Thieneman Kenneth Dale 4

What Happened

• Kenneth Dale Thieneman, a director of Velo3D, converted/exercised 3,188 derivative units on March 27, 2026. The Form 4 shows an acquisition of 3,188 shares reported at $10.00 per share (total $31,880) and a simultaneous disposition/conversion entry for 3,188 derivative units at $0.
• This was a conversion/exercise of derivative awards (code M) rather than an open-market buy or a sale to a third party. The filing’s footnotes indicate these were Restricted Stock Units (RSUs) that settle into common shares.

Key Details

• Transaction date: 2026-03-27; Form 4 filed: 2026-03-30 (appears timely).
• Reported acquisition: 3,188 shares at $10.00 each — total $31,880.
• Reported derivative disposition/conversion: 3,188 units at $0 (reflects RSU settlement).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 — each RSU converts to one share upon settlement for no consideration; F2 — RSUs vest 25% quarterly (June 27, 2025; Sept 27, 2025; Dec 27, 2025; Mar 27, 2026; Jun 27, 2026) subject to continued service.

Context

• The filing shows both an acquisition line and a $0 derivative conversion line — commonly seen when RSUs or other derivatives vest/settle into stock. According to the footnote, these RSUs settle into shares for no consideration, so the conversion entry at $0 reflects that settlement; the acquisition line reports the shares received. No sale of the underlying shares is reported here, so this does not represent an exit or a market sale by the insider.
• For retail investors, vesting/settlement of RSUs is often routine compensation-related activity and does not, by itself, indicate a buying or selling signal.