Form 4: Lipella Pharmaceuticals Insider Filing: Jonathan Kaufman Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Jonathan Kaufman, a director, 10% owner, and officer of Lipella Pharmaceuticals, reported changes in beneficial ownership related to convertible preferred stock and warrants following the effectiveness of a registration statement.
Summary
- Jonathan Kaufman, a director, 10% owner, and officer of Lipella Pharmaceuticals, filed a Form 4 detailing changes in beneficial ownership.
- The changes relate to Series C Voting Convertible Preferred Stock and Common Stock Purchase Warrants.
- These securities were previously subject to an irrevocable proxy and power of attorney, granting Kaufman voting power over securities held by Spartan Capital Securities, LLC and its affiliates.
- The voting power terminated on April 3, 2025, upon the effectiveness of a registration statement registering the Warrant Shares and Conversion Shares.
- Kaufman's indirect ownership includes 536,959 shares underlying the Series C Voting Convertible Preferred Stock, as well as warrants for 125,833, 28,924, and 4,060 shares of common stock.
- The warrants have exercise prices of $1 and expire on various dates in 2030.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing. It doesn't inherently indicate positive or negative sentiment, but rather reports required changes in ownership.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Key Dates
| Date | Description |
|---|---|
| 12/20/2024 | Effective date of the irrevocable proxy and power of attorney between the reporting person and Spartan Capital Securities, LLC. |
| 02/28/2025 | Expiration date of some Common Stock Purchase Warrants. |
| 03/10/2025 | Expiration date of some Common Stock Purchase Warrants. |
| 03/13/2025 | Expiration date of some Common Stock Purchase Warrants. |
| 03/17/2025 | Form 4 filed by the reporting person with the U.S. Securities and Exchange Commission. |
| 04/03/2025 | Date of earliest transaction and termination of voting power granted to the reporting person over the Securities by Spartan and such Affiliates. |
| 04/07/2025 | Date of signature of the Form 4. |
| 02/28/2030 | Expiration date of some Common Stock Purchase Warrants. |
| 03/10/2030 | Expiration date of some Common Stock Purchase Warrants. |
| 03/13/2030 | Expiration date of some Common Stock Purchase Warrants. |
Keywords
Form 4, Beneficial Ownership, LIPO, Lipella Pharmaceuticals, Jonathan Kaufman, Convertible Preferred Stock, Warrants, Proxy, Spartan Capital Securities
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