FRIEDBERG DANIEL M. 4

What Happened
Daniel M. Friedberg, a 10% owner and a director designee associated with 325 Capital, was granted 95,238 shares of MultiSensor AI Holdings, Inc. on 2026-03-31. The Form 4 reports the grant as an award/acquisition (code A) with an acquisition price of $0 — indicating an equity award rather than a market purchase.

Key Details

• Transaction date: 2026-03-31; Form 4 filed: 2026-04-02 (appears timely for Section 16 reporting).
• Transaction type/code: Award / Acquisition (A). Reported price: $0.00.
• Shares granted: 95,238. Shares owned after transaction: not specified in the filing.
• Filing is joint: reported by 325 Capital Master Fund LP, 325 Capital GP, 325 Capital LLC, Michael Braner, Daniel Friedberg and Anil Shrivastava (see footnotes).
• Notable footnotes: Friedberg is a director designee for 325; equity awards to him are to be held on, transferred to, or the proceeds remitted to 325 or its affiliates (F1–F4). Reporting persons disclaim beneficial ownership except to extent of pecuniary interest.
• Transaction implication: award/grant reported — not an open‑market purchase or sale.

Context
Because the award is tied to 325 Capital relationships, this grant appears to reflect institutional alignment via 325 rather than a personal cash purchase by Friedberg. The $0 acquisition price and footnotes indicate the shares were issued as compensation/award and may be held for or transferred to 325 or related accounts. No sale or exercise activity was reported in this filing.