Seaport Therapeutics (SPTX) CSO granted 63,680 stock options in Form 4
Rhea-AI Filing Summary
Seaport Therapeutics Chief Scientific Officer Michael Cunyuan Chen reported equity-related acquisitions. On May 4, 2026, he acquired 3,351 shares of Common Stock through the conversion of 10,526 shares of Series B Preferred Stock, which automatically converted in connection with the company’s initial public offering on a one-for-3.1407 basis.
After this conversion, he directly held 3,351 common shares. Separately, on April 30, 2026, he received a grant of stock options for 63,680 shares of Common Stock at an exercise price of $18.00 per share, expiring on April 29, 2036. These options vest in 48 equal monthly installments following April 30, 2026, subject to his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 3,351 shares
Net Buy
3 txns
Insider
Chen Michael Cunyuan
Role
Chief Scientific Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series B Preferred Stock | 10,526 | $0.00 | $0.00 |
| Conversion | Common Stock | 3,351 | $0.00 | $0.00 |
| Grant/Award | Stock Option (Right to Buy) | 63,680 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) — 63,680 shares (Direct);
Series B Preferred Stock — 0 shares (Direct);
Common Stock — 3,351 shares (Direct)
Footnotes (2)
- F1. Each share of Series B Preferred Stock (the "Preferred Stock") was convertible into Common Stock of the Issuer on a one-for-3.1407 basis at the option of the holder, and automatically converted upon the closing of the Issuer's initial public offering without payment of further consideration. The Preferred Stock had no expiration date.
- F2. The shares underlying this option shall vest in forty-eight (48) equal monthly installments following April 30, 2026, subject to the Reporting Person's continued service on each such vesting date.
Key Figures
Common shares acquired: 3,351 shares
Preferred shares converted: 10,526 shares
Option grant size: 63,680 options
+4 more
7 metrics
Common shares acquired
3,351 shares
Common Stock held directly after May 4, 2026 conversion
Preferred shares converted
10,526 shares
Series B Preferred Stock converted into Common Stock on May 4, 2026
Option grant size
63,680 options
Stock Option (Right to Buy) granted on April 30, 2026
Option exercise price
$18.00 per share
Conversion or exercise price for 63,680 stock options
Option expiration
April 29, 2036
Expiration date of the 63,680-share stock option grant
Vesting schedule
48 monthly installments
Option vesting following April 30, 2026, subject to continued service
Conversion ratio
1 for 3.1407
Series B Preferred Stock to Common Stock conversion basis
Key Terms
Conversion of derivative security, Series B Preferred Stock, Stock Option (Right to Buy), initial public offering, +1 more
5 terms
Conversion of derivative security financial
"transaction_code_description: Conversion of derivative security"
Series B Preferred Stock financial
"security_title: Series B Preferred 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.
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy)"
initial public offering financial
"automatically converted 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.
vest in forty-eight (48) equal monthly installments financial
"The shares underlying this option shall vest in forty-eight (48) equal monthly installments"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Seaport Therapeutics (SPTX) report about Michael Chen’s Form 4 transactions?
Michael Chen reported acquiring common shares and receiving stock options. He converted 10,526 Series B Preferred shares into 3,351 Common shares and received a grant of 63,680 stock options, reflecting compensation and IPO-related equity changes.
What are the key terms of Michael Chen’s Seaport Therapeutics (SPTX) stock option grant?
Michael Chen was granted options over 63,680 Seaport Therapeutics shares. The options have an exercise price of $18.00 per share, expire on April 29, 2036, and vest in 48 equal monthly installments following April 30, 2026, subject to continued service.
How was Seaport Therapeutics (SPTX) Series B Preferred Stock converted in Michael Chen’s Form 4?
Series B Preferred Stock converted automatically into Common Stock. Each share of Series B Preferred Stock converted into Common Stock on a one-for-3.1407 basis upon the closing of Seaport Therapeutics’ initial public offering, without further consideration.