Kaufman Daniel Louis 4

What Happened

• Kaufman Daniel Louis, a 10% owner of BranchOut Food Inc. (BOF), converted $500,000 of principal under a 12% Senior Secured Convertible Promissory Note into 659,457 common shares. The conversion price was $0.76 per share, resulting in the issuance/acquisition of 659,457 shares on January 28, 2026. The filing shows the derivative instrument was also reported as disposed/terminated as part of the conversion.

Key Details

• Transaction date: 2026-01-28
• Conversion price: $0.76 per share
• Shares issued/received: 659,457 (total value of converted principal = $500,000)
• Derivative disposition: The convertible promissory note (derivative) was converted/terminated (reported as disposed with N/A price)
• Remaining indebtedness: After this conversion, $2,900,000 of principal plus accrued interest remains outstanding under the Note (per footnote)
• Filing timeliness: Form 4 filed 2026-01-29 for a 2026-01-28 transaction (not shown as late)
• Shares owned after transaction: Not disclosed in the provided filing excerpt

Context

• This was a debt-to-equity conversion (convertible note conversion), not a typical open-market purchase or option cashless exercise. For a 10% owner, these conversions reflect financing/credit arrangements being settled in shares rather than routine buy/sell trading by an executive. The filing is factual and does not indicate Kaufman's motivations.