Baker Eric Howard 4

What Happened

Eric Baker (Founder, Chairman and Chief Executive Officer; 10% owner) reported conversions of derivative securities on March 17, 2026. Per the filing, 55,048 shares of Class A common stock were acquired through conversion of Series M redeemable preferred stock (price N/A). The filing also reports a related conversion showing a disposition of 1,000 shares at $0.00. The conversions were automatic under the Issuer’s Certificate of Designation, so no cash purchase price is reported.

Key Details

• Transaction date: 2026-03-17; Form 4 filed: 2026-03-19 (timely filing)
• Acquired: 55,048 shares via conversion (price: N/A)
• Disposed: 1,000 shares via conversion reported at $0.00 (derivative)
• Shares owned after transaction: not specified in this filing
• Footnote: F1 — Series M redeemable preferred automatically converted into Class A common per the Certificate of Designation
• Insider status: 10% owner; Founder, Chairman and CEO (listed in remarks)

Context

This was a conversion of preferred shares into common stock (a non‑cash, corporate action) rather than an open‑market purchase or sale. Such automatic conversions reflect capital-structure mechanics and are not direct indicators of a CEO buying or selling stock for investment reasons.