Form 4: SmartKem Director Klaas de Boer Converts Preferred Stock to Common Stock

Director Klaas de Boer converted Series A-2 Convertible Preferred Stock into 5,715 shares of SmartKem, Inc. common stock on May 30, 2024.

Summary

• On May 30, 2024, Klaas de Boer, a director of SmartKem, Inc., converted 50 shares of Series A-2 Convertible Preferred Stock into 5,715 shares of common stock.
• The conversion occurred automatically at a price of $8.75 per share.
• Following the transaction, de Boer directly owns 100 shares of common stock and indirectly owns 11,430 shares through his spouse.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a stock conversion, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders, such as directors and officers, trade in their company's stock. This filing indicates a conversion of preferred stock to common stock, which can be a routine event.

Stakeholder Impact

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

Key Dates

Keywords

SmartKem, Klaas de Boer, Form 4, Beneficial Ownership, Convertible Preferred Stock, Common Stock, Director, SMTK