Isaacman Jared 4

What Happened
Jared Isaacman, a reported 10% owner of Shift4 Payments, effected a series of non‑market transactions on February 7, 2026 as part of a Transaction Agreement between Shift4 LLC, Isaacman and Rook Holdings Inc. Key moves included the conversion of 19,801,028 derivative securities into Class A common stock (the filing shows a disposition to the issuer at $0.00 for that conversion), plus exchanges/redemptions and cancellations tied to Rook’s LLC interests and Isaacman’s Class C common stock. Smaller grant/award and cancellation items recorded on the same date include 951,487; two sets of 85,911; and a derivative award of 423,296 shares. Several dispositions are described as cancellations or exchanges to the issuer rather than open‑market sales.

Key Details

• Transaction date: February 7, 2026; Form 4 filed February 10, 2026 (appears timely).
• Principal reported transactions: conversion of 19,801,028 derivative securities; various grants/awards and corresponding dispositions to the issuer of 951,487; 85,911 (x2); and a derivative acquisition of 423,296 shares. One conversion/disposition is shown at $0.00 per share (cancellation/no consideration).
• Holdings after transaction: the filing states the Reporting Person’s sole class of stock owned is Class A common stock (per footnote); securities held of record by Rook may be attributed to Isaacman because he is the sole stockholder of Rook.
• Notable footnotes: (i) Rook redeemed/exchanged its Shift4 LLC interests one‑for‑one for Class A common stock and cancelled corresponding Class B common stock; (ii) Isaacman exchanged Class C common stock one‑for‑one for Class A common stock; (iii) Isaacman received Series A Mandatory Convertible Preferred Stock in a private placement (convertible at holder’s option at one‑for‑0.9780; mandatory conversion May 1, 2028); (iv) some shares are held in a UTMA trust for which Isaacman disclaims beneficial ownership.
• Filing type: these are corporate restructuring/exchange and derivative conversion transactions, not open‑market buys or sales.

Context

• These transactions reflect internal corporate exchanges/redemptions and derivative conversions (converting LLC interests/Class C units into Class A shares and cancelling Class B shares), not a typical insider sale or open‑market purchase.
• For retail investors: exchanges and conversions like these are often corporate reorganization actions and do not necessarily indicate a personal buy/sell signal. Isaacman is reported as a 10% owner and control/beneficial‑ownership through Rook is noted in the filing.