Alder Richard M. 4

What Happened
Richard M. Alder, Chief Operations Officer of Elauwit Connection, Inc. (ELWT), was granted 592 restricted stock units (RSUs) on 2026-01-28. The award shows an acquisition price of $0.00 (total value $0 at grant) and is reported as a derivative award that will convert one-for-one into common stock.

Key Details

• Transaction date: 2026-01-28; Form 4 filed: 2026-02-05 (filed after the transaction date).
• Transaction type: Award/Grant (code A); 592 RSUs @ $0.00 (derivative instrument).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnote: The RSUs were granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan, convert 1:1 to common stock, and (unless the award agreement says otherwise) vest on the first anniversary of the grant date. The grant was made in a transaction exempt under Rule 16b-3.
• Timeliness: The Form 4 was filed more than a few business days after the grant date, indicating a late filing relative to the usual two-business-day Form 4 deadline.

Context
RSUs are deferred equity awards that do not represent immediately tradable shares; they convert into common stock only if vesting conditions are met. An RSU grant is not an open-market purchase or sale and does not by itself indicate immediate buying/selling sentiment—it's a form of compensation commonly used to retain executives. The Rule 16b-3 exemption means the grant is structured to comply with insider-trading short-swing profit rules.