George Magrath, Chief Executive Officer and Director of Opus Genetics, Inc. (NASDAQ:IRD), filed a Form 4 on September 11, 2026, disclosing a warrant exercise and related share withholding transaction dated September 9, 2026.

Key Highlights

  • Warrant exercised: George Magrath exercised a warrant for 392,157 shares of Common Stock at a conversion price of $1.15 per share on September 9, 2026.
  • Cashless exercise: The exercise was conducted on a cashless basis; the issuer withheld 75,541 shares at $5.97 per share to cover the exercise price, with 316,616 shares issued to Magrath.
  • Resulting ownership: Following both transactions, Magrath directly holds 2,048,485 shares of Common Stock.
  • Warrant extinguished: The warrant, which carried an expiration date of March 25, 2030, now shows a remaining balance of 0 derivative securities beneficially owned.
  • Warrant origin: According to the filing, the warrant was immediately exercisable upon its acquisition on March 24, 2025, subject to certain call conditions tied to the issuer's OPGx-BEST1 DUO-1001 Cohort 1 data release.

Details of George Magrath's Warrant Exercise at Opus Genetics

According to the filing, George Magrath, who serves as both Chief Executive Officer and Director of Opus Genetics, Inc. (NASDAQ:IRD), executed two transactions on September 9, 2026. The first was a warrant exercise coded "M," under which 392,157 shares of Common Stock were acquired at $1.15 per share, bringing his beneficial ownership to 2,124,026 shares directly held. The second transaction, coded "F," reflected the withholding of 75,541 shares at $5.97 per share by the issuer to satisfy the cashless exercise price.

The filing's explanation of responses states: "The Reporting Person paid the exercise price of the Warrant on a cashless basis. The Issuer withheld 75,541 shares, calculated in accordance with the terms of the Warrant, to pay the exercise price and issued the remaining 316,616 shares to the Reporting Person." After both transactions, Magrath's direct beneficial ownership in Common Stock stands at 2,048,485 shares, as reported in the filing.

The filing further discloses that the warrant was "immediately exercisable upon its acquisition on March 24, 2025," but was subject to the issuer's right to call the warrant beginning 30 days after release of OPGx-BEST1 DUO-1001 Cohort 1 data, provided that a volume weighted average price of over $1.725 per share was achieved for 30 consecutive trading days and the trading average daily volume for that period exceeded $150,000 per trading day. The warrant, which had an expiration date of March 25, 2030, shows a remaining balance of 0 following the exercise. The form was signed by Amy Rabourn by Power of Attorney and filed on September 11, 2026.

What Was Disclosed

Opus Genetics CEO George Magrath disclosed the cashless exercise of a warrant for 392,157 shares of Common Stock on September 9, 2026, with the issuer retaining 75,541 shares as payment, resulting in direct beneficial ownership of 2,048,485 shares.