Busch Richard 4

What Happened Richard Busch, a director of American Bitcoin Corp. (ABTC), had 254,778 restricted stock units (RSUs) vest on June 22, 2026 and those RSUs converted one-for-one into 254,778 Class A common shares (recorded as an exercise/conversion of a derivative). On June 24, 2026 he disposed of the 254,778 shares by transferring them to his former law firm under a partnership agreement; the transfer reported $0 in proceeds (no cash sale).

Key Details

• Reported transaction dates: RSU conversion/vesting on 2026-06-22; share transfer on 2026-06-24. Filing date: 2026-06-24.
• Transaction codes: M = exercise/conversion of derivative (RSU conversion to shares); J = other acquisition/disposition (transfer).
• Price / proceeds: $0.00 reported on the transfer — the disposition was a transfer, not a cash sale.
• Footnotes: F1/F3/F4 — RSUs were contingent rights that vested at the 2026 Annual General Meeting and converted to Class A shares one-for-one; issuer could have settled in cash or stock, but these RSUs settled into stock. F2 — the transfer represents shares granted as director compensation that were transferred to Mr. Busch’s former law firm under prior agreements.
• Shares owned after transaction: not specified in the filing.

Context This was not an open‑market sale for cash but a conversion of compensation RSUs into shares followed by an assigned transfer to a third party (the former law firm). Transfers to former employers or pursuant to compensation agreements are administrative/legal in nature and do not necessarily signal a personal decision to liquidate for cash. For options/derivative events: the filing shows RSUs vested and converted into stock rather than a cash settlement.