MOBLEY WILLIAM A JR 4
4 · FreeCast, Inc. · Filed Apr 21, 2026
Research Summary
AI-generated summary of this filing
FreeCast (CAST) CEO William Mobley Sells 506,250 Shares
What Happened
- William A. Mobley Jr., CEO of FreeCast (and controller of Nextelligence, Inc.), sold 506,250 FreeCast shares in open-market transactions on April 17, 2026 for approximately $3.30 million (87,500 shares at $4, 200,000 shares at $6, 218,750 shares at $8).
- On April 20, 2026 Nextelligence (which Mobley controls) delivered written notice to convert outstanding debt under a renewed Revolving Convertible Promissory Note into equity, resulting in the acquisition of 484,354 FreeCast shares. The conversions consisted of: $1,600,000 converted into 455,841 shares at $3.51 and $114,052 converted into 28,513 shares at $4 (total debt converted $1,714,052).
Key Details
- Dates & prices: Sale 4/17/2026 — 87,500 @ $4, 200,000 @ $6, 218,750 @ $8 (total proceeds ~$3.30M). Conversion 4/20/2026 — 455,841 shares @ $3.51 and 28,513 shares @ $4 (total 484,354 shares).
- Transaction types: S = open-market sale (Mobley); C = conversion of debt to equity (Nextelligence).
- Beneficial control: Mobley is an officer, sole director, majority shareholder and has voting/dispositive control of Nextelligence (F2) — conversions were effected by Nextelligence.
- Post-transaction convertible position: As of 4/21/2026, outstanding principal plus accrued interest under the note is $3,562,012, convertible into 1,149,037 shares at a $3.10 conversion price (per filing).
- Note terms: Renewal Revolving Convertible Promissory Note dated 4/20/2026 matures 6/30/2027; conversion feature available during the period; conversion price is equal to the Nasdaq closing price on the most recent trading day prior to conversion notice (F3–F6).
- Shares owned after transaction: Not specified in the provided filing excerpt — see the full Form 4 for aggregate beneficial ownership.
- Filing timeliness: Form 4 was filed 4/21/2026 for transactions on 4/17 and 4/20; no late-filing flag is indicated.
Context
- The April 20 activity was a debt-for-equity conversion by Nextelligence under a renewed convertible note (not a cash purchase). Such conversions reduce the company’s outstanding debt and increase outstanding shares; they reflect creditor-to-equity conversions rather than a direct vote of confidence or personal cash purchase by the insider.
- Because Mobley controls Nextelligence, the conversion is reported on his Form 4 as related-party activity. As always, these filings are factual records of transactions and do not by themselves indicate management’s future view of the stock.
Insider Transaction Report
Form 4
FreeCast, Inc.CAST
MOBLEY WILLIAM A JR
DirectorChief Executive Officer10% Owner
Transactions
- Sale
Class A Common Stock
[F1][F2]2026-04-17−506,250→ 10,113,000 total(indirect: By Nextelligence, Inc.) - Conversion
Class A Common Stock
[F5][F2]2026-04-20+484,354→ 10,597,354 total(indirect: By Nextelligence, Inc.) - Conversion
Convertible Promissory Note
[F5][F7][F2]2026-04-20(indirect: By Nextelligence, Inc.)From: 2025-11-21Exp: 2026-06-30→ Class A common stock (484,354 underlying) - Other
Renewal Revolving Convertible Promissory Note
[F3][F8][F5][F4][F6][F2]2026-04-20(indirect: By Nextelligence, Inc.)From: 2026-04-20Exp: 2027-06-30→ Class A common stock (1,149,037 underlying)
Footnotes (8)
- [F1]Sold 87,500 shares at $4/share; 200,000 shares at $6/share; and 218,750 shares at $8/share.
- [F2]William A. Mobley, Jr. is an officer, sole director, majority shareholder and holds voting and dispositive control of Nextelligence, Inc.
- [F3]On April 20, 2026, FreeCast and Nextelligence entered into a note that renewed and modified that certain Revolving Convertible Promissory Note between FreeCast and Nextelligence dated November 21, 2025 in the principal amount of up to $5,000,000 (the "Former Note") by extending the maturity date and changing the payment terms with regards to the conversion price of the Former Note only. By renewing the Former Note, the note superseded in its entirety, and was substituted for and in lieu of, the Former Note, and the Former Note was cancelled.
- [F4]Outstanding principal and interest is convertible into shares of FreeCast Class A common stock, par value $0.0001 per share, at a conversion price equal to the closing price of a share on the Nasdaq Global Market on the most recent trading day prior to the date Nextelligence delivers written notice to FreeCast of its election to convert some or all of the outstanding debt.
- [F5]In connection with Nextelligence and FreeCast entering into the renewal note, Nextelligence delivered written notice to FreeCast on April 20, 2026, of its election to convert: (i) $1,600,000 in outstanding principal into 455,841 shares, based on a conversion price of $3.51; and (ii) $114,052 into 28,513 shares based on a conversion price of $4. As of April 21, 2026, after the above conversions, the aggregate outstanding principal balance plus accrued interest under the note is $3,562,012, which is convertible into 1,149,037 shares based on a conversion price of $3.10.
- [F6]The Renewal Revolving Convertible Promissory Note was entered into on April 20, 2026, and it matures on June 30, 2027. The conversion feature is available any time during that period.
- [F7]See column 2 as this transaction is a conversion.
- [F8]See column 8.