Steel Excel Inc. 4

What Happened

• Steel Partners Holdings L.P., part of a group of related Steel entities that collectively own more than 10% of Spruce Power (SPRU), executed open-market purchases of SPRU common stock. The filing reports three buys: 10,463 shares at $4.09 ($42,843) on 2026-04-15; 141 shares at $4.10 ($578) on 2026-04-16; and 3,640 shares at $4.03 ($14,679) on 2026-04-17. Total acquired = 14,244 shares for ~$58,100. These were purchases (buying stock), which are generally more informative to investors than routine sales.

Key Details

• Transaction dates & prices:
  • 2026-04-15: 10,463 shares @ $4.09 = $42,843
  • 2026-04-16: 141 shares @ $4.10 = $578
  • 2026-04-17: 3,640 shares @ $4.03 = $14,679
• Total purchased: 14,244 shares for approximately $58,100; price range $4.03–$4.10.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing date: Form 4 filed 2026-04-17 reporting trades from Apr 15–17, 2026; filing appears timely based on the dates shown.
• Footnotes: Joint filing by multiple Steel entities (Steel Partners Holdings L.P., Steel Partners Holdings GP Inc., SPH Group LLC and others). Footnote explains the ownership chain (Steel Connect Sub owns the reported shares directly; other Steel entities may be deemed to beneficially own them) and that reporting persons disclaim beneficial ownership except for pecuniary interest.

Context

• This is institutional insider activity by a >10% owner (a group of related entities), not an executive/board trade; such purchases reflect activity by an investment/holding group rather than individual insider sentiment.
• Transactions were open-market purchases (code P); no options, awards, gifts, or tax withholding reported in the provided details.