Form 4: Outset Medical CEO Leslie Trigg Reports Conversion of Preferred Stock to Common Stock

Leslie Trigg, Chair and CEO of Outset Medical, reports the conversion of Series A Non-Voting Convertible Preferred Stock into Common Stock following stockholder approval on March 5, 2025.

Summary

• On March 10, 2025, Leslie Trigg converted 2,500 shares of Series A Non-Voting Convertible Preferred Stock into 625,000 shares of Common Stock.
• This conversion occurred after Outset Medical's stockholders approved the conversion at a meeting held on March 5, 2025.
• Following the transaction, Trigg directly owns 880,969 shares of Common Stock and indirectly owns 8,770 shares through the Trigg Family Trust.
• Trigg also indirectly owns no shares of Series A Non-Voting Convertible Preferred Stock through the Trigg 2002 Rev Trust.

Sentiment

Score: 7

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

Positives

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

Industry Context

This filing is a routine disclosure related to insider transactions and changes in beneficial ownership, common in the healthcare and medical device industry.

Stakeholder Impact

• The conversion of preferred stock to common stock may have a slight dilutive effect on existing common shareholders.

Key Dates