Reeves William Brian Poppic 4

What Happened
Reeves William Brian Poppic, CEO of Fold Holdings, sold a total of 20,362 shares in two transactions to satisfy tax withholding obligations tied to vested restricted stock units (RSUs). The sales were: 9,681 shares on 2026-05-18 at $1.24 ($12,004) and 10,681 shares on 2026-05-19 at $1.22 ($12,999), for total proceeds of $25,003. These were sales (not purchases) and were conducted as sell-to-cover transactions mandated to cover taxes on RSU settlement.

Key Details

• Transaction dates/prices:
  • 2026-05-18: Sold 9,681 shares @ $1.24 — $12,004
  • 2026-05-19: Sold 10,681 shares @ $1.22 — $12,999
• Total shares sold: 20,362; total proceeds: $25,003.
• Transaction code: S (Sale). Footnote F1: sales were required to satisfy tax withholding on RSU vesting (issuer-mandated "sell to cover"); not discretionary trades by the insider.
• Filing: Form 4 filed 2026-05-20 (reporting period begins 2026-05-18). Filing appears timely under the standard 2-business-day rule.
• Shares owned after this transaction: Not specified in the provided filing excerpt.
• Exhibit noted: Exhibit 24 (Power of Attorney) incorporated by reference.

Context
These were routine sell-to-cover sales connected to RSU vesting and required by the issuer’s tax-withholding election, which means they reflect tax logistics rather than an independent decision to liquidate equity. Such mandated sales are common after awards vest and are generally less informative about the insider’s view on the company than voluntary open-market purchases.