4/A: OmniAb Director Corrects Beneficial Ownership Report After Merger

Jennifer R. Cochran, a director at OmniAb, Inc., files an amended Form 4 to correct the number of shares beneficially held following the business combination with Avista Public Acquisition Corp. II.

Summary

• Jennifer R. Cochran, a director of OmniAb, Inc. (OABI), filed an amended Form 4 with the SEC on April 23, 2024.
• This amendment corrects a previous filing from November 3, 2022, which understated the number of shares beneficially held by Cochran after the business combination of Avista Public Acquisition Corp. II and Legacy OmniAb.
• The corrected filing reports that Cochran beneficially owns 93,378 shares of common stock as of November 1, 2022.
• The initial transaction on November 1, 2022, involved the conversion of Legacy OmniAb securities into OmniAb, Inc. securities according to the Merger Agreement.
• The corrected number includes 12,545 restricted stock units and 11,076 earn-out shares.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing. While it highlights a past error, the correction itself is a positive step towards accurate reporting. The sentiment is neutral to slightly positive.

Negatives

• The initial Form 4 filed on November 3, 2022, contained an error, understating the number of shares beneficially held by the reporting person.

Industry Context

Form 4 filings are standard practice for company insiders (directors, officers, and 10% owners) to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The correction of the filing ensures that shareholders and potential investors have accurate information regarding insider ownership.

Key Dates