THORN WRAY T 4

What Happened

• Thorn Wray, a director of DevvStream Corp. (DEVS), acquired 2,526,405 common shares on 2026-03-13 through conversion of a derivative security (convertible promissory notes). The conversion price was $0.9026 per share, for an aggregate value of $2,280,333.
• The filing shows two matching entries: the derivative was disposed (extinguished) and common shares were acquired as the conversion result — i.e., debt held by an entity was converted into equity rather than an open-market purchase.

Key Details

• Transaction date: 2026-03-13; Form 4 filed: 2026-03-20.
• Shares converted/acquired: 2,526,405 at $0.9026 per share; total value ≈ $2,280,333.
• Ownership after transaction: Not specified in the provided filing.
• Footnote: Focus Impact Partners, LLC (FIP) loaned funds to the issuer via two convertible promissory notes and entered a Conversion Agreement to convert amounts owed into these shares at $0.9026/share. FIP is controlled by Carl Stanton and Thorn Wray (the reporting person), indicating this conversion was of debt held by an entity they control.
• Transaction type: Conversion of debt/derivative into common stock (derivative security disposed + shares acquired).

Context

• This is an acquisition resulting from converting outstanding debt into equity — a common restructuring move — not an open-market buy that signals a trading preference.
• For retail investors, note that such conversions increase the company’s outstanding share count and reflect creditor-to-equity holder changes rather than new cash invested in the company.