Seaport Therapeutics director reports IPO conversion, option grant
Seaport Therapeutics director Denice Torres reported equity-related changes tied to the company’s initial public offering and board compensation.
Rhea-AI Filing Summary
Seaport Therapeutics director Denice Torres reported equity-related changes tied to the company’s initial public offering and board compensation. A revocable trust associated with her converted 42,105 shares of Series B Preferred Stock into 13,406 shares of Common Stock on a one-for-one basis upon the IPO closing on May 4, 2026, with no additional consideration.
Separately, she received a stock option grant for 12,258 shares of Common Stock at an exercise price of $18.00 per share. This option expires on April 29, 2036 and will vest in full on April 30, 2027, subject to her continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
42,105 shares exercised/converted
Exercise
3 txns
Insider
Torres Denice
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series B Preferred Stock | 42,105 | $0.00 | $0.00 |
| Conversion | Common Stock | 13,406 | $0.00 | $0.00 |
| Grant/Award | Stock Option (Right to Buy) | 12,258 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) — 12,258 contracts (Direct);
Series B Preferred Stock — 0 contracts (Indirect, By Denice M. Torres Revocable Trust);
Common Stock — 13,406 shares (Indirect, By Denice M. Torres Revocable Trust)
Footnotes (3)
- F1. Each share of Series B Preferred Stock (the "Preferred Stock") was convertible into Common Stock of the Issuer on a one-for-one basis at the option of the holder, and automatically converted upon the closing of the Issuer's initial public offering on May 4, 2026 without payment of further consideration. The Preferred Stock had no expiration date.
- F2. 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.
- F3. The shares underlying this option shall vest in full on April 30, 2027, subject to the Reporting Person's continued service on such vesting date.
Key Figures
Common shares after conversion: 13,406 shares
Series B Preferred converted: 42,105 shares
Stock option grant size: 12,258 options
+3 more
6 metrics
Common shares after conversion
13,406 shares
Indirectly held by revocable trust after May 4, 2026 conversion
Series B Preferred converted
42,105 shares
Automatically converted into Common Stock upon IPO closing on May 4, 2026
Stock option grant size
12,258 options
Option to buy Common Stock granted on April 30, 2026
Option exercise price
$18.00 per share
Strike price for 12,258-share stock option award
Option expiration
April 29, 2036
Expiration date of granted stock option
Option vesting date
April 30, 2027
Full vesting date, subject to continued service
Key Terms
Series B Preferred Stock, initial public offering, stock option, Revocable Trust, +1 more
5 terms
Series B Preferred Stock financial
"Each share of Series B Preferred Stock was convertible into Common Stock on a one-for-one basis"
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.
initial public offering financial
"automatically converted upon the closing of the Issuer's initial public offering on May 4, 2026"
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.
stock option financial
"The shares underlying this option shall vest in full on April 30, 2027"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
Revocable Trust financial
"nature_of_ownership: By Denice M. Torres Revocable Trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of such shares for purposes of Section 16"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Seaport Therapeutics (SPTX) director Denice Torres report?
Denice Torres reported a conversion of Series B Preferred Stock into Common Stock and a new stock option grant. A revocable trust associated with her converted preferred shares into 13,406 Common shares, and she received an option for 12,258 Common shares as board compensation.
What are the terms of Denice Torres’s new Seaport Therapeutics (SPTX) stock option grant?
Denice Torres received a stock option covering 12,258 shares of Seaport Therapeutics Common Stock with an exercise price of $18.00 per share. The option expires on April 29, 2036 and will vest in full on April 30, 2027, contingent on her continued service.
Was the Seaport Therapeutics (SPTX) preferred stock conversion tied to the IPO?
Yes. Each share of Seaport Therapeutics Series B Preferred Stock was convertible into Common Stock and automatically converted upon closing of the company’s initial public offering on May 4, 2026, on a one-for-one basis, with no additional consideration paid by the holder for the conversion.
When will the new Seaport Therapeutics (SPTX) stock option for Denice Torres vest?
The stock option granted to Denice Torres for 12,258 shares of Seaport Therapeutics Common Stock will vest in full on April 30, 2027. Vesting is conditioned on her continued service through that date, as specified in the filing’s footnote describing the award’s vesting terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
