Abrams David C 4

What Happened David C. Abrams, a reported 10% owner of ContextLogic Holdings, Inc. (LOGC), reported purchases of 1,758,794 shares on February 26, 2026 at $7.00 per share, totaling $12,311,558. The transaction is coded as a purchase (P) — an acquisition rather than a sale.

Key Details

• Transaction date and terms: Feb 26, 2026 — 1,758,794 shares acquired at $7.00 each (total $12,311,558).
• Shares owned after transaction: Beneficial ownership reported as 18,269,534 shares across the Abrams-related funds.
• Breakdown (per filing footnote): ACP I — 578,862 shares (including 120,126 purchased on Feb 26); ACP II — 7,897,244 shares (including 1,638,668 purchased on Feb 26); Riva V — 5,262,976 shares; Riva VI — 4,530,452 shares.
• Filing timeliness: Report filed on Feb 26, 2026 (same day as report date) — appears timely.
• Reporting structure: Abrams is the managing member of the entities that control the listed funds and may be deemed to share voting/dispositive power; he disclaims direct beneficial ownership except to the extent of his pecuniary interest (see footnote F2).
• Transaction type: Reported as open-market or private purchase (Form 4 code P).

Context

• This is institutional/investor-level buying through Abrams-affiliated funds (not a typical executive salary/option exercise). Purchases can be interpreted by investors as a positive sign of conviction but do not prove future company performance.