Vorsatz Mark Lawrence 4

What Happened
Mark Lawrence Vorsatz, Chairman and CEO of Andersen Group Inc. (ANDG), on Feb. 2, 2026, made a gift transfer of 200,000 Class X Aggregator Units (reported as derivative securities). The Form 4 shows both a 200,000-unit disposition and a 200,000-unit acquisition, indicating a transfer from his direct holdings into a trust he controls. No cash changed hands; price is reported as N/A.

Key Details

• Transaction date: 2026-02-02; Form 4 filed: 2026-02-04 (timely filing).
• Transaction code: G (Gift); security: Class X Aggregator Units (derivative/exchangeable).
• Units transferred: 200,000; price per unit: N/A (gift).
• Holdings after transaction (per footnote F4): 1,400,000 Class X units held by entities he controls (indirectly exchangeable for 1,400,000 Class A shares) plus 600,000 Class X units held by immediate family members (indirectly exchangeable for 600,000 Class A shares) — total 2,000,000 exchangeable units; reporting person disclaims beneficial ownership except for pecuniary interest.
• Notable footnotes: F1 explains Class X units are exchangeable one-for-one for Class A common stock (subject to adjustments, lock-ups, vesting, and cancellation of accompanying Class B shares); F2 confirms this transfer was to a trust he controls and remains subject to issuer lock-up restrictions; F3 describes vesting schedule applicable to some units.

Context
Class X Aggregator Units are derivative, exchangeable for Class A shares under the Aggregator LLC agreement; upon exchange accompanying Class B shares are automatically cancelled and Class B shares do not represent economic interest (F1). Gift transfers to family trusts or controlled trusts are common estate/planning moves and do not necessarily indicate the insider’s market sentiment.