Form 4: CervoMed Director Joshua Boger Exercises Pre-Funded Warrant, Acquires Shares

Director Joshua Boger exercised a pre-funded common stock purchase warrant to acquire shares of CervoMed Inc. common stock.

Summary

• On February 26, 2024, Joshua Boger, a director and 10% owner of CervoMed Inc., exercised a pre-funded common stock purchase warrant.
• The warrant allowed him to purchase 495,995 shares of CervoMed's common stock.
• The pre-funded warrant was amended and subsequently exercised in full on a cashless basis.
• 36 shares were withheld in lieu of a cash payment of the exercise price.
• The JSB 2021 Trust was issued the remaining 495,959 shares of CervoMed's common stock.
• After the transaction, Boger beneficially owns 216,817 shares directly and 840,451 shares indirectly through trusts.
• The indirect ownership consists of 644,703 shares held by The Joshua S. Boger 2021 Trust and 195,748 shares held by The Amy S. Boger 2021 Trust.
• Boger serves as the sole trustee of both trusts and disclaims beneficial ownership of these securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard transaction. The exercise of warrants can be seen as a positive sign of confidence, but it's also a pre-arranged event.

Positives

• The exercise of the warrant demonstrates Boger's continued investment in CervoMed.

Management Comments

• The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

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

Key Dates