June 17, 2026 · Form 4 insider transaction
Venkatesan Jay bought 224,152 shares of SER Corp at $2.25 per share, a transaction worth $504.3K. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 5 days after the transaction.
Shares reflect the mandatory conversion at an adjusted Conversion Price of $2.25 of the Company's Series A Convertible Prefered Stock ("Series A Preferred") issued in connection with the April 2025 Private Placement. The Reporting Person was originally issued 96,525 shares of Series A Preferred that were converted into 222,222 shares of Common Stock and 1,930 shares that were issued for payment of accrued dividends. Shares were issued upon receipt of stockholder approval, which approval was obtained on June 17, 2026, thereby triggering the automatic conversion of the Series A Preferred into common stock.; The share ownership amount has been adjusted to correct an administrative error in a prior Form 4 filed by the Reporting Person, which inadvertently reported 7,553 shares as direct ownership, rather than indirect ownership.