Form 4: Cartesian Therapeutics Director Murat Kalayoglu Reports Conversion of Preferred Stock to Common Stock

Director Murat Kalayoglu reports a transaction involving the conversion of Series A Non-Voting Convertible Preferred Stock into common stock through a trust.

Summary

• On October 11, 2024, Murat Kalayoglu, a director and 10% owner of Cartesian Therapeutics, reported a transaction involving the conversion of Series A Non-Voting Convertible Preferred Stock into common stock.
• The transaction was executed by a trust for the benefit of Kalayoglu's spouse and children.
• The trust converted a portion of its shares of Series A Non-Voting Convertible Preferred Stock into 1,518,373 shares of common stock.
• Following the transaction, the trust beneficially owns 4,555,260 shares of common stock.
• Kalayoglu also directly owns 506,377 shares of common stock.
• The remaining shares of Series A Non-Voting Convertible Preferred Stock held by the trust are subject to a beneficial ownership limitation.
• The reported transaction also relates to the merger that occurred on November 13, 2023, where Cartesian Therapeutics, Inc. acquired a private Delaware corporation.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC for insiders (directors, officers, and 10% owners) of publicly traded companies, providing transparency into their transactions in the company's securities.

Stakeholder Impact

• The conversion of preferred stock to common stock may dilute existing shareholders' equity.

Key Dates