Steel Excel Inc. 4

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).