Jeldi Arun 4

What Happened

• Jeldi Arun (reported as a 10% owner via Arrayed Notes Acquisition Corp./Arrayed Additive, Inc.) converted a Senior Secured Convertible Promissory Note into common stock of Velo3D. On March 4, 2026 Arrayed converted $5.0 million of principal (plus accrued interest) of the January 7, 2025 note into 394,517 shares of Velo3D common stock.
• The conversion is reported at an effective price of $16.38 per share, valuing the acquired shares at approximately $6,462,188. The filing shows derivative-conversion reporting lines consistent with the note conversion mechanics described in the footnotes.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (timely).
• Conversion price / reported value: $16.38 per share; total ≈ $6,462,188 for 394,517 shares.
• Shares owned after the transaction: not specified in the provided filing extract.
• Footnotes: The shares were issued to Arrayed Notes Acquisition Corp., a wholly owned subsidiary of Arrayed Additive, Inc.; Arun is CEO/President and sole equity holder of Arrayed Additive and CEO of Arrayed. The conversion was of the January 7, 2025 senior secured convertible promissory note (principal $5,000,000) including accrued interest.
• The filing contains additional derivative reporting lines reflecting the note principal and conversion mechanics; the core economic effect reported is the conversion of the $5M note into 394,517 shares.

Context

• This was a conversion of a debt instrument into equity (a derivative conversion), not an open-market buy or sale. Conversions like this increase insider-held shares without a market purchase and are generally a financing/accounting event rather than a classic insider buy/sell signal.
• As a 10% owner using an affiliated subsidiary to hold the note, this is effectively institutional-level activity tied to a financing arrangement rather than routine executive trading.