USBC Director William Owens Receives 120,000-Share Option Award

What Happened William Arthur Owens, a director of USBC, Inc. (USBC), was granted an option to purchase 120,000 shares of the company's common stock on August 12, 2026. The Form 4 reports the transaction as an award/derivative (code A) with a reported price/value of $0.00 — the grant itself creates a future right to acquire shares subject to vesting rather than an immediate cash purchase or sale.

Key Details

• Transaction date: August 12, 2026; Form 4 filed August 14, 2026 (timely).
• Transaction type: Option grant / award (derivative); reported price $0.00 on the form.
• Vesting: 10,000 shares vest on September 30, 2026, then 11 quarterly installments of 10,000 shares each through June 30, 2029 (per footnote).
• Shares owned after transaction: Not specified in the provided filing details.
• Notable footnotes: F1 describes the option grant and vesting schedule under the 2021 Equity Incentive Plan; F2 notes a 1-for-40 reverse stock split effective Feb 19, 2025 (amounts reflect post-split shares).

Context This was a director equity award (an option grant), not an open-market buy or sale. Such grants are commonly used to align directors with shareholder interests; they do not create immediate stock ownership until options vest and are exercised. The Form 4 shows $0.00 for the reported value of the derivative grant—this reflects how the award is reported on the form, not a cash transfer.