Form 4: Cartesian Therapeutics Insider Elizabeth Hoge Converts Preferred Stock to Common Stock
SEC Form 4
Elizabeth Hoge, a director and 10% owner of Cartesian Therapeutics, converted a portion of Series A Non-Voting Convertible Preferred Stock into common stock on October 11, 2024.
Summary
- On October 11, 2024, Elizabeth Hoge, a director and 10% owner of Cartesian Therapeutics, engaged in a transaction involving the conversion of Series A Non-Voting Convertible Preferred Stock into common stock.
- The Seven One Eight Three Four Irrevocable Trust (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 continues to hold 4,555,260 shares of common stock indirectly as trustee and 506,377 shares indirectly by spouse.
- The reporting person is a trustee of the Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction, which is neutral in sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into insider transactions, allowing investors to track the actions of company executives and major shareholders.
Stakeholder Impact
- The conversion of preferred stock to common stock may have a slight dilutive effect on existing common shareholders.
Key Dates
| Date | Description |
|---|---|
| November 13, 2023 | Cartesian Therapeutics, Inc. acquired the private Delaware corporation which was then known as Cartesian Therapeutics, Inc. in accordance with the terms of an Agreement and Plan of Merger. |
| October 11, 2024 | Seven One Eight Three Four Irrevocable Trust elected to convert a portion of its shares of the issuer's Series A Non-Voting Convertible Preferred Stock into shares of the issuer's common stock. |
| October 15, 2024 | Date of signature for the Form 4 filing. |
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