Jeldi Arun 4

What Happened

• Jeldi Arun, reported as a 10% owner of Velo3D (VELO), had restricted stock units (RSUs) convert/settle into 12,583 shares on February 15, 2026. The Form 4 reports the transaction as a derivative conversion (transaction code M) with a $0.00 per-share price — i.e., the shares were issued on vesting with no cash paid.
• This was not a sale; it reflects equity award vesting/settlement rather than an open-market purchase or sale.

Key Details

• Transaction date: February 15, 2026 (Form 4 filed February 18, 2026 — timely filing).
• Shares reported acquired: 12,583 shares (filing includes two derivative entries reflecting the conversion; the net result shown is 12,583 shares issued at $0).
• Price: $0.00 per share (RSU settlement for no consideration).
• Shares owned after transaction: not specified in the excerpt provided — see the full Form 4 for total holdings.
• Notable footnotes:
  • F1: All share figures reflect the company’s 1-for-15 reverse split effective July 28, 2025.
  • F2: Each RSU converts to one share upon settlement for no consideration.
  • F3: The RSUs vest 25% on Feb 15, 2026 (with the remaining 75% vesting quarterly over the next three years); the filing corrects an earlier error that listed the initial vesting date as Feb 15, 2025.

Context

• This filing documents an RSU vesting/settlement (derivative conversion). Such transactions are routine compensation events and do not by themselves signal insider buying or selling intent.
• Because the shares were issued at $0 as part of award vesting, there was no cash outlay by the reporting person; this is different from an exercise requiring payment or a cashless sale.