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# Puma CEO Auerbach Files 13D Amendment Only Because A $16.00 Warrant Expired Worthless
- URL: https://www.bullished.co/puma-ceo-auerbach-files-13d-amendment-only-because-a-16-00-warrant-expired-worthless-dcc7fa62/
- Published: 2026-10-07T01:45:54.000Z
- Updated: 2026-10-07T01:45:54.000Z
- Description: The filing shows Alan Auerbach still holds about 16% of Puma Biotechnology, with no new demands attached to the amendment.
- Author: Matteo Parrino
- Tags: SEC Filings, PBYI, Industry: Healthcare, Topic: Ownership & Activism

Puma Biotechnology CEO Alan Auerbach amended his ownership disclosure in a [Schedule 13D/A](https://www.sec.gov/Archives/edgar/data/0001358285/000110465926114167/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co) filed Tuesday for one reason: a warrant covering 2,116,250 shares expired unexercised on October 4\. The filing shows he beneficially owns 8,648,958 shares, about 16% of the company, and states no new plans.

## What the amendment says

Auerbach is Puma's president, chief executive and a director. Amendment No. 6 records that the warrant, issued to him on October 4, 2011 and amended on June 15, 2021, let him buy shares at [$16.00](https://www.sec.gov/Archives/edgar/data/0001358285/000110465926114167/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co) each. It lapsed under its own terms.

His stake breaks down into three pieces:

- 6,400,295 shares held directly.
- 1,556,721 shares issuable on vested stock options, or options exercisable within 60 days of October 4, 2026.
- 691,942 shares issuable on restricted stock units vesting within 60 days of that date.

He has sole power to vote and to dispose of all of it. The 16.0% figure uses 51,698,356 shares outstanding as of October 5, 2026\. The filing adds that he engaged in no other transactions in the past 60 days.

## No activist agenda in Item 4

Item 4, where a filer states intentions, carries standard language. Auerbach says he may buy more shares, including through pay awards from Puma, or sell some or all in the open market or private deals. He also notes his role may give him influence over the company and lead him to talk with directors, management and stockholders.

The filing contains no new demands, nominations or board letter. Beyond what the filing describes, he says he has no present plans or proposals tied to the actions listed in Item 4 of Schedule 13D.

## What it changes

The expired warrant was the only item removed. It covered 2,116,250 shares at a $16.00 exercise price, well above the $9.50 share price in Tuesday after-hours trading, which matched the regular-session close (market data). Puma's market capitalization is about $499 million (market data).

This is the sixth amendment to a Schedule 13D Auerbach first filed on October 14, 2011\. Earlier amendments are dated November 2012, April 2015, February 2019, March 2022 and December 2022.

The filing's own stated trigger is the lapse of the warrant on October 4, and nothing else in it changes Auerbach's disclosed position or intentions.

### Sources

- [SCHEDULE 13D/A — Alan H. Auerbach re: Puma Biotechnology, Inc. (PBYI)](https://www.sec.gov/Archives/edgar/data/0001358285/000110465926114167/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co) — SEC EDGAR