Clarkston Companies, Inc. 4

What Happened

• Clarkston Companies, Inc. (reported as a 10% owner) recorded an exchange on May 11, 2026: 1,600 shares of Series C preferred stock were disposed and 1,600 shares of newly designated Series D preferred stock were acquired. Each side of the transaction is reported at $5,000.00 per share, totaling $8,000,000 for the disposition and $8,000,000 for the acquisition.
• The Form 4 uses transaction code J (“other acquisition or disposition”); the footnote states the Series D shares were issued in exchange for the Series C shares. This is an intra-company reclassification/conversion rather than an open-market buy or sale.

Key Details

• Transaction date: May 11, 2026. Filing date: June 24, 2026 (filed late relative to the trade date).
• Reported amounts: 1,600 shares disposed at $5,000.00/sh ($8,000,000) and 1,600 shares acquired at $5,000.00/sh ($8,000,000).
• Footnote: Issuer issued 1,600 newly designated Series D preferred shares to the reporting person in exchange for 1,600 Series C preferred shares.
• Shares owned after transaction: the filing documents the exchange of 1,600 Series C to 1,600 Series D; beneficial ownership count appears unchanged by the conversion (no net change in number of preferred shares).
• Insider type: 10% owner (institutional holder), not an executive officer or director.

Context

• This transaction reflects a reclassification/exchange of preferred stock series and does not represent a market purchase or sale that necessarily signals bullish or bearish sentiment. For retail investors, such conversions typically relate to corporate capital-structure actions rather than personal trading decisions.
• The Form 4 was filed on June 24 for a May 11 transaction (late filing), which can reduce the timeliness of the disclosure for investors tracking insider activity.