Hasnain Faheem, Executive Chair and Director of Aspen Neuroscience, Inc. (NASDAQ:ASPE), filed an initial statement of beneficial ownership on Form 3 dated October 29, 2026, disclosing direct and indirect holdings of common stock, convertible preferred stock, and stock options.

Key Highlights

  • Direct common stock: Faheem reported direct beneficial ownership of 26,658 shares of Common Stock.
  • Preferred stock held indirectly: The Hasnain Revocable Trust holds Series A-1, A-2, and Series C Convertible Preferred Stock convertible into 14,913, 14,316, and 7,120 shares of Common Stock, respectively, on a 1-for-9.8821 basis.
  • Stock option expiring 2032: A fully vested option to purchase 27,322 shares of Common Stock at $7.71 per share, granted June 16, 2022, expiring June 15, 2032.
  • Stock option expiring 2035: An option to purchase 41,489 shares of Common Stock at $5.74 per share, granted November 26, 2025, with a vesting schedule amended in September 2026.
  • Amended vesting schedule: As of September 25, 2026, unvested shares under the 2025 option vest in equal monthly installments through November 20, 2031, subject to continuous service.
  • IPO conversion feature: Each share of Preferred Stock will automatically convert into Common Stock upon completion of the issuer's initial public offering, for no additional consideration.

Faheem's Initial Ownership Disclosure at Aspen Neuroscience

According to the filing, Hasnain Faheem serves as both a Director and Executive Chair of Aspen Neuroscience, Inc. (NASDAQ:ASPE). The Form 3, filed October 29, 2026, is an initial statement of beneficial ownership required under Section 16(a) of the Securities Exchange Act of 1934, reflecting the date of event requiring the statement as October 29, 2026.

The filing discloses that Faheem directly owns 26,658 shares of Common Stock. In addition, the Hasnain Revocable Trust indirectly holds three series of convertible preferred stock: Series A-1 Convertible Preferred Stock convertible into 14,913 shares, Series A-2 Convertible Preferred Stock convertible into 14,316 shares, and Series C Convertible Preferred Stock convertible into 7,120 shares of Common Stock. The filing states that each preferred share converts at a 1-for-9.8821 ratio and that share counts already reflect this conversion. Upon completion of the issuer's initial public offering, all preferred shares will automatically convert into Common Stock for no additional consideration, according to the filing.

Regarding stock options, the filing reports two direct holdings. The first is a fully vested option to purchase 27,322 shares at $7.71 per share, originally granted June 16, 2022, and expiring June 15, 2032. The second is an option to purchase 41,489 shares at $5.74 per share, granted November 26, 2025, expiring November 25, 2035. The filing notes that the vesting schedule for this second option was amended in September 2026, such that unvested shares as of September 25, 2026, now vest in equal monthly installments through November 20, 2031, subject to the reporting person's continuous service through each vesting date.

What Was Disclosed

Hasnain Faheem filed an initial beneficial ownership statement as Executive Chair and Director of Aspen Neuroscience, Inc., disclosing direct common stock, indirectly held convertible preferred stock through a revocable trust, and two stock options with exercise prices of $7.71 and $5.74 per share.