Form 4: Timothy Springer Reports Changes in Beneficial Ownership of Cartesian Therapeutics Stock Following Reverse Stock Split and Preferred Stock Conversion

Timothy Springer, a director and 10% owner of Cartesian Therapeutics, reports changes in beneficial ownership due to a reverse stock split and conversion of Series A Preferred Stock.

Summary

• On April 8, 2024, Timothy Springer reported changes in his beneficial ownership of Cartesian Therapeutics, Inc. (RNAC) stock.
• These changes are due to a 1-for-30 reverse stock split and the automatic conversion of Series A Non-Voting Convertible Preferred Stock into common stock, which were approved by stockholders on March 27, 2024, and effected on April 4, 2024.
• Springer directly holds 4,379,899 shares of common stock after acquiring 4,130,846 shares through the conversion.
• He indirectly holds 1,927,630 shares of common stock through TAS Partners LLC, after acquiring 826,169 shares through the conversion.
• Springer also indirectly holds 3,493 shares of common stock through his wife.
• He also holds a stock option to buy 7,600 shares of common stock at $19.656, vesting monthly until January 1, 2034, and a warrant to buy 167,040 shares of common stock at $46.5, expiring on April 11, 2027, held indirectly through TAS Partners LLC.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in stock ownership due to corporate actions. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Key Dates