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Sources & coverage
These are available SEC Form 4 purchase and sale records. The view excludes awards, gifts, option exercises and other transaction types. Large shareholders can include investment firms as well as individuals.
The period follows filing dates. Each row also shows when the transaction occurred. Reported value is shares multiplied by the reported price; a missing or zero imported price is shown as unavailable.
Weekly highlights cover the last seven filing dates and count distinct reporting-owner names. They feature the largest purchase and sale totals among companies with complete amounts in the available records, independently of the filters below.
Coverage is partial. Expand a transaction for the reporting owners, ownership, trading-plan disclosure and footnotes available in that record. Older records may only identify the first reporting owner. Missing context is shown as unavailable; the original filing remains the source.
Role filters use reported officer titles and ownership relationships, so one filing can match more than one role. A purchase transaction code does not establish that a trade took place on the open market.
Position & filing details for KINDER RICHARD D, KMI, filed Nov 6, 2026
Added 0.20% to reported shares246,212,353 before → 246,712,353 after
Change in this reported direct Class P Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
KINDER RICHARD D · Executive Chairman · Director · 10% owner
Filing facts
Security
Class P Common Stock
Ownership
Direct
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $29.92 to $29.99 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares purchased at each separate price.
Position & filing details for Saba Capital Management, L.P., JOF, filed Nov 6, 2026
Added 1% to reported shares2,808,632 before → 2,836,840 after
Change in this reported indirect Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Saba Capital Management, L.P. · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · _
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The securities reported herein are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. Mr. Boaz R. Weinstein serves as the managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.
Position & filing details for Saba Capital Management, L.P., GRX, filed Nov 6, 2026
Added 0.41% to reported shares2,186,822 before → 2,195,738 after
Change in this reported indirect Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Saba Capital Management, L.P. · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · _
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The securities reported herein are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. Mr. Boaz R. Weinstein serves as the managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.
Position & filing details for Saba Capital Management, L.P., DSM, filed Nov 6, 2026
Added 0.002% to reported shares5,472,376 before → 5,472,476 after
Change in this reported indirect Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Saba Capital Management, L.P. · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · _
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The securities reported herein are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. Mr. Boaz R. Weinstein serves as the managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.
Position & filing details for Saba Capital Management, L.P., MXF, filed Nov 6, 2026
Added 0.97% to reported shares2,493,840 before → 2,517,955 after
Change in this reported indirect Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Saba Capital Management, L.P. · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · _
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The securities reported herein are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. Mr. Boaz R. Weinstein serves as the managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.
Position & filing details for Saba Capital Management, L.P., ECF, filed Nov 6, 2026
Added 0.43% to reported shares1,814,063 before → 1,821,810 after
Change in this reported indirect Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Saba Capital Management, L.P. · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · _
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The securities reported herein are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. Mr. Boaz R. Weinstein serves as the managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.
Position & filing details for Adler Bo Niclas, VISM, filed Nov 6, 2026
Added 24% to reported shares500,000,000 before → 620,000,000 after
Change in this reported indirect Common Stock, par value $0.0001 position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Adler Bo Niclas · 10% owner
Filing facts
Security
Common Stock, par value $0.0001
Ownership
Indirect · By PT Smart Green Technologies
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 Held directly by PT Smart Green Technologies, a perseroan terbatas organized in the Republic of Indonesia, of which the reporting person is a commissioner and the ultimate beneficial owner. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest. Remarks: Filed late. Purchase under Private Placement Memorandum No. 3 (subscription agreement dated July 9, 2026). The three shares of Series AA Convertible Preferred Stock reported on the reporting person's Form 3 are not the subject of this report; the reporting person disputes that the Series AA was validly designated or issued. Exhibit 24 previously filed with the Form 4 filed July 2, 2026, Acc. No. 0001493152-26-031680.
Position & filing details for Pale Fire Capital SE, COUR, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
Pale Fire Capital SE · 10% owner
Pale Fire Capital SICAV a.s. · 10% owner
Pale Fire Capital investicni spolecnost a.s. · 10% owner
Senkypl Dusan · 10% owner
Barta Jan · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock, $0.00001 par value per share
Ownership
Indirect · By Pale Fire Capital SICAV a.s.
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 This Form 4 is filed jointly by Pale Fire Capital SE ("Pale Fire Capital"), Pale Fire Capital SICAV a.s. ("PFC SICAV"), Pale Fire Capital investicni spolecnost a.s. ("PFC IS"), Dusan Senkypl and Jan Barta (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock, $0.00001 par value per share. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
Position & filing details for GORDON CARL L, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owner
GORDON CARL L · Director · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
Position & filing details for Novogratz Michael, GLXY, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
Novogratz Michael · Chief Executive Officer · Director · 10% owner
Galaxy Group Investments LLC · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Class A Common Stock
Ownership
Indirect · Held by Galaxy Group Funding ECI U LLC
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.34 to $13.34 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Position & filing details for TANG KEVIN, BOLD, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
TANG KEVIN · 10% owner
TANG CAPITAL MANAGEMENT LLC · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See Footnote
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 The prices reported are weighted-average prices. These shares were purchased in multiple transactions at prices ranging from $2.38 to $2.40. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares purchased at each price within the range set forth in Footnotes 1 and 3 through 4.
Position & filing details for GORDON CARL L, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owner
GORDON CARL L · Director · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
Position & filing details for Novogratz Michael, GLXY, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
Novogratz Michael · Chief Executive Officer · Director · 10% owner
Galaxy Group Investments LLC · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Class A Common Stock
Ownership
Indirect · Held by Galaxy Group Funding ECI U LLC
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.34 to $13.34 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Position & filing details for Opaleye Management Inc., GRCE, filed Nov 5, 2026
Added 0.10% to reported shares3,051,766 before → 3,054,853 after
Change in this reported indirect Common Stock, par value $0.0001 per share position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Opaleye Management Inc. · 10% owner
Filing facts
Security
Common Stock, par value $0.0001 per share
Ownership
Indirect · By Opaleye, L.P.
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 Represents securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund.
Position & filing details for ORBIMED ADVISORS LLC, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
ORBIMED ADVISORS LLC · Director · 10% owner
OrbiMed Capital GP VII LLC · Director · 10% owner
OrbiMed Genesis GP LLC · Director · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
Position & filing details for ORBIMED ADVISORS LLC, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
ORBIMED ADVISORS LLC · Director · 10% owner
OrbiMed Capital GP VII LLC · Director · 10% owner
OrbiMed Genesis GP LLC · Director · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
Position & filing details for Pale Fire Capital SE, COUR, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
Pale Fire Capital SE · 10% owner
Pale Fire Capital SICAV a.s. · 10% owner
Pale Fire Capital investicni spolecnost a.s. · 10% owner
Senkypl Dusan · 10% owner
Barta Jan · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock, $0.00001 par value per share
Ownership
Indirect · By Pale Fire Capital SICAV a.s.
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 This Form 4 is filed jointly by Pale Fire Capital SE ("Pale Fire Capital"), Pale Fire Capital SICAV a.s. ("PFC SICAV"), Pale Fire Capital investicni spolecnost a.s. ("PFC IS"), Dusan Senkypl and Jan Barta (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock, $0.00001 par value per share. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
Position & filing details for ORBIMED ADVISORS LLC, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
ORBIMED ADVISORS LLC · Director · 10% owner
OrbiMed Capital GP VII LLC · Director · 10% owner
OrbiMed Genesis GP LLC · Director · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
Position & filing details for Fairbanks Jonathan B., FLOC, filed Nov 5, 2026
Added 96.9% to reported shares15,625 before → 30,765 after
Change in this reported direct Class A Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Fairbanks Jonathan B. · Director · 10% owner
Filing facts
Security
Class A Common Stock
Ownership
Direct
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 GEC Capital Group III LP is the general partner of each of GEC Partners III LP and GEC Partners III-GI LP, and GEC Group Ltd. is the general partner of GEC Capital Group III LP. GEC Capital Group III-B LP is the managing member or general partner of each of GEC Estis Co-Invest II LLC and GEC Partners III-B LP, and GEC Group B Ltd. is the general partner of GEC Capital Group III-B LP. Mr. Fairbanks is the manager and controlling member of GEC, GEC Group Ltd. and GEC Group B. Ltd, as well as GEC Advisors LLC, a registered investment advisor to the funds that beneficially own such shares, with discretionary authority over each such fund's accounts. Each of Mr. Fairbanks, GEC Advisors LLC, GEC Capital Group III LP and GEC Group B Ltd. disclaims beneficial ownership of these securities except to the extent of his or its pecuniary interest therein.
Position & filing details for ORBIMED ADVISORS LLC, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
ORBIMED ADVISORS LLC · Director · 10% owner
OrbiMed Capital GP VII LLC · Director · 10% owner
OrbiMed Genesis GP LLC · Director · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
Position & filing details for GORDON CARL L, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owner
GORDON CARL L · Director · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
Position & filing details for DONEGAL MUTUAL INSURANCE CO, DGICA, filed Nov 5, 2026
Added 0.05% to reported shares14,394,628 before → 14,402,128 after
Change in this reported direct Class A Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership.
Position & filing details for TANG KEVIN, BOLD, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
TANG KEVIN · 10% owner
TANG CAPITAL MANAGEMENT LLC · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See Footnote
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 The prices reported are weighted-average prices. These shares were purchased in multiple transactions at prices ranging from $2.38 to $2.40. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares purchased at each price within the range set forth in Footnotes 1 and 3 through 4.
Position & filing details for Opaleye Management Inc., GRCE, filed Nov 5, 2026
Added 0.16% to reported shares3,046,739 before → 3,051,766 after
Change in this reported indirect Common Stock, par value $0.0001 per share position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Opaleye Management Inc. · 10% owner
Filing facts
Security
Common Stock, par value $0.0001 per share
Ownership
Indirect · By Opaleye, L.P.
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 Represents securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund.
Position & filing details for Saba Capital Management, L.P., GRX, filed Nov 5, 2026
Added 0.03% to reported shares2,186,122 before → 2,186,822 after
Change in this reported indirect Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Saba Capital Management, L.P. · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · _
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The securities reported herein are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. Mr. Boaz R. Weinstein serves as the managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.
Position & filing details for GORDON CARL L, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owner
GORDON CARL L · Director · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
Position & filing details for ORBIMED ADVISORS LLC, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
ORBIMED ADVISORS LLC · Director · 10% owner
OrbiMed Capital GP VII LLC · Director · 10% owner
OrbiMed Genesis GP LLC · Director · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
Position & filing details for ORBIMED ADVISORS LLC, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
ORBIMED ADVISORS LLC · Director · 10% owner
OrbiMed Capital GP VII LLC · Director · 10% owner
OrbiMed Genesis GP LLC · Director · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
Position & filing details for GORDON CARL L, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owner
GORDON CARL L · Director · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
Position & filing details for GORDON CARL L, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owner
GORDON CARL L · Director · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
Position & filing details for Saba Capital Management, L.P., MXF, filed Nov 5, 2026
Added 0.61% to reported shares2,478,829 before → 2,493,840 after
Change in this reported indirect Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership; indirect interests may overlap other reported holdings.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
Saba Capital Management, L.P. · 10% owner
Filing facts
Security
Common Stock
Ownership
Indirect · _
Trading plan
Not indicated on this filing
Form
4
Filing footnotes
F1 The securities reported herein are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. Mr. Boaz R. Weinstein serves as the managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.
Position & filing details for TANG KEVIN, BOLD, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
TANG KEVIN · 10% owner
TANG CAPITAL MANAGEMENT LLC · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See Footnote
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 The prices reported are weighted-average prices. These shares were purchased in multiple transactions at prices ranging from $2.38 to $2.40. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares purchased at each price within the range set forth in Footnotes 1 and 3 through 4.
Position & filing details for DONEGAL MUTUAL INSURANCE CO, DGICA, filed Nov 5, 2026
Added 0.05% to reported shares14,387,128 before → 14,394,628 after
Change in this reported direct Class A Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership.
Position & filing details for ORBIMED ADVISORS LLC, ETRA, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
ORBIMED ADVISORS LLC · Director · 10% owner
OrbiMed Capital GP VII LLC · Director · 10% owner
OrbiMed Genesis GP LLC · Director · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock
Ownership
Indirect · See footnotes
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 These securities are held directly by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII.
Position & filing details for Pale Fire Capital SE, COUR, filed Nov 5, 2026
Position percentage unavailable
This filing does not establish an unambiguous before-and-after direct holding for this transaction.
Reporting owners
Pale Fire Capital SE · 10% owner
Pale Fire Capital SICAV a.s. · 10% owner
Pale Fire Capital investicni spolecnost a.s. · 10% owner
Senkypl Dusan · 10% owner
Barta Jan · 10% owner
Jointly reported holdings can overlap.
Filing facts
Security
Common Stock, $0.00001 par value per share
Ownership
Indirect · By Pale Fire Capital SICAV a.s.
Trading plan
Not indicated on this filing
Form
4
Record limitations
Multiple reporting owners appear in this filing; their interests may overlap.
Filing footnotes
F1 This Form 4 is filed jointly by Pale Fire Capital SE ("Pale Fire Capital"), Pale Fire Capital SICAV a.s. ("PFC SICAV"), Pale Fire Capital investicni spolecnost a.s. ("PFC IS"), Dusan Senkypl and Jan Barta (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock, $0.00001 par value per share. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
Position & filing details for NIPPON LIFE INSURANCE CO, CRBG, filed Nov 5, 2026
Added 0.006% to reported shares132,534,113 before → 132,542,014 after
Change in this reported direct Common Stock position, measured against shares held before this transaction. It is not a change in total beneficial ownership.
The filing includes footnotes that may qualify these reported figures; you can review them below.
Reporting owner
NIPPON LIFE INSURANCE CO · 10% owner
Filing facts
Security
Common Stock
Ownership
Direct
Trading plan
Indicated on this filing
Form
4
Filing footnotes
F1 The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on August 7, 2026.
F2 Includes 132,856,938 shares held of record by the Reporting Person and 33,271 shares held of record by Nissay Asset Management Corporation, a direct wholly owned subsidiary of the Reporting Person, which the Reporting Person may be deemed to beneficially own.
F1 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, L.P. ("667"), Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the common stock ("Common Stock") of Kodiak Sciences Inc. (the "Issuer") reported in column 5 of Table I held directly by 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.
F2 Baker Bros. Advisors LP (the "Adviser") serves as the investment adviser to 667 and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds"). In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held directly by the Funds. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held directly by the Funds. The general partners of the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held directly by the Funds.
F3 Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by the Funds except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the Adviser GP or the Adviser is a beneficial owner of such securities for purposes of Section 16 or any other purpose.
F4 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Brothers Life Sciences Capital, L.P. and (ii) Life Sciences, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the Common Stock reported in column 5 of Table I held directly by Life Sciences, a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital, L.P., a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital (GP), LLC, due to their interest in Life Sciences and Baker Brothers Life Sciences Capital, L.P.'s right to receive an allocation of a portion of the profits from Life Sciences.
F1 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, L.P. ("667"), Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the common stock ("Common Stock") of Kodiak Sciences Inc. (the "Issuer") reported in column 5 of Table I held directly by 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.
F2 Baker Bros. Advisors LP (the "Adviser") serves as the investment adviser to 667 and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds"). In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held directly by the Funds. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held directly by the Funds. The general partners of the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held directly by the Funds.
F3 Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by the Funds except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the Adviser GP or the Adviser is a beneficial owner of such securities for purposes of Section 16 or any other purpose.
F4 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Brothers Life Sciences Capital, L.P. and (ii) Life Sciences, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the Common Stock reported in column 5 of Table I held directly by Life Sciences, a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital, L.P., a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital (GP), LLC, due to their interest in Life Sciences and Baker Brothers Life Sciences Capital, L.P.'s right to receive an allocation of a portion of the profits from Life Sciences.
F1 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, L.P. ("667"), Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the common stock ("Common Stock") of Kodiak Sciences Inc. (the "Issuer") reported in column 5 of Table I held directly by 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.
F2 Baker Bros. Advisors LP (the "Adviser") serves as the investment adviser to 667 and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds"). In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held directly by the Funds. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held directly by the Funds. The general partners of the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held directly by the Funds.
F3 Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by the Funds except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the Adviser GP or the Adviser is a beneficial owner of such securities for purposes of Section 16 or any other purpose.
F4 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Brothers Life Sciences Capital, L.P. and (ii) Life Sciences, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the Common Stock reported in column 5 of Table I held directly by Life Sciences, a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital, L.P., a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital (GP), LLC, due to their interest in Life Sciences and Baker Brothers Life Sciences Capital, L.P.'s right to receive an allocation of a portion of the profits from Life Sciences.
F1 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, L.P. ("667"), Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the common stock ("Common Stock") of Kodiak Sciences Inc. (the "Issuer") reported in column 5 of Table I held directly by 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.
F2 Baker Bros. Advisors LP (the "Adviser") serves as the investment adviser to 667 and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds"). In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held directly by the Funds. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held directly by the Funds. The general partners of the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held directly by the Funds.
F3 Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by the Funds except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the Adviser GP or the Adviser is a beneficial owner of such securities for purposes of Section 16 or any other purpose.
F4 After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Brothers Life Sciences Capital, L.P. and (ii) Life Sciences, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the Common Stock reported in column 5 of Table I held directly by Life Sciences, a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital, L.P., a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital (GP), LLC, due to their interest in Life Sciences and Baker Brothers Life Sciences Capital, L.P.'s right to receive an allocation of a portion of the profits from Life Sciences.
F2 Represents securities directly owned by PFC SICAV. PFC IS, as the investment manager of PFC SICAV, may be deemed to beneficially own the securities directly owned by PFC SICAV. Pale Fire Capital, as the controlling person and sole shareholder of each of PFC SICAV and PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Senkypl, as a control person and Chairman of the board of Pale Fire Capital, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Barta, as a control person and Chairman of the supervisory board of Pale Fire Capital and Chief Investment Officer of PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV.
F3 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7054 to $3.7738, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F4 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7970 to $3.8795, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F5 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.6700 to $3.7675, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F3 Each of the Reporting Person, OrbiMed Advisors, GP VII and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 Galaxy Group Funding ECI U LLC is wholly-owned by Galaxy Group Investments LLC, which is controlled by the Reporting Person.
F3 The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.371 to $13.870 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F4 Includes 327,065 shares of Class A Common Stock to be delivered in settlement of restricted share unit awards ("RSUs"), subject to continued service through the applicable vesting date.
F5 Each RSU represents the right to receive one share of Class A common stock.
F2 Tang Capital Partners, LP ("TCP") beneficially owns 691,177 shares, Tang Capital Partners International, LP ("TCPI") beneficially owns 972,673 shares, Tang Capital Partners III, Inc. ("TCP III") beneficially owns 691,170 shares, and Tang Capital Partners IV, Inc. ("TCP IV") beneficially owns 678,598 shares. Kevin Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of TCP and TCPI. Kevin Tang is the sole director and Chief Executive Officer of TCP III and TCP IV, which are indirectly wholly owned by TCP. Mr. Tang has a pecuniary interest in the shares beneficially held by TCP, TCPI, TCP III and TCP IV.
F3 These shares were purchased in multiple transactions at prices ranging from $2.39 to $2.40.
F4 These shares were purchased in multiple transactions at prices ranging from $2.38 to $2.40.
F3 Each of the Reporting Person, OrbiMed Advisors, GP VII and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 Galaxy Group Funding ECI U LLC is wholly-owned by Galaxy Group Investments LLC, which is controlled by the Reporting Person.
F3 The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.371 to $13.870 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F4 Includes 327,065 shares of Class A Common Stock to be delivered in settlement of restricted share unit awards ("RSUs"), subject to continued service through the applicable vesting date.
F5 Each RSU represents the right to receive one share of Class A common stock.
F2 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.775 to $1.79. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.
F3 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.80 to $1.81. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.
F4 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.77 to $1.78. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.
F5 Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
F3 This report on Form 4 is jointly filed by OrbiMed Advisors, GP VII and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
F3 This report on Form 4 is jointly filed by OrbiMed Advisors, GP VII and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 Represents securities directly owned by PFC SICAV. PFC IS, as the investment manager of PFC SICAV, may be deemed to beneficially own the securities directly owned by PFC SICAV. Pale Fire Capital, as the controlling person and sole shareholder of each of PFC SICAV and PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Senkypl, as a control person and Chairman of the board of Pale Fire Capital, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Barta, as a control person and Chairman of the supervisory board of Pale Fire Capital and Chief Investment Officer of PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV.
F3 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7054 to $3.7738, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F4 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7970 to $3.8795, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F5 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.6700 to $3.7675, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
F3 This report on Form 4 is jointly filed by OrbiMed Advisors, GP VII and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
F3 This report on Form 4 is jointly filed by OrbiMed Advisors, GP VII and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F3 Each of the Reporting Person, OrbiMed Advisors, GP VII and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 Tang Capital Partners, LP ("TCP") beneficially owns 691,177 shares, Tang Capital Partners International, LP ("TCPI") beneficially owns 972,673 shares, Tang Capital Partners III, Inc. ("TCP III") beneficially owns 691,170 shares, and Tang Capital Partners IV, Inc. ("TCP IV") beneficially owns 678,598 shares. Kevin Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of TCP and TCPI. Kevin Tang is the sole director and Chief Executive Officer of TCP III and TCP IV, which are indirectly wholly owned by TCP. Mr. Tang has a pecuniary interest in the shares beneficially held by TCP, TCPI, TCP III and TCP IV.
F3 These shares were purchased in multiple transactions at prices ranging from $2.39 to $2.40.
F4 These shares were purchased in multiple transactions at prices ranging from $2.38 to $2.40.
F2 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.775 to $1.79. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.
F3 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.80 to $1.81. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.
F4 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.77 to $1.78. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.
F5 Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F3 Each of the Reporting Person, OrbiMed Advisors, GP VII and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 These shares are directly held by ARCH Venture Fund XIII, L.P. ("ARCH XIII"). ARCH Venture Partners XIII, L.P. ("AVP XIII LP") is the general partner of ARCH XIII. ARCH Venture Partners XIII, LLC ("AVP XIII LLC") is the general partner of AVP XIII LP. Keith Crandell, Robert Nelsen, Kristina Burow, Paul Berns and Steven Gillis are members of the investment committee of AVP XIII LLC (the "AVP XIII LLC Committee Members"). Each of AVP XIII LP and AVP XIII LLC may be deemed to beneficially own the shares held by ARCH XIII, and each of the AVP XIII LLC Committee Members may be deemed to share the power to direct the disposition and vote of the shares held by ARCH XIII. Each of AVP XIII LP, AVP XIII LLC and the AVP XIII LLC Committee Members disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any.
F3 These shares are directly held by ARCH Venture Fund IX, L.P. ("ARCH IX"). ARCH Venture Partners IX, L.P. ("GPLP"), as the sole general partner of ARCH IX, may be deemed to beneficially own the shares held by ARCH IX. ARCH Venture Partners IX, LLC ("GPLLC"), as the sole general partner of GPLP, may be deemed to beneficially own the shares held by ARCH IX. As managing directors of GPLLC, each of Keith Crandell, Robert Nelsen and Clinton Bybee (the "ARCH Managing Directors"), may be deemed to beneficially own the shares held by ARCH IX. Each of GPLP, GPLLC and the ARCH Managing Directors disclaims beneficial ownership of the securities reported herein, except to the extent of their pecuniary interest therein, if any.
F4 These shares are directly held by ARCH Venture Fund IX Overage, L.P. ("ARCH Overage"). ARCH Venture Partners IX Overage, L.P. ("Overage GPLP"), as the sole general partner of ARCH Overage, may be deemed to beneficially own the shares held by ARCH Overage. GPLLC, as the sole general partner of Overage GPLP, may be deemed to beneficially own the shares held by ARCH Overage. As managing directors of GPLLC, each of the ARCH Managing Directors may be deemed to beneficially own the shares held by ARCH Overage. Each of Overage GPLP, GPLLC and the ARCH Managing Directors disclaims beneficial ownership of the securities reported herein, except to the extent of their pecuniary interest therein, if any.
F1 These shares were purchased on November 4, 2026 pursuant to a securities purchase agreement dated November 3, 2026 at a price per share of $10.77.
F2 These shares are directly held by ARCH Venture Fund XIII, L.P. ("ARCH XIII"). ARCH Venture Partners XIII, L.P. ("AVP XIII LP") is the general partner of ARCH XIII. ARCH Venture Partners XIII, LLC ("AVP XIII LLC") is the general partner of AVP XIII LP. Keith Crandell, Robert Nelsen, Kristina Burow, Paul Berns and Steven Gillis are members of the investment committee of AVP XIII LLC (the "AVP XIII LLC Committee Members"). Each of AVP XIII LP and AVP XIII LLC may be deemed to beneficially own the shares held by ARCH XIII, and each of the AVP XIII LLC Committee Members may be deemed to share the power to direct the disposition and vote of the shares held by ARCH XIII. Each of AVP XIII LP, AVP XIII LLC and the AVP XIII LLC Committee Members disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any.
F3 These shares are directly held by ARCH Venture Fund IX, L.P. ("ARCH IX"). ARCH Venture Partners IX, L.P. ("GPLP"), as the sole general partner of ARCH IX, may be deemed to beneficially own the shares held by ARCH IX. ARCH Venture Partners IX, LLC ("GPLLC"), as the sole general partner of GPLP, may be deemed to beneficially own the shares held by ARCH IX. As managing directors of GPLLC, each of Keith Crandell, Robert Nelsen and Clinton Bybee (the "ARCH Managing Directors"), may be deemed to beneficially own the shares held by ARCH IX. Each of GPLP, GPLLC and the ARCH Managing Directors disclaims beneficial ownership of the securities reported herein, except to the extent of their pecuniary interest therein, if any.
F4 These shares are directly held by ARCH Venture Fund IX Overage, L.P. ("ARCH Overage"). ARCH Venture Partners IX Overage, L.P. ("Overage GPLP"), as the sole general partner of ARCH Overage, may be deemed to beneficially own the shares held by ARCH Overage. GPLLC, as the sole general partner of Overage GPLP, may be deemed to beneficially own the shares held by ARCH Overage. As managing directors of GPLLC, each of the ARCH Managing Directors may be deemed to beneficially own the shares held by ARCH Overage. Each of Overage GPLP, GPLLC and the ARCH Managing Directors disclaims beneficial ownership of the securities reported herein, except to the extent of their pecuniary interest therein, if any.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
F3 This report on Form 4 is jointly filed by OrbiMed Advisors, GP VII and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
F3 This report on Form 4 is jointly filed by OrbiMed Advisors, GP VII and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F3 Each of the Reporting Person, OrbiMed Advisors, GP VII and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F3 Each of the Reporting Person, OrbiMed Advisors, GP VII and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
A reliable share count or transaction price is missing.
Filing footnotes
F1 In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("PSCM"), this Form 4 is being filed jointly by PSCM GP, LLC, a Delaware limited liability company ("PSCM GP"), Pershing Square Inc., a Nevada corporation ("PS Inc."), Pershing Square Management, LLC, a Delaware limited liability company ("ManagementCo"), Pershing Square Partner Group, LLC, a Delaware limited liability company ("PSPG"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as PSCM and may be deemed to beneficially own the securities of the Issuer reported on this Form 4 (the "Subject Securities").
F2 PSCM advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PSLP"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PSI"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PSLP and PSI, the "Pershing Square Affiliated Funds") and PS Redemption, L.P., a Delaware limited partnership ("RedemptionCo"). The Pershing Square Affiliated Funds are the members of Pershing Square SPARC Sponsor, LLC, a Delaware limited liability company ("Sponsor"), and RedemptionCo was a member of the Sponsor immediately prior to the SPARC Membership Transfer (as defined below). PSCM is the non-member manager of the Sponsor. PSCM also advises PS SPARC I Master, L.P. ("SPARC Master LP").
F3 (Continued from Footnote 2) PS Inc. is the holding company of PSCM, and PSCM GP is the general partner of PSCM. ManagementCo holds majority voting power over PS Inc. (including in its capacity as the managing member of PSPG). ManagementCo is governed by its members, consisting of Mr. Ackman, Ryan Israel, Ben Hakim, Michael Gonnella, Anthony Massaro and Halit Coussin (collectively, the "ManagementCo Members"). Mr. Ackman owns 24.9% of the voting interests of ManagementCo, with Mr. Israel, Mr. Hakim, Mr. Gonnella, Mr. Massaro and Ms. Coussin each owning the remainder of the voting interests equally (approximately 15% each), and the approval of a majority of the voting interests is generally required to approve any action of ManagementCo.
F4 (Continued from Footnote 3) ManagementCo, PSPG, PS Inc., PSCM GP and PSCM may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). By virtue of Mr. Ackman's position as, among other positions, the Chief Executive Officer of PSCM, Mr. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Exchange Act. Each of the Reporting Persons and ManagementCo Members disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.
F5 (Continued from Footnote 4) ManagementCo, PSPG and PS Inc. were inadvertently omitted as reporting persons from the prior Form 4 jointly filed by Mr. Ackman, PSCM GP and PSCM on April 23, 2026 with respect to the Subject Securities, and each of ManagementCo, PSPG and PS Inc. may have been deemed to have had beneficial ownership of the same Subject Securities reported in that prior Form 4 and similarly disclaim any such beneficial ownership except to the extent of any pecuniary interest therein.
F6 On November 3, 2026, approximately 1.8% of the membership interest in the Sponsor was transferred from RedemptionCo to PSH for aggregate cash consideration of $806,976.20 in connection with the ongoing liquidation of RedemptionCo (the foregoing transfer, the "SPARC Membership Transfer"). RedemptionCo was formed for the purpose of giving effect to the redemption of certain limited partner interests of PSLP in connection with a special redemption opportunity that was consummated on April 21, 2026, and RedemptionCo is intended to be liquidated following the fulfillment of that purpose.
F7 (Continued from Footnote 6) The membership interest held by RedemptionCo represented a proportionate number (based on the size of the special redemption opportunity) of shares of the Issuer's common stock, par value $0.0001 per share ("Common Stock") and Sponsor Warrants (as defined below) held by the Sponsor. The SPARC Membership Transfer did not result in a change of aggregate ownership of the Issuer's Common Stock and Sponsor Warrants by the Sponsor.
F8 The 422,533 shares of the Issuer's Common Stock were issued to the Sponsor prior to the Issuer's initial public distribution. The aggregate voting power of the 422,533 shares of Common Stock is equal to 100% of the total voting power of the Issuer's Common Stock outstanding immediately following the initial public distribution.
F9 These Subject Securities were held by RedemptionCo through its membership interest in the Sponsor immediately prior to the SPARC Membership Transfer. As a result of the SPARC Membership Transfer, RedemptionCo no longer holds any membership interest in the Sponsor or Subject Securities.
F10 These Subject Securities are held by the Pershing Square Affiliated Funds through their membership interest in the Sponsor.
F11 Reflects securities acquirable by the Pershing Square Affiliated Funds in connection with that certain committed forward purchase agreement ("Committed Forward Purchase Agreement"), dated September 29, 2023, between the Issuer and the Pershing Square Affiliated Funds. Pursuant to the Committed Forward Purchase Agreement, the Pershing Square Affiliated Funds are obligated to purchase, in one or more private placements to occur simultaneously with the closing of the Issuer's business combination, at least $250,000,000 and up to $1,000,000,000 of common shares of the surviving entity of the Issuer's business combination based upon the final exercise price (the "Final Exercise Price") of the Issuer's subscription warrants, referred to as SPARs, which will be publicly announced in connection with the business combination and which will be at least $10.00.
F12 (Continued from Footnote 11) For purposes of this Form 4, the Reporting Persons have assumed a Final Exercise Price equal to $10.00 and therefore the Pershing Square Affiliated Funds will be obligated to purchase 250,000 forward purchase shares ("Forward Purchase Shares") of the Issuer, at a price of $10.00 per Forward Purchase Share. The obligation of the Pershing Square Affiliated Funds to purchase the Forward Purchase Shares may be allocated among the Pershing Square Affiliated Funds from time to time. The Forward Purchase Shares will generally not be transferable, assignable or salable until 180 days after the consummation of the Issuer's business combination.
F13 Reflects securities acquirable by SPARC Master LP in connection with that certain additional forward purchase agreement ("Additional Forward Purchase Agreement"), dated September 29, 2023, between the Issuer and SPARC Master LP. Pursuant to the Additional Forward Purchase Agreement, SPARC Master LP has the right, but not the obligation, to purchase, in one or two tranches, a number of common shares of the surviving entity of the Issuer's business combination up to an amount equal to $3,500,000,000 less the amount obligated to be purchased by the Pershing Square Affiliated Funds pursuant to the Committed Forward Purchase Agreement.
F14 (Continued from Footnote 13) For purposes of this Form 4, the Reporting Persons have assumed a Final Exercise Price equal to $10.00 and therefore SPARC Master LP will have the right, but not the obligation, to purchase up to 3,250,000 additional forward purchase shares ("Additional Forward Purchase Shares") of the Issuer, at a price of $10.00 per Additional Forward Purchase Share. SPARC Master LP's right to purchase the Additional Forward Purchase Shares may be transferred, in whole or in part, to any entity that is managed by PSCM, but not to third parties. The Additional Forward Purchase Shares will generally not be transferable, assignable or salable until 180 days after the consummation of the Issuer's business combination.
F15 Prior to the Issuer's initial public distribution, the Sponsor purchased, in a private placement, an aggregate of $35,892,480 of sponsor warrants ("Sponsor Warrants"), which will be exercisable, in the aggregate, for a number of shares up to 4.95% of the outstanding shares (on a fully diluted basis) of the post-combination company, at a per share exercise price equal to 120% of the Final Exercise Price. The actual percentage of shares on a fully diluted basis into which the Sponsor Warrants are exercisable will depend on and be decreased ratably in the event that (1) the aggregate funds raised at the closing of the business combination from the exercise of the SPARs and the amount purchased by SPARC Master LP pursuant to the Additional Forward Purchase Agreement, if any, is less than (2) the amount of funds that would have been raised if 100% of the issued SPARs had been exercised at the closing of the business combination.
F16 (Continued from Footnote 15) The Sponsor Warrants will generally not be transferable, assignable or salable until three years after the consummation of the Issuer's business combination, and expire 10 years after the date of the Issuer's business combination.
F2 Tang Capital Partners, LP ("TCP") beneficially owns 691,177 shares, Tang Capital Partners International, LP ("TCPI") beneficially owns 972,673 shares, Tang Capital Partners III, Inc. ("TCP III") beneficially owns 691,170 shares, and Tang Capital Partners IV, Inc. ("TCP IV") beneficially owns 678,598 shares. Kevin Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of TCP and TCPI. Kevin Tang is the sole director and Chief Executive Officer of TCP III and TCP IV, which are indirectly wholly owned by TCP. Mr. Tang has a pecuniary interest in the shares beneficially held by TCP, TCPI, TCP III and TCP IV.
F3 These shares were purchased in multiple transactions at prices ranging from $2.39 to $2.40.
F4 These shares were purchased in multiple transactions at prices ranging from $2.38 to $2.40.
F2 These securities are held directly by OrbiMed Genesis Master Fund, L.P. ("OrbiMed Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of OrbiMed Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis.
F3 This report on Form 4 is jointly filed by OrbiMed Advisors, GP VII and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
F2 Represents securities directly owned by PFC SICAV. PFC IS, as the investment manager of PFC SICAV, may be deemed to beneficially own the securities directly owned by PFC SICAV. Pale Fire Capital, as the controlling person and sole shareholder of each of PFC SICAV and PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Senkypl, as a control person and Chairman of the board of Pale Fire Capital, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV. Mr. Barta, as a control person and Chairman of the supervisory board of Pale Fire Capital and Chief Investment Officer of PFC IS, may be deemed to beneficially own the securities beneficially owned directly by PFC SICAV.
F3 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7054 to $3.7738, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F4 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7970 to $3.8795, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F5 Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.6700 to $3.7675, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.
F3 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $34.73 to $35.725, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth herein.
F4 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $35.73 to $36.55, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth herein.
