JW Partners, LP 4

What Happened

• JW Asset Management, LLC (a reported 10% owner acting with related entities and Jason G. Wild) recorded derivative transactions on June 24, 2026 that effectively replaced/modified options covering 1,200,000 common shares (200,000 + 1,000,000). The Form 4 shows dispositions to the issuer and corresponding grants/acquisitions of derivative securities with no per-share trade price listed (N/A) because these are option modifications, not open-market trades.
• Per the filing footnotes, at the issuer’s June 24, 2025 AGM shareholders approved lowering the exercise price of certain employee options to the five-day VWAP ($0.26). The required 12-month service condition was satisfied on June 24, 2026, so the options’ exercise price was automatically changed to $0.26.

Key Details

• Transaction date: June 24, 2026; Form 4 filed June 25, 2026 (timely).
• Reported derivative adjustments: 200,000 and 1,000,000 optioned shares (total 1,200,000) shown as dispositions to issuer (D) and grants/acquisitions (A) with price listed as N/A (derivative modification).
• New exercise price (Market Price): $0.26 per common share, set by 5-day VWAP preceding June 24, 2025.
• Shares owned after transaction: not specified in the excerpt provided.
• Notable footnotes: F1 — filing made on behalf of JW Asset Management, JW Partners LP, JW GP, LLC and Jason G. Wild; F2/F3 — amendment approved 6/24/2025 and service requirement satisfied 6/24/2026.
• Filing timeliness: appears timely (filed the next day).

Context

• These entries are derivative adjustments (option repricing/modification), not purchases or sales of underlying common stock. No immediate exercise, sale, or cash proceeds are shown in this Form 4 excerpt.
• The filing is from a 10% owner/related-party group (institutional/insider group), not an ordinary open-market trade by an independent investor.