Situational Awareness LP 4

What Happened
Situational Awareness LP (reported as a 10% owner) exercised pre-funded warrants on 2026-06-30 to acquire 3,700,000 shares of SharonAI Holdings Inc. (SHAZ). The warrants were exercised at $0.00 per share (reported aggregate value $370). The filing also records the corresponding disposition of the derivative instrument (the warrants) as part of the exercise.

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-02 (appears timely, within the typical 2-business-day window).
• Shares acquired: 3,700,000 common shares; exercise price reported $0.00; aggregate reported amount $370.
• Derivative disposed: 3,700,000 (the exercised pre-funded warrants).
• Shares owned after transaction: not specified in the Form 4.
• Footnotes: F1 explains the filing was made by SALP along with affiliated reporting persons (SAF AI GP LP, Situational Awareness LLC, the Fund, Leopold Aschenbrenner and Carl Shulman); these affiliates may be deemed to beneficially own securities only to the extent of pecuniary interests. F2 notes the pre-funded warrants have no expiration, are exercisable at any time, and contain a 19.99% ownership limitation unless shareholder approval removes it.
• Filing remark: SALP filed on behalf of the group; they jointly filed but disclaim being a group under Rule 13d-5(b).

Context
This was an exercise of pre-funded warrants (a conversion of a derivative into common stock), not an open-market cash purchase. Because the exercise price is $0.00, no cash payment was required at exercise; the transaction represents a change in the form of ownership (warrants → shares). As a 10% institutional holder and not an individual executive trade, this is institutional activity rather than insider executive buying/selling for personal liquidity.