Kalbfleisch Kurt L. 4
4 · Sphere 3D Corp. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Sphere 3D (ANY) CEO/CFO Kurt Kalbfleisch Exercises RSUs and Sells Shares
What Happened
Kurt L. Kalbfleisch, Sphere 3D Corp. (ANY) CEO and CFO, had 18,358 restricted stock units (RSUs convert/vest) settle on March 12, 2026. To satisfy tax withholding tied to that vesting, he sold 9,800 shares in an open market transaction on March 13, 2026 at $1.59 per share for proceeds of $15,582. The remaining 8,558 shares from this vesting were retained (18,358 vested less 9,800 sold).
Key Details
- Transaction dates: RSU settlement/derivative conversion on 2026-03-12; open-market sale on 2026-03-13.
- Sale price and value: 9,800 shares sold at $1.59, total proceeds $15,582.
- Shares retained from this vesting: 18,358 vested − 9,800 sold = 8,558 shares (from these specific vested RSUs).
- Footnotes of note:
- F1: Each RSU converts to one common share upon settlement.
- F2: The sale was to satisfy issuer tax-withholding obligations (a sell-to-cover).
- F3: Share balances reflect a 1-for-10 reverse split effective Feb 9, 2026.
- F4/F5: The reported RSU activity reflects multiple grant tranches and vesting schedules (details include prior vesting on 12/31/2025 and 3/1/2026 and additional outstanding awards with staggered vesting into 2027).
- Filing: Report filed 2026-03-13 for transactions on 3/12–3/13; no late filing flag noted.
Context
This was an RSU settlement with a routine sell-to-cover for tax withholding, not a discretionary open‑market sale driven by new purchases. Derivative code "M" here indicates conversion/settlement of RSUs into common shares; the immediate sale related to withholding is common and does not necessarily indicate the insider's market view. Purchases (which can be more informative) were not reported in this filing.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-12+18,358→ 74,255 total - Sale
Common Stock
[F2][F3]2026-03-13$1.59/sh−9,800$15,582→ 64,455 total - Exercise/Conversion
Restricted Stock Unit (RSU)
[F1][F4][F5]2026-03-12−18,358→ 229,297 total→ Common Stock (18,358 underlying)
- 215(indirect: By Daughter)
Common Stock
[F3] - 215(indirect: By Son)
Common Stock
[F3]
Footnotes (5)
- [F1]Each RSU represents a contingent right to receive one share of Sphere 3D Corp. common stock.
- [F2]This transaction represents the sale of shares by the reporting person to satisfy the issuer's tax withholding obligations in connection with the release of vested RSUs on March 12, 2026.
- [F3]The common share balance has been adjusted to reflect the issuer's 1 for 10 reverse stock split effective February 9, 2026.
- [F4]8,983 shares vested on December 31, 2025 and 9,375 shares vested on March 1, 2026.
- [F5]The RSUs reported under Column 9 include four awards. The underlying outstanding shares and vesting schedules are as follows: (i) 1,172 shares vest on 3/31/2026; (ii) 31,250 outstanding shares of which 7,813 vests on March 31, 2026 and June 30, 2026 and 7,812 vests on September 30, 2026 and Dec 31, 2026; (iii) 46,875 shares outstanding of which 9,375 shares vest quarterly from June 1, 2026 until June 1, 2027; and (iv) 150,000 shares outstanding which vest in full on March 4, 2027.