Form 4: Michael Singer Reports Conversion of Series A Preferred Stock and Reverse Stock Split Impact at Cartesian Therapeutics

Director Michael Singer reports the conversion of Series A Preferred Stock into common stock and the impact of a 1-for-30 reverse stock split at Cartesian Therapeutics.

Summary

• Michael Singer, a director at Cartesian Therapeutics, filed a Form 4 detailing changes in beneficial ownership.
• The filing reflects the conversion of Series A Non-Voting Convertible Preferred Stock into common stock following stockholder approval at a special meeting on March 27, 2024.
• The conversion occurred automatically on April 8, 2024.
• A 1-for-30 reverse stock split, also approved at the special meeting and effective April 4, 2024, is reflected in the adjusted share amounts.
• Singer's holdings include direct and indirect ownership through trusts, spousal holdings, and custodial accounts for children.
• Singer directly owns 119,754 shares of common stock.
• Singer indirectly owns 383,796 shares via trust, 56,719 shares via trust, 7,127 shares via trust, 14,788 shares via spouse, 96,219 shares as custodian, and 96,219 shares as custodian.
• Singer also holds options to purchase 7,600 shares of common stock, vesting monthly until January 1, 2034.

Sentiment

Score: 5

Explanation: This is a neutral filing reflecting standard corporate actions (reverse stock split and preferred stock conversion). It doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track changes in ownership and potential alignment of interests.

Stakeholder Impact

• The reverse stock split reduces the number of outstanding shares, potentially impacting share price and trading liquidity.
• The conversion of preferred stock simplifies the capital structure of the company.

Key Dates