Form 4: Randal J. Kirk Reports Changes in Beneficial Ownership of Precigen, Inc. Shares Following LLC Liquidations

Randal J. Kirk, a director and 10% owner of Precigen, Inc., reported changes in beneficial ownership due to liquidating distributions and intercompany debt satisfaction within Third Security LLC entities.

Summary

• On May 3, 2024, Randal J. Kirk filed a Form 4 detailing changes in his beneficial ownership of Precigen, Inc. (PGEN) shares.
• The changes stem from liquidating distributions of assets by several Third Security LLC entities, including Senior Staff LLCs, Staff LLCs, and Incentive LLCs.
• These liquidations resulted in the distribution of an aggregate of 19,447,371 shares of Precigen.
• Additionally, certain Staff LLCs transferred 8,479,387 shares to Third Security Staff 2001 LLC to satisfy intercompany debt.
• Kirk, through various entities he controls (R.J. Kirk DOT, Third Security, and others), received shares as members of these liquidated entities.
• Following these transactions, Kirk's indirect beneficial ownership includes shares held by R.J. Kirk DOT (41,017,803 shares), Third Security (6,085,471 shares), and numerous other LLCs and trusts.
• Kirk disclaims beneficial ownership of these shares except to the extent of any pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in ownership. It doesn't inherently convey positive or negative sentiment, but rather reports factual transactions.

Industry Context

This filing reflects internal restructuring within a major shareholder's investment vehicles, which is a common occurrence but can sometimes signal shifts in long-term investment strategy or corporate governance.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders, as they reflect the internal restructuring of a major shareholder's holdings.
• However, since Mr. Kirk disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein, the impact on stakeholders is likely minimal.

Key Dates