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Fold Holdings, Inc.·4

May 5, 9:30 PM ET

Reeves William Brian Poppic 4

Research Summary

AI-generated summary

Updated

Fold (FLD) CEO William Reeves Sells 5,537 Shares to Cover Taxes

What Happened

  • William Reeves, CEO of Fold Holdings (FLD), had restricted stock units (RSUs) convert into common stock on May 1, 2026 (two conversions: 1,074 and 11,549 shares). Those converted shares were then used/disposed as part of tax withholding related to the RSU vesting. On May 4, 2026 Reeves sold 5,537 shares in an open market transaction at $1.42 per share, generating $7,874 in proceeds. The disposals tied to the May 1 conversions are reported with no per-share price/value (N/A) because they reflect share withholding/conversion rather than an open-market sale.
  • These transactions are routine sell-to-cover actions to satisfy tax withholding obligations connected to RSU settlement and are not reported as discretionary sales by Mr. Reeves.

Key Details

  • Transaction dates and prices:
    • May 1, 2026: RSU conversions/exercises reported for 1,074 and 11,549 shares (conversion of RSUs to common stock; corresponding disposals for tax withholding reported as N/A value).
    • May 4, 2026: Open market sale of 5,537 shares at $1.42 per share; proceeds $7,874.
  • Shares owned after transaction: Not specified in the provided filing excerpt.
  • Notable footnotes:
    • F1/F5: RSUs convert one-for-one into common stock; many RSUs were converted from Legacy Fold awards pursuant to the 2025 merger.
    • F2: The sale(s) represent mandated sell-to-cover transactions to satisfy tax withholding on RSU vesting, not discretionary trades by the CEO.
    • F4/F6: RSU vesting schedules began in late 2023 with monthly installments; the merger on Feb 14, 2025 deemed the liquidity-vesting condition met.
  • Filing timeliness: No late filing was indicated in the provided information.

Context

  • These were not purchases (which might signal insider bullishness); they were RSU conversions and sell-to-cover tax withholding transactions. The May 4 open-market sale generated modest proceeds and, per the filing, is tied to tax withholding rather than an independent decision to liquidate a large holding.
  • For derivative/RSU activity: the filing shows converted RSUs (exercise/conversion entries) and corresponding disposals to cover taxes—this is a common, administrative insider transaction and should be viewed differently from voluntary, discretionary sales.