Martell Frank 4

What Happened
Frank Martell, CEO of SmartRent, had 450,000 Restricted Stock Units (RSUs) convert into 450,000 shares on March 31, 2026 (reported on Form 4 filed April 1, 2026). Those 450,000 shares were then transferred to the Frank D. and Donna M. Martell Family Trust; the transfer is reported with $0 in proceeds (not an open‑market sale). The conversion/transfer is recorded as an exercise/conversion of a derivative (transaction code M).

Key Details

• Transaction date: 2026-03-31; Form 4 filed 2026-04-01 (appears timely).
• Acquired: 450,000 shares via RSU conversion (transaction code M).
• Disposed/Transferred: 450,000 shares to family trust at $0 (transaction code M; no cash proceeds).
• Footnotes:
  • F1: Each RSU converts to one share of Class A common stock.
  • F3: The filing notes the 450,000-share transfer to the Frank D. & Donna M. Martell Family Trust (co‑trustees: reporting person and spouse).
  • F4: These RSUs were part of a 1,800,000 RSU grant on June 16, 2025 vesting in four substantially equal quarterly installments (100% vesting by June 30, 2026).
  • F2: Filing also includes 1,470 shares acquired under the issuer’s 2021 Employee Stock Purchase Plan.
• Shares owned after transaction: the filing states holdings were adjusted to reflect the 450,000‑share transfer to the family trust; see the filed Form 4 for the exact post‑transaction total.

Context
This was not an open‑market sale. It reflects vested RSUs converting into common stock and an internal transfer to a family trust (commonly for estate or family planning). Transfers to trusts or family members are not necessarily an indicator of CEO buying or selling for investment reasons.