Potashnick Robert 4

What Happened

• Robert Potashnick, Interim Chief Financial Officer of Envoy Medical (COCH), reported purchases on 2026-02-12. He purchased 212,500 shares at $0.40 each for a cash outlay of $85,000. In addition, the filing shows acquisition of 127,500 and 212,500 shares as derivative securities at a $0.00 price (total 340,000 derivative shares) on the same date.
• The $85,000 cash purchase is a straight buy; the derivative acquisitions are non-cash and reflect issuance or conversion of warrants/options or similar instruments (see footnotes below). Purchases are typically viewed as more informative than routine sales, but the filing does not state any motivation.

Key Details

• Transaction date: February 12, 2026. Form 4 filed: February 17, 2026 (check filing for timeliness flag).
• Cash purchase: 212,500 shares @ $0.40 = $85,000.
• Derivative acquisitions: 127,500 shares and 212,500 shares @ $0.00 (listed as derivative / non-cash acquisitions).
• Shares owned after transaction: Not specified in the information you provided (check the full Form 4 for post-transaction holdings).
• Footnotes in the filing:
  • F1: Options to purchase 3,750 shares vest 2/5/2027; 11,250 shares vest pro rata on the 5th of each month for 36 months thereafter.
  • F2: Some securities exercisable only upon shareholder approval to issue Class A common stock underlying the warrants.
  • F3: Series A-1 Warrants expire either two years from initial exercise or 30 days after the company announces submission of a Premarket Approval Application to the FDA for its Acclaim CI Device.
  • F4: Series A-2 Warrants expire either five years from initial exercise or 30 days after the company announces FDA approval for its Acclaim CI Device.

Context

• The filing shows both a straightforward open-market/private purchase (cash) and non-cash derivative acquisitions. Derivative entries generally reflect issuance, conversion, or similar transactions involving warrants/options; they are not necessarily immediate stock sales.
• Form 4s are generally due within two business days of the transaction—this filing was dated Feb 17 for Feb 12 transactions; check the full filing for any late-filing designation ("L") and related explanations.
• As always, these filings show transactions by insiders but do not explain intent or predict company performance.