Jeldi Arun 4

What Happened

• Jeldi Arun (reported as a 10% owner) converted/ exercised derivative securities on May 15, 2026. He exercised options to acquire 3,145 shares at $19.84 per share (total cost $62,397) and, separately on the same date, 3,145 restricted stock units (RSUs) settled into shares for no cash consideration. These transactions increased his directly owned common stock to 15,728 shares (12,583 previously reported + 3,145 from the recent vesting).

Key Details

• Transaction date: 2026-05-15 (reported on Form 4 filed 2026-05-18; filing appears timely).
• Exercise (code M): acquired 3,145 shares at $19.84 each = $62,397.
• RSU settlement (code M/derivative): 3,145 shares converted/settled at $0.00 (no cash paid).
• Shares owned after transaction: 15,728 directly owned shares (per footnote correction).
• Notable footnotes:
  • F1: Prior reported share balance incorrectly included unvested RSUs; correct balance now 15,728.
  • F2: Some holdings are held by Arrayed Notes Acquisition Corp., a subsidiary; the reporting person is CEO/President and sole equity holder of Arrayed Additive, Inc.
  • F3: Each RSU converts to one share upon settlement for no consideration.
  • F4: RSU vesting schedule: 25% on Feb 15, 2026; remaining 75% vest quarterly (Feb, May, Aug, Nov 15) — the filing corrects a prior reporting date error.
• No sale reported — this was an acquisition/vesting event, not an open-market sale.

Context

• The filing reflects a routine compensation/derivative conversion event: an option exercise (cash paid to acquire shares) and RSU settlement (shares issued without cash). Because no immediate sale is reported, these transactions are typically viewed as compensation realization rather than a sell signal. The reporting person is a 10% owner with additional disclosure about entity holdings (see F2).