David L. Schwed, Chief Operating Officer of SVRN, Inc. (NASDAQ:SVRN), filed an amended initial statement of beneficial ownership on November 2, 2026, correcting a prior disclosure and reflecting share counts adjusted for a 1-for-20 reverse stock split effected on March 30, 2026.

Key Highlights

  • Reporting person: David L. Schwed, Chief Operating Officer of SVRN, Inc., based in Athens, Greece.
  • Beneficial ownership: 54,810 shares of common stock held directly, as reported after the 1-for-20 reverse stock split.
  • Vesting schedule: 25% of the restricted stock grant vests on September 22, 2026, with the remaining balance vesting in equal monthly installments through December 2026, subject to continued service.
  • Reverse split date: SVRN, Inc. effected a 1-for-20 reverse stock split of its common stock on March 30, 2026.
  • Amendment reason: The filing was amended to correct a restricted stock award that was "inadvertently reported as a derivative security" on the original filing.
  • Event date: The date of the event requiring the statement was March 18, 2026; the original filing date was March 24, 2026.

Schwed's Corrected Ownership and the SVRN Reverse Stock Split

According to the amended filing, David L. Schwed holds 54,810 shares of SVRN, Inc. common stock directly. The filing states that this share count reflects the Reporting Person's holdings "after giving effect to the Reverse Split," referring to the 1-for-20 reverse stock split that SVRN, Inc. carried out on March 30, 2026. The original beneficial ownership figure would therefore have represented a pre-split count prior to that corporate action.

The filing discloses that the 54,810 shares were granted as restricted common stock, with a vesting schedule structured as follows: 25% of the shares vest on September 22, 2026, and the remaining balance vests in equal monthly installments through December 2026, contingent on continued service on each applicable vesting date. The amendment was necessitated, the filing states, because the original Form 3 had classified this restricted stock award incorrectly as a derivative security rather than a non-derivative holding, which is now reported in Table I of the corrected form. No derivative securities are reported in Table II of this amended filing.

SVRN, Inc. trades on NASDAQ under the symbol SVRN. The filing was signed by David L. Schwed and dated November 2, 2026, the same date it was submitted to the SEC.

What Was Disclosed

David L. Schwed, COO of SVRN, Inc., filed an amended initial beneficial ownership statement disclosing 54,810 directly held shares of common stock, post-reverse split, and correcting the prior misclassification of a restricted stock award as a derivative security.