining shares vesting in 36 equal monthly installments, contingent on continued service. Another grant vests in 48 equal monthly installments starting February 24, 2026. A separate option block is already fully vested and exercisable.
What is the conversion feature of Seaport Therapeutics’ Series B Preferred Stock reported by Lauren White?
Each share of Series B Preferred Stock is convertible into common stock on a one-for-3.1407 basis. Upon the closing of Seaport Therapeutics’ initial public offering, these preferred shares automatically convert into the number of common shares shown, without additional consideration from the holder.
How does Lauren White hold Seaport Therapeutics Series B Preferred Stock?
The 6,702 shares of Series B Preferred Stock are held indirectly through the Lauren Anne White Living Trust. Lauren White disclaims beneficial ownership for Section 16 purposes, except for any pecuniary interest, meaning economic benefits she may ultimately receive from these shares.
Are there any buy or sell transactions for Seaport Therapeutics (SPTX) in this Form 3?
This Form 3 does not report buy or sell transactions. It is an initial ownership filing that lists Lauren White’s existing stock options and preferred stock interests, including vesting schedules and conversion terms, rather than recording new market trades or option exercises.