Form 4: Eikon Therapeutics CEO Converts Preferred Stock to Common

Eikon Therapeutics CEO Roger M Perlmutter converted preferred stock holdings into common stock ahead of the company's initial public offering.

Summary

• Roger M Perlmutter, CEO and Director of Eikon Therapeutics, Inc., reported a transaction involving the conversion of preferred stock into common stock.
• On February 6, 2026, 1,268,891 shares of Series A-1 Preferred Stock were converted into 170,143 shares of Common Stock.
• Concurrently, 855,512 shares of Series D Preferred Stock were converted into 114,714 shares of Common Stock.
• The conversions occurred immediately prior to the closing of the Issuer's initial public offering (IPO) at a 1-for-7.4578 basis.
• Following these transactions, Mr. Perlmutter beneficially owns 284,857 shares of Common Stock indirectly through Perlmutter Consulting, Inc., where he holds the sole pecuniary interest.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as it signifies progress towards an IPO, which is generally a growth-oriented milestone for a company, though the filing itself is purely transactional.

Positives

• The conversion of preferred stock to common stock is a standard step often taken by insiders prior to a company's initial public offering, indicating progress towards a public listing.
• The transaction consolidates the CEO's equity interest into common shares, aligning his holdings with public shareholders.

Future Outlook

The filing indicates that the conversions occurred immediately prior to the closing of the Issuer's initial public offering (IPO), suggesting that Eikon Therapeutics, Inc. is either imminently going public or has recently completed its IPO.

Management Comments

• Roger M Perlmutter, in his capacity as Chief Executive Officer and Director, executed the conversion of his preferred stock holdings.

Industry Context

StockSavvy.ai notes that the conversion of preferred stock into common stock by a CEO is a typical and expected event in the lead-up to or concurrent with an initial public offering (IPO) for a biotechnology or pharmaceutical company. This action streamlines the capital structure and prepares the company for public trading.

Comparison to Industry Standards

• This type of preferred stock conversion is a standard corporate finance practice for private companies transitioning to public ownership, aligning with actions seen in numerous pre-IPO biotech firms.
• The conversion ratio of 1-for-7.4578 is specific to Eikon Therapeutics' capital structure and is not directly comparable to other companies without detailed knowledge of their respective preferred stock terms.

Related Party Transactions

• The securities are held indirectly by the Reporting Person through Perlmutter Consulting, Inc. for the benefit of the Reporting Person, indicating a related party holding structure.

Stakeholder Impact

• Shareholders: The conversion increases the number of common shares outstanding, which will be relevant for future per-share metrics post-IPO.
• Investors: Provides transparency into the CEO's equity holdings and the company's pre-IPO capital structure.

Next Steps

• The company's initial public offering (IPO) is either imminent or has recently closed, as indicated by the timing of the preferred stock conversions.

Key Dates

Keywords

Eikon Therapeutics, EIKN, Roger M Perlmutter, Insider Transaction, Form 4, Preferred Stock Conversion, Common Stock, IPO, Equity