When PARK insiders can sell

Park Dental Partners, Inc. · IPO prospectus filed 2025-12-03 · Single cliff · 180-day lock-up

Scheduled lock-up expiry
2026-06-01

That is the calendar date the clause computes to, counted from the prospectus date. It is the only date computable without knowing a future earnings date, which is why everything that could pull it earlier is printed below it on this page rather than folded into it.

The lock-up clause, in the issuer's words

Every other free lock-up calendar tells you 180 days and moves on. This is the actual sentence the date above was computed from, so that if the words do not support the number, the number is wrong and the filing is one click away.

("Northland Securities"), we and they will not, subject to certain exceptions, during the period ending 180 days after the date of this prospectus offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of directly or indirectly, or enter into any swap or other arrangement that transfers to another, in whole or in part, any of 36 TABLE OF CONTENTS the economic consequences of ownership of shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock. All of our shares of Common Stock will be freely tradable after the expiration of the lock-up agreements, excluding any shares acquired by persons who may be deemed to be our affiliates.

Where the share count comes from

The prospectus never prints the number of shares coming free, and nothing in it lets the figure be derived. That is why this deal carries no flow math.

Shares outstanding after the offering4,091,636
Underwriters' over-allotment option230,250

Exceptions written into the lock-up (3)

Each of these is a route by which PARK shares can move before 2026-06-01. The 10b5-1 carve-out is the one worth reading twice: it lets insiders put a selling plan in place during the lock-up, so the first sales can be automatic and immediate rather than discretionary and later.

  • estate planning or family transfer
  • directed share program participants
  • option exercise or RSU settlement
estate planning or family transfer
…eached with an unrelated third party; (6) the purpose and the potential benefits to us of the transaction; (7) the impact of the transaction on a director's independence (in the event the related party is a director, an immediate family member of a director or an entity in which a director is a partner, shareholder or executive officer); (8) the availability of other sources for comparable products or services; (9) whether it is a single transaction or a series of ongoing, related transactions; (10) whether entering into the transaction would be consistent with our code of ethics and business conduct; and (11) any other information in the context of the transaction that would be material to investors in light of the circumstances of the particular transaction.
directed share program participants
Directed Share Program At our request, the underwriters have reserved in aggregate up to 10% of our shares of common stock offered by this prospectus for sale, at the initial public offering price, to certain individuals, including our directors, executive officers and employees, to the extent permitted under applicable laws and regulations in the United States and in various countries. For additional information reg…
option exercise or RSU settlement
Future sales of substantial numbers of shares of our Common Stock, including shares issued upon exercise of options or vesting of restricted stock, in the public market after this offering, or the anticipation of those sales, could adversely affect market prices of our Common Stock prevailing from time to time and could impair our ability to raise capital through sales of our equity securities. Upon completion of this offering, we will have outstanding 4,091,636 shares of Common Stock. All of the shares sold in this offering will be freely tradable without restriction under the Securities Act unless purchased by our "affiliates," as that term is defined in Rule 144 under the Securities Act.

What we could not establish

PARK is read but not publishable: the prospectus does not state how many shares come free. So there is no absorb-day figure on this page and no call, and there will not be one until the number exists in a filing.

The common case is a prospectus that says "substantially all" of the locked shares become eligible for sale without ever printing a count. The clause above is quoted in full so you can see that for yourself. An estimate presented with a filing link beside it would read as a filing figure, and that is worse than an admission — it is the one failure mode a reader cannot detect.

How this reading of PARK could be wrong

The lock-up period is restated 5 times in this prospectus. Issuers repeat the clause on the cover, in the summary, in the risk factors and in the underwriting section, and the wording is not always identical. The parser resolved them to one period; if a reader finds a restatement that disagrees, the quote above is the one it used.

The volume is a vendor's, not ours. PARK is not in our own price table, so average daily volume comes from yahoo-finance2 daily bars (symbol not in our price table). Vendor bars for recently listed symbols are the ones most likely to be wrong.

Only 20 sessions of volume history. This is a recent IPO, and early volume is dominated by the offering itself. An average over 20 sessions of a stock that has barely traded is the weakest input on the page, and absorb days inherits every bit of that weakness.

The parser can misread a filing. That is why every number here is printed next to the words it came from. Earlier versions of this parser read the underwriters' 30-day over-allotment window as a 30-day lock-up on five deals, and double-counted one issuer's share total because the offering summary appears on both the cover and in the summary section.

Also unlocking in 2026-06 (4)

Lock-ups cluster, because IPOs cluster: these priced in the same window as PARK and come free in the same month. Several heavy releases landing together is a different situation from one.

DealExpiryShares freeAbsorb days
WLTH
WEALTHFRONT CORP
2026-06-10124.8M54.1 sessions
LMRI
Lumexa Imaging Holdings, Inc.
2026-06-10——
ITHA
ITHAX Acquisition Corp III
2026-06-13——
ANDG
Andersen Group Inc.
2026-06-1598.3M251 sessions

Learn to read these clauses yourself

The flow arithmetic on this page — shares unlocking divided by average daily volume, and why the clause has to be read rather than assumed — taught step by step, free.

Lesson 6 →

Radar built 2026-11-07 from EDGAR full-text search over 424B4 filings · all 80 parsed lock-ups and the scoreboard · PARK's prospectus on EDGAR · what funds carried these companies at before listing