Zeefe Justin Matthew 4

What Happened
Justin Matthew Zeefe, a director of Swarmer, Inc. (SWMR), reported conversions of derivative securities on March 18, 2026. The filing shows acquisitions by conversion of 139,932 and 359,995 common shares (total 499,927 shares) and dispositions by conversion of 74,380 and 191,354 shares (total 265,734 shares). No cash prices or dollar values were reported for these conversion transactions. Net effect of the reported conversions is an increase of 234,193 common shares (499,927 acquired minus 265,734 disposed).

Key Details

• Transaction date: 2026-03-18 (filing dated 2026-03-18 — appears timely).
• Transaction type/code: Conversions of derivative securities (code C in the filing). No sale/market price listed (N/A).
• Conversion specifics: Series A-1 and Series A-4 preferred converted into common stock on a 1-for-1.8813 basis (footnotes F1 and F3).
• Ownership note: Some shares are directly held by Green Flag Fund I, L.P.; the reporting person is founder/general partner of Green Flag Ventures, LLC and may be deemed to share voting and dispositive power over those fund-held shares (footnote F2).
• Shares owned after the transactions: Not specified in the filing.

Context
These were conversions of preferred shares into common stock (derivative conversions), not open-market purchases or typical option exercises. Conversions often involve no cash changing hands and may be routine corporate capital-structure actions; the filing does not state that converted shares were sold on the open market. As always, conversions and transfers recorded on Form 4 are factual disclosures of insider holdings and do not by themselves indicate the insider’s view of the company.