Daly Brian Frederick 4

What Happened Brian Daly (listed as Daly Brian Frederick), a director of RRE Ventures Acquisition Corp. (RREV), received three awards of derivative equity. On 2026-03-25 he was granted 75,000 shares (priced $0.00), on 2026-03-28 he was granted 30,000 shares (priced $0.00), and on 2026-05-01 he was granted 250,000 shares at $1.00 each (total value $250,000). These were reported as awards/grants (code A) and treated as derivative securities rather than open-market purchases or sales.

Key Details

• Transaction dates and prices:
  • 2026-03-25: 75,000 shares @ $0.00 (award/derivative)
  • 2026-03-28: 30,000 shares @ $0.00 (award/derivative)
  • 2026-05-01: 250,000 shares @ $1.00 (award/derivative) — $250,000 total
• Total shares granted in this filing: 355,000
• Shares owned after transaction: Not specified in the provided filing data.
• Footnotes of note:
  • F1: The Class B Ordinary Shares automatically convert one-for-one into Class A Ordinary Shares at the issuer’s initial business combination (or earlier at the holder’s option) and have no expiration date.
  • F2: Some securities were previously reported on a Form 3 by the reporting person.
  • F3: Private placement warrants (if applicable) become exercisable 30 days after the issuer’s initial business combination and expire five years after that combination (or earlier upon liquidation).
• Filing timeliness: The Form 4 was filed on 2026-05-05 while the transactions occurred on 2026-03-25, 2026-03-28 and 2026-05-01, indicating late reporting for the March and May transactions.

Context

• These are awards/derivative grants tied to the SPAC structure (Class B ordinary shares that convert at a business combination), not open-market purchases or immediate sales. As derivative awards, they typically vest or convert under specific corporate events rather than reflecting an immediate market trade.
• Awards are common for directors as compensation or alignment with shareholders; they are informational rather than direct market sentiment indicators.