ICAHN CARL C 4

What Happened

• Carl C. Icahn (reported as a 10% owner through related entities) was the primary reporting person. He disposed of 39,277 pre-merger shares and received a total of 13,065,885 shares of Viskase common stock in connection with the merger of Viskase Companies, Inc. into the combined company (reported as acquisitions on 2026-03-25 and 2026-03-26). No dollar prices were reported (consideration was an exchange in the Merger). Net reported change = +13,026,608 shares (13,065,885 acquired minus 39,277 disposed).

Key Details

• Transaction dates: 2026-03-25 (disposition of 39,277 shares; acquisition of 5,658,396 shares) and 2026-03-26 (acquisition of 7,407,489 shares). Prices: N/A (shares issued/received as merger consideration).
• Filing: Form 4 filed 2026-03-27 (appears timely relative to the reported transaction dates).
• Corporate actions noted: Issuer effected a 1-for-100 reverse stock split on March 25, 2026 (footnote F2). Acquisitions were in exchange for pre-merger Viskase Companies, Inc. shares (footnotes F1, F3).
• Ownership/reporting structure: The Form 4 is filed on behalf of Mr. Icahn and related entities (Icahn Enterprises Holdings L.P., Icahn Enterprises G.P. Inc., and affiliated entities). Those entities disclaim beneficial ownership except to the extent of any pecuniary interest (footnotes F4–F6).
• Post-transaction total beneficial ownership: The Form 4 did not state a consolidated "shares owned after" total for the reporting persons in the summary provided here; the filing shows the detailed exchange and resulting share counts above.

Context

• These were not open-market purchases but share issuances/exchanges as merger consideration — common in corporate combinations and not the same signal as an insider buying on the open market.
• As a 10% owner acting through affiliated entities, this reflects institutional/strategic ownership and corporate transaction mechanics rather than routine insider trading for personal liquidity.