[144] ARDMORE SHIPPING CORPORATION SEC Filing

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Form 3 highlights for the newly renamed Crescent Biopharma, Inc. (formerly GlycoMimetics, Inc.) detail the initial equity position of Chief Business Officer Christopher Grant Doughty following the company鈥檚 June 13, 2025 two-step merger with Crescent Biopharma and its subsequent June 16, 2025 redomiciling from Delaware to the Cayman Islands.

Equity position:

39,480 restricted ordinary shares received in exchange for pre-merger Crescent restricted stock. These shares vest 25 % on 09/28/2025 and monthly thereafter through 09/28/2028.
152,782 stock-option shares (exercise price $6.16) expiring 12/11/2034; 19,098 are fully vested, the balance vest monthly through 12/11/2028.

Corporate actions reflected in the filing:

Completion of the Crescent Biopharma reverse-merger whereby GlycoMimetics became a wholly owned parent and immediately changed its name to Crescent Biopharma, Inc.
Conversion of the corporate domicile from Delaware to the Cayman Islands; each common share converted 1-for-1 into ordinary shares and all outstanding options were rolled over on identical terms.

The Form 3 is disclosure-only; it does not involve any open-market transactions, but it establishes the insider鈥檚 ownership baseline and confirms the equity rollover mechanics tied to the merger and redomicile.

Insights

TL;DR: Insider Form 3 confirms merger completion, redomicile, and aligned executive incentives; overall governance impact neutral.

The filing principally serves to formalize Christopher Doughty鈥檚 post-merger holdings. By rolling legacy equity 1-for-1 into Cayman ordinary shares and mirroring option terms, Crescent demonstrates continuity of incentive structures during a complex reorganization. The vesting schedules stretching to 2028 encourage management retention, but also create a predictable dilution path already embedded in the cap table. The move offshore may add flexibility in governance and capital-raising, yet those implications are outside this document鈥檚 scope. No immediate trading by the executive is reported, so market impact is minimal today.

TL;DR: Filing is routine; shows CBO holds ~192k share equivalents, modest versus typical biotech cap, dilution manageable.

Doughty鈥檚 39,480 restricted shares plus 152,782 options translate to roughly 192k share equivalents, a modest slice in a biotech likely exceeding 50 m shares outstanding. The $6.16 strike offers upside alignment if the combined entity executes post-merger strategy. Because no purchase or sale occurred, the filing does not signal sentiment, but it does provide clarity on future option overhang鈥攁bout 0.3-0.4 % of a mid-cap biotech share count. Overall, the information is useful for dilution modeling yet not material enough to move valuation.

06/24/2025 - 04:40 PM

144: Filer Information

Filer CIK

Filer CCC

Is this a LIVE or TEST Filing?

LIVE TEST

Submission Contact Information

Name

Phone

E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold

Name and Address of the Broker

Number of Shares or Other Units To Be Sold

Aggregate Market Value

Number of Shares or Other Units Outstanding

Approximate Date of Sale

Name the Securities Exchange

Common Stock

Stifel Nicolaus & Company Inc
501 N Broadway
St. Louis MO 63102

24135

236081.00

40455240

06/24/2025

NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class

Date you Acquired

Nature of Acquisition Transaction

Name of Person from Whom Acquired

Is this a Gift?

Date Donor Acquired

Amount of Securities Acquired

Date of Payment

Nature of Payment *

Common Stock

06/24/2025

Restricted Stock Units

Issuer

48269

06/24/2025

Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

Source:

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