MOBLEY WILLIAM A JR 4

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.