KALA BIO, Inc. · Stock award · Series AA Convertible Preferred Stock

What does this filing report?

An SEC Form 4 filing for KALA BIO, Inc. records a stock award involving Series AA Convertible Preferred Stock on November 24, 2025. The reported quantity was 900,000. The filing date is November 26, 2025. This is one transaction record; amounts are not allocated among any joint reporting owners.

The acquisition category describes how securities were received. It does not by itself establish a cash purchase of common stock. Read the transaction code definitionsand the original filing before interpreting the amounts.

Derivative terms

Underlying security

Common Stock

Underlying quantity

49,500,000

Conversion / exercise price

Not reported

Exercise date

Not reported

Expiration date

Not reported

Filing footnotes & remarks

F1

No shares of common stock are beneficially owned.

F2

On November 24, 2025, David E. Lazar (the "Reporting Person") and KALA BIO, Inc. (the "Company") entered into a securies purchase agreement (the "Purchase Agreement") pursuant to which the Reporting Person acquired an aggregate of 900,000 shares of the Company's Series AA Convertible Non-Redeemable Preferred Stock (the "Series AA Preferred Stock") at a price of $2.00 per share, for a total purchase price of $1,800,000. Pursuant to the Purchase Agreement, the Reporting Person will also acquire, at a subsequent closing, an aggregate of 2,100,000 shares of the Company's Series AAA Convertible Non-Redeemable Preferred Stock (the "Series AAA Preferred Stock", and together with the Series AA Preferred Stock, the "Preferred Stock") at a price of $2.00 per share, for an additional purchase price of $4,200,000.

F3

Each share of Series AA Preferred Stock will be convertible into 55 shares of the Company's common stock at any time, subject to certain ownership limitations. Each share of Series AAA Preferred Stock will be convertible into 420 shares of the Company's common stock at any time, subject to certain ownership limitations. No shares of Preferred Stock will be convertible until the Company's stockholders approve a) an increase in the Company's authorized capital to enable the Company to issue all of the shares of common stock that are issuable upon the conversion of the Preferred Stock and b) the conversion of the Preferred Stock into shares of common stock in accordance with the listing rules of The Nasdaq Stock Market, LLC (the "Stockholder Approval").

F4

Following receipt by the Company of the Stockholder Approval, the shares of Series AA Preferred Stock will be convertible at the option of the Reporting Person for no additional consideration.

F5

The Series AA Preferred Stock is perpetual and therefore has no expiration date.

Footnotes are reproduced as plain text from the current source filing. For the full context, read the original SEC filing.