Salvatore J. Ternullo, Chief Executive Officer and Director of SVRN, Inc., filed an amended initial statement of beneficial ownership on November 4, 2026, correcting how a restricted stock award was previously categorized and reflecting share counts adjusted for a 1-for-20 reverse stock split.

Key Highlights

  • Reporting person: Salvatore J. Ternullo, serving as both Chief Executive Officer and Director of SVRN, Inc.
  • Beneficial ownership: 41,108 shares of common stock held directly, as reported after the 1-for-20 reverse stock split effected on March 30, 2026.
  • Vesting schedule: 25% of the restricted stock grant vests on September 1, 2026, with the remaining balance vesting monthly in equal installments over 36 months, subject to continued service.
  • Amendment purpose: The filing corrects an earlier report in which the restricted stock award was inadvertently categorized as a derivative security rather than a non-derivative security.
  • Event date: The date of the event requiring the original statement was March 18, 2026.

Ternullo's Corrected Ownership Filing and Restricted Stock Details at SVRN

According to the filing, Salvatore J. Ternullo was granted 41,108 shares of restricted common stock in SVRN, Inc. (NASDAQ:SVRN). The amendment was necessary because, as the filing states, the award "was inadvertently reported as a derivative security on the Reporting Person's original Form 3." The corrected filing moves the award to Table I, covering non-derivative securities beneficially owned directly by Ternullo.

The filing further discloses that SVRN, Inc. effected a 1-for-20 reverse stock split of its common stock on March 30, 2026. The 41,108 share figure reported in the amended filing reflects that adjustment. The vesting structure ties the award to continued service: 25% becomes exercisable on September 1, 2026, and the remaining 75% vests in equal monthly installments across the following 36 months. No derivative securities are reported in Table II of this filing.

Ternullo's address on file is listed as Athens, Greece, and the filing was signed on November 4, 2026. The original statement covered the event date of March 18, 2026, with this amendment filed to supply the accurate security classification and post-split share count.

What Was Disclosed

SVRN, Inc.'s CEO and Director Salvatore J. Ternullo filed an amended beneficial ownership statement disclosing direct ownership of 41,108 shares of restricted common stock, adjusted for a 1-for-20 reverse stock split, and correcting a prior misclassification of the award as a derivative security.