Duvall Diantha 4

What Happened
Diantha Duvall, Chief Financial Officer of Curis, Inc. (CRIS), acquired 66,666 common shares on March 20, 2026 through an automatic conversion of Series B Convertible Non‑Redeemable Preferred Stock into common stock (conversion recorded as a derivative conversion). The conversion was for no additional consideration (price = N/A). The same filing also reports a separate line showing disposition of 50 derivative securities on the same date. The underlying Securities were originally purchased at $1,000 per Security (see footnote).

Key Details

• Transaction date: March 20, 2026 (reported on Form 4 filed March 23, 2026). Filing appears timely (filed within the SEC’s two business‑day window).
• Acquired: 66,666 common shares via conversion (price: N/A — automatic conversion).
• Disposed: 50 derivative securities (reported as a separate derivative conversion/disposition line).
• Footnote: Each share of Series B Preferred automatically converted into 1,333.33 shares of common stock at 5:00 p.m. ET on March 20, 2026; each Series B Preferred was sold together with Series A, B and C warrants (collectively a “Security”); Securities were purchased at $1,000 per Security. Beneficial ownership limits in the Certificate of Designations apply.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.

Context

• This was an automatic conversion of preferred stock into common stock (a non‑cash corporate action), not an open‑market purchase or sale. Such conversions reflect capital structure changes rather than a direct insider buy/sell signal.
• The filing’s separate derivative disposition line may reflect cancellation/adjustment of derivative instruments tied to the conversion; the Form 4 lists it as a derivative transaction.
• For retail investors, purchases (cash buys) tend to be more informative about insider sentiment than automatic conversions; treat this as a structural change in holdings rather than an active trade.