Steel Excel Inc. 4
4 · SPRUCE POWER HOLDING CORP · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
Spruce Power (SPRU) 10% Owner Steel Partners Buys Shares
What Happened
- Steel Partners Holdings L.P., a reported >10% owner of Spruce Power Holding Corp (SPRU), made open‑market purchases of company stock on March 9, 10 and 11, 2026.
- Trades: 6,039 shares @ $3.60 on 3/9 (≈ $21,740); 11,823 shares @ $4.13 on 3/10 (≈ $48,792); 6,211 shares @ $4.15 on 3/11 (≈ $25,774). Total purchased = 24,073 shares for ≈ $96,306.
- These were purchases (Form 4 code P), which are generally interpreted as an accumulation of shares (a buying signal) rather than sales.
Key Details
- Transaction dates & prices: 2026-03-09 @ $3.60; 2026-03-10 @ $4.13; 2026-03-11 @ $4.15.
- Total shares bought: 24,073; total value: ≈ $96,306.
- Shares owned after transaction: Not specified in the excerpt of the Form 4 provided.
- Filing: Form 4 filed 2026-03-11 covering trades on 3/9–3/11 — appears timely (no late filing indicated).
- Notable footnotes: The filing is joint among multiple related entities (see F1/F2). Steel Partners entities disclaim beneficial ownership except to the extent of pecuniary interest; the shares were reported as owned directly by a Steel Connect Sub entity.
Context
- This activity is by a large institutional/insider group (a Section 13(d) group/10% owner), not an individual company executive — institutional buys can signal interest but do not convey management sentiment.
- Transactions were straightforward purchases (no options exercised, awards, gifts, or tax‑withholding involved).
Insider Transaction Report
Form 4
STEEL PARTNERS HOLDINGS L.P.
10% Owner
Transactions
- Purchase
Common Stock, par value $0.0001 per share
[F1][F2]2026-03-09$3.60/sh+6,039$21,740→ 3,223,565 total(indirect: By LLC) - Purchase
Common Stock, par value $0.0001 per share
[F1][F2]2026-03-10$4.13/sh+11,823$48,792→ 3,235,388 total(indirect: By LLC) - Purchase
Common Stock, par value $0.0001 per share
[F1][F2]2026-03-11$4.15/sh+6,211$25,774→ 3,241,599 total(indirect: By LLC)
Footnotes (2)
- [F1]This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel"), Steel Connect LLC ("Steel Connect") and Steel Connect Sub LLC ("Steel Connect Sub") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of common stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein.
- [F2]Represents securities owned directly by Steel Connect Sub. Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.