Salva Francisco D. 4
4 · Azitra, Inc. · Filed Mar 20, 2026
Research Summary
AI-generated summary of this filing
Azitra (AZTR) CEO Salva Acquires Preferred Shares
What Happened
Salva Francisco D., President & CEO and a director of Azitra, reported purchasing 500 shares of Series A Preferred Stock on March 18, 2026. Each Series A preferred share converts into 8,128.1 shares of common stock (subject to approvals and an amendment to the charter), so the filing also shows derivative reporting of 4,064,050 common shares (two identical derivative entries appear in the filing). The reported purchase price is N/A in the filing.
Key Details
- Transaction date: 2026-03-18; Form 4 filed: 2026-03-20 (appears within the standard two-business-day reporting window).
- Securities acquired: 500 shares of Series A Preferred Stock (stated value $1,000.00 per share). Filing also lists two derivative entries of 4,064,050 shares of Common Stock (500 × 8,128.1).
- Price: N/A (not disclosed in the filing).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Relevant footnotes:
- F1: Series A preferred converts into 8,128.1 common shares per preferred, conversion effective only after shareholder approvals and a charter amendment; Series A has no expiration date.
- F2/F3: The filing also notes Series B and C warrants are exercisable only upon stockholder approval and have defined termination windows (Series B: 18 months after approval; Series C: generally 30 days after certain public data announcements).
- Filing timeliness: No late-report flag shown; Form 4 was filed two days after the transaction date.
Context
This transaction is a purchase of convertible preferred stock, which is reported as both the preferred security and its potential common-stock equivalent (derivative). Conversion into common shares is subject to shareholder approvals and procedural conditions, so the common-share equivalent may not be immediately issued. Purchases by company insiders can be interpreted by investors as a positive signal, but the conversion conditions and lack of disclosed price mean this report alone does not establish immediate common-share ownership or the economic cost.
Insider Transaction Report
- Purchase
Series A Convertible Non-Redeemable Preferred Stock
[F1]2026-03-18+500→ 500 totalExercise: $0.12→ Common Stock (4,064,050 underlying) - Purchase
Series B Warrants
[F1][F2]2026-03-18+4,064,050→ 4,064,050 totalExercise: $0.12→ Common Stock (4,064,050 underlying) - Purchase
Series C Warrants
[F3]2026-03-18+4,064,050→ 4,064,050 totalExercise: $0.12→ Common Stock (4,064,050 underlying)
Footnotes (3)
- [F1]The Series A Preferred Stock has stated value of $1,000.00 per share. Each share of Series A Preferred Stock automatically converts into 8,128.1 shares of Common Stock, subject to adjustment from time to time in accordance with its Certificate of Designations, Preferences, as of 5:00 p.m. Eastern time on the 1st business day after the date that the Issuer's stockholders have approved each of (A) an increase in the number of authorized shares of the Issuer's Common Stock to enable the Issuer to issue all of the shares of Common Stock that are issuable upon the conversion of the Series A Preferred Stock and (B) the conversion of the Series A Preferred Stock into Common Stock in accordance with the listing rules of the applicable trading market, and subject to the Issuer filing an amendment to the Certificate of Incorporation with the Secretary of State of the State of Delaware evidencing such stockholder approval. The Series A Preferred Stock has no expiration date.
- [F2]The Series B Warrants are exercisable upon stockholder approval and will terminate 18 months following the date of stockholder approval.
- [F3]The Series C Warrants are exercisable upon stockholder approval and will terminate, subject to certain exceptions, upon the 30th calendar day following the date on which Azitra, Inc. publicly announces data from its planned human cosmetic study testing the effect of the filaggrin technology.