Form 4: Timothy Springer Reports Conversion of Preferred Stock to Common Stock in Cartesian Therapeutics

Director and 10% owner Timothy Springer reports the conversion of Series B Preferred Stock to Common Stock in Cartesian Therapeutics.

Summary

• On September 25, 2024, Timothy A. Springer, a director and 10% owner of Cartesian Therapeutics, Inc., reported changes in beneficial ownership of the company's securities.
• The changes are due to the automatic conversion of Series B Non-Voting Convertible Preferred Stock into common stock, which was approved by stockholders at a special meeting on September 20, 2024.
• Springer directly converted 1,636,832 shares of Series B Preferred Stock into common stock, increasing his direct holdings of common stock by the same amount to a total of 6,016,731 shares.
• Additionally, 721,361 shares of Series B Preferred Stock held by TAS Partners LLC, where Springer is the managing member, were converted into common stock, increasing TAS Partners LLC's holdings of common stock by the same amount to 2,648,991 shares.
• 1,307 shares of Series B Preferred Stock beneficially owned by Springer's wife were converted into 12,816 shares of common stock.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing detailing a conversion of stock, which is neither particularly positive nor negative. The conversion simplifies the capital structure.

Positives

• The conversion of preferred stock to common stock simplifies the company's capital structure.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders.

Stakeholder Impact

• The conversion of preferred stock to common stock may impact the ownership structure and voting rights of shareholders.

Key Dates