PASCAL ANDREW S 4

What Happened

• Pascal Andrew S. (reported as a 10% owner; manager of DreamStreet Holdings, LLC and trustee of the Pascal Family Trust) had restricted/performance units convert/settle into Class A common stock on Feb 17, 2026. Two derivative settlements produced 375,000 and 208,334 shares (total 583,334 shares) issued at $0.00 per share. To cover tax withholding, 233,871 shares were surrendered at $0.49 per share (value reported $113,872) — the filing notes this was a withholding by the issuer, not an open‑market sale. On Feb 19, 2026, 349,463 shares were transferred in form (disposed and re-acquired) in connection with a change from direct ownership to a trust (beneficial ownership unchanged).

Key Details

• Transaction dates: Feb 17, 2026 (settlement/withholding); Feb 19, 2026 (ownership form transfer).
• Shares issued on settlement: 375,000 + 208,334 = 583,334 shares at $0.00 per share (issuance upon RSU/PSU settlement).
• Tax withholding: 233,871 shares withheld at $0.49 = $113,872 (footnote F2 clarifies this is issuer withholding, not a market sale).
• Trust transfer: 349,463 shares reported as disposed and re-acquired on Feb 19 (footnote F3 — transfer from direct ownership to a trust; beneficial ownership unchanged).
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note: F1 (shares issued upon RSU settlement), F2 (withholding for taxes), F3 (transfer to trust), F4 (reporting person’s roles), F8/F9/F10 describing original grants and vesting conditions for RSUs/PSUs.
• Timeliness: Reported on Feb 19, 2026 for Feb 17 transactions — appears timely (no late filing flag).

Context

• These were settlements of restricted/performance stock units (derivative conversions), not open-market purchases or opportunistic sales. The only "disposition" that reduced his share count was the issuer withholding shares to satisfy tax obligations (common in net-settlement of RSUs). The trust transfer changed the form of ownership but did not change beneficial ownership. As a 10% owner, Pascal’s filings reflect larger, structured compensation/ownership moves rather than routine small trades by non‑insiders.