Reeves William Brian Poppic 4

What Happened

• William Reeves, CEO of Fold Holdings (FLD), had restricted stock units convert into common shares on June 1, 2026 (total acquired: 12,623 shares from two awards of 1,075 and 11,548 shares). Following the conversion, he sold 5,639 shares in open-market transactions on June 2, 2026 at $0.91 per share, generating $5,103 in proceeds. The sales were reported as mandated "sell-to-cover" transactions to satisfy tax withholding associated with the RSU settlement, not discretionary sales.

Key Details

• Transaction dates: June 1, 2026 (conversion/settlement of RSUs); June 2, 2026 (open-market sales).
• Sales: 5,158 shares and 481 shares sold at $0.91 each; total proceeds $4,668 + $435 = $5,103.
• Shares from conversion: 12,623 shares acquired (1,075 + 11,548).
• Approximate remaining converted shares: 12,623 − 5,639 = 6,984 shares retained (based on the conversion and reported sales).
• Footnotes: RSUs convert one-for-one into common stock (F1); sales were sell-to-cover to satisfy tax withholding and were issuer-mandated, not discretionary (F2). RSU vesting schedules and conversion tied to the 2025 merger are noted in the filing (F4–F6, F5).
• Filing: Form 4 filed June 3, 2026; no late filing indicated.

Context

• These were not open-market purchases (which can signal insider confidence) but routine sell-to-cover transactions tied to RSU settlement. For derivative transactions: the filing shows conversion/settlement of RSU awards into common stock (a non-cash event) followed by mandated sales to cover tax obligations. This activity is common when RSUs vest and does not necessarily reflect the CEO’s discretionary view of the company.