SCHEDULE 13G/A: BioAtla Co-founder Jay M. Short Updates Significant Stake, Reports 6.6% Beneficial Ownership

BioAtla, Inc.'s Co-founder, Chairman, and CEO, Jay M. Short, has filed an amended Schedule 13G, disclosing a beneficial ownership of 6.6% of the company's common stock as of December 31, 2024.

Summary

• Jay M. Short, Co-founder, Chairman, and CEO of BioAtla, Inc., beneficially owns 3,865,646 shares of the company's common stock, representing 6.6% of the outstanding shares.
• This ownership includes 2,510,998 shares with sole voting and dispositive power, and 1,354,648 shares with shared voting and dispositive power.
• The sole ownership includes 812,988 shares issuable upon vesting of restricted stock units and exercise of options within 60 days of December 31, 2024.
• Shared ownership primarily includes 1,354,598 shares owned or controlled by Dr. Short's spouse, Carolyn Anderson Short, and related trusts and LLCs, for which Dr. Short disclaims beneficial ownership except for pecuniary interest.
• Himalaya Parent LLC, also a reporting person, beneficially owns 50 shares, representing 0.0% of the class, with shared voting and dispositive power.
• The total number of issued and outstanding shares of BioAtla, Inc. common stock used for calculation is 58,099,164 as of December 31, 2024.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing (Schedule 13G) disclosing beneficial ownership. It contains factual information about shareholdings and does not convey positive or negative sentiment regarding the company's performance or outlook.

Positives

• The filing indicates continued significant ownership by a key executive (Co-founder, Chairman, and CEO), which can align management's interests with shareholders.
• A substantial portion of Dr. Short's beneficial ownership includes shares from restricted stock units and exercisable options, indicating potential future conversion into common stock.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• "Dr. Short is the Co-founder, Chairman and Chief Executive Officer of the Issuer and Ms. Anderson Short is Dr. Short's spouse."
• "Dr. Short disclaims beneficial ownership, except to the extent of his pecuniary interest therein, if any."

Industry Context

This filing is a routine regulatory disclosure of beneficial ownership by an insider and does not provide information related to broader industry trends or competitive landscape. It primarily reflects an individual's and related entities' stake in the company.

Comparison to Industry Standards

• This document is a standard Schedule 13G filing, which is a regulatory requirement for individuals or groups acquiring more than 5% beneficial ownership of a company's stock. The filing itself adheres to SEC standards for disclosure.
• The 6.6% beneficial ownership by a co-founder and CEO is a significant stake, which is common for founders of biotechnology companies like BioAtla, Inc., aligning their interests with the company's long-term success. There are no specific comparable companies or projects mentioned in the document to provide a detailed comparison of results.

Related Party Transactions

• The filing details beneficial ownership of shares by related parties, including 793,547 shares held by Dr. Short's spouse, Carolyn Anderson Short; 258,727 shares held by Jay Short 2020 Irrevocable Gift Trust; 258,727 shares held by Carolyn Short 2020 Irrevocable Gift Trust; and 302,324 shares held by Capia IP, LLC, where Dr. Short's spouse is the managing member. Dr. Short disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders: Provides transparency regarding the significant ownership stake of a key executive, which can influence investor confidence and perception of management alignment.

Key Dates

Keywords

BioAtla, Jay M. Short, Himalaya Parent LLC, Schedule 13G, beneficial ownership, common stock, SEC filing, corporate governance, insider ownership, equity stake