Zenas BioPharma (ZBIO) CEO-linked entities purchase 60,000 shares in open market
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Zenas BioPharma, Inc. reported open-market common stock purchases by entities associated with Chief Executive Officer Leon O. Moulder, Jr. On April 28, 2026, an entity purchased 25,000 shares at a weighted average price of $18.02 per share, and on April 29, 2026, an entity purchased 35,000 shares at a weighted average price of $17.62 per share, for total net purchases of 60,000 shares. Following these transactions, indirect holdings reported for these entities totaled 1,786,039 shares of common stock, while direct holdings reported for Moulder stood at 423,155 shares, and a related revocable trust held 36,928 shares. The filing notes these prices are weighted averages for multiple trades within narrow intraday ranges and that Moulder disclaims beneficial ownership of certain indirect holdings except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 60,000 shares ($1,067,200)
Net Buy
4 txns
Insider
MOULDER LEON O JR
Role
Chief Executive Officer
Bought
60,000 shs ($1.07M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 35,000 | $17.62 | $617K |
| Purchase | Common Stock | 25,000 | $18.02 | $451K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,786,039 shares (Indirect, See Footnote);
Common Stock — 423,155 shares (Direct, null)
Footnotes (1)
- The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $17.87 to $18.05, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range. Leon O. Moulder, Jr. is the Managing Member of Tellus BioVentures LLC ("Tellus") and may be deemed to have sole voting and dispositive power over the shares held by Tellus. Mr. Moulder is the Issuer's chief executive officer and Chairman of its board of directors. Mr. Moulder disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $17.56 to $17.67, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range. The reporting person is a Trustee of the Leon O. Moulder, Jr. Revocable Trust U/A dtd 9/9/2008 (the "Trust") and may be deemed to have voting and dispositive power over the shares held by the Trust. The reporting person is the Issuer's chief executive officer and Chairman of its board of directors. The reporting person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
Key Figures
Total shares purchased: 60,000 shares
April 28 purchase: 25,000 shares at $18.02
April 29 purchase: 35,000 shares at $17.62
+3 more
6 metrics
Total shares purchased
60,000 shares
Open-market common stock purchases on April 28–29, 2026
April 28 purchase
25,000 shares at $18.02
Weighted average price per share on April 28, 2026
April 29 purchase
35,000 shares at $17.62
Weighted average price per share on April 29, 2026
Indirect holdings after trades
1,786,039 shares
Indirect common stock position following transactions
Direct holdings
423,155 shares
Direct common stock held as of April 28, 2026
Revocable trust holdings
36,928 shares
Shares held by Leon O. Moulder, Jr. Revocable Trust
Key Terms
open-market purchase, weighted average price, disclaims beneficial ownership, pecuniary interest, +2 more
6 terms
open-market purchase financial
"transaction_action is described as "open-market purchase" for the common stock transactions"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
weighted average price financial
"The price reported is a weighted average price. These shares were purchased in multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
disclaims beneficial ownership financial
"Mr. Moulder disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein"
pecuniary interest financial
"disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein"
Revocable Trust financial
"Trustee of the Leon O. Moulder, Jr. Revocable Trust U/A dtd 9/9/2008"
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.
voting and dispositive power financial
"may be deemed to have voting and dispositive power over the shares held by the Trust"
FAQ
What insider transactions did Zenas BioPharma (ZBIO) report in this Form 4?
Entities associated with Zenas BioPharma CEO Leon O. Moulder, Jr. purchased 60,000 common shares in open-market transactions. The trades occurred on April 28 and 29, 2026 at weighted average prices around $18 per share, increasing reported indirect holdings.
Were the Zenas BioPharma (ZBIO) insider purchases made directly by the CEO?
The Form 4 attributes the 60,000-share open-market purchases to entities such as Tellus BioVentures LLC and a revocable trust associated with Leon O. Moulder, Jr. The filing notes he may be deemed to have voting and dispositive power but disclaims beneficial ownership beyond his pecuniary interest.
What does the weighted average price disclosure mean in the Zenas BioPharma (ZBIO) Form 4?
The filing states each reported price is a weighted average of multiple trades within specified ranges, such as $17.87–$18.05 and $17.56–$17.67. The reporting person undertakes to provide detailed trade-by-trade pricing information upon request to shareholders or regulators.