Director Cam Gallagher filed a Form 4 with the SEC on September 8, 2026, reporting the exercise of a warrant to acquire 784,314 shares of Opus Genetics, Inc. common stock at $1.15 per share, along with entry into a 180-day lock-up agreement with the issuer.

Key Highlights

  • Warrant exercised: Cam Gallagher converted a warrant covering 784,314 shares of common stock at an exercise price of $1.15 per share on September 8, 2026.
  • Post-transaction direct ownership: Following the transaction, Gallagher directly holds 2,800,111 shares of Opus Genetics common stock.
  • Lock-up agreement: In conjunction with the exercise, Gallagher entered into a Lock-Up Agreement dated September 6, 2026, restricting transfer or disposal of common stock for 180 days after share issuance.
  • Indirect holdings: Gallagher also holds 83,000 shares indirectly as custodian for a minor child under a UTMA/UGMA arrangement, with beneficial ownership of those shares disclaimed except to the extent of any pecuniary interest.
  • Warrant origin: According to the filing, the warrant was immediately exercisable upon its acquisition on March 24, 2025, subject to the issuer's right to call the warrant under specified conditions.
  • Issuer call conditions: The issuer's call right applies beginning 30 days after release of OPGx-BEST1 DUO-1001 Cohort 1 data, upon a 30-consecutive-trading-day volume weighted average price exceeding $1.725 per share and average daily trading volume exceeding $150,000 per trading day.

Warrant Exercise and Lock-Up Terms for Gallagher at Opus Genetics

Cam Gallagher, a director of Opus Genetics, Inc. (NASDAQ:IRD), reported the exercise of a warrant covering 784,314 shares of the company's common stock on September 8, 2026, according to the Form 4 filing. The transaction was coded "M," reflecting the conversion of a derivative security. The exercise price was $1.15 per share, and the warrant carried an expiration date of March 25, 2030, as stated in the filing.

The filing discloses that in connection with the warrant exercise, Gallagher entered into a Lock-Up Agreement with Opus Genetics dated September 6, 2026. Under the agreement, the reporting person agreed that, "without the prior written consent of the Issuer," he will not "transfer or dispose of, directly or indirectly, any shares of Common Stock, or any securities convertible into or exercisable or exchangeable for Common Stock" during the period beginning September 6, 2026, and ending 180 days after issuance of the underlying shares, subject to certain exclusions described in the agreement.

Following the transaction, Gallagher's direct beneficial ownership stands at 2,800,111 shares. An additional 83,000 shares are held indirectly through a UTMA/UGMA custodial account for a minor child under the name "Garret Gallagher - Custodian UTMA/UGMA." The filing notes that Gallagher disclaims beneficial ownership of the indirectly held shares except to the extent of any pecuniary interest. The Form 4 was signed by Amy Rabourn by Power of Attorney on September 8, 2026.

What Was Disclosed

Director Cam Gallagher of Opus Genetics reported a warrant exercise of 784,314 common shares at $1.15 per share on September 8, 2026, resulting in direct ownership of 2,800,111 shares, along with entry into a 180-day lock-up agreement with the issuer.