Rafael Holdings (RFL) 10% Owner Jonas Howard Receives Restricted Stock

What Happened Jonas Howard (reported as a 10% owner) was granted 54,945 restricted shares of Rafael Holdings on July 29, 2026, at an acquisition price of $2.73 per share, a total value of $150,000. This was an award/grant of restricted stock (an acquisition rather than a market purchase or sale).

Key Details

• Transaction date: July 29, 2026; Filing date: July 31, 2026 (timely Form 4 filing).
• Shares acquired: 54,945; Price per share: $2.73; Aggregate value: $150,000.
• Shares owned after transaction (per filing): 239,228 vested Class B restricted shares and 272,802 unvested Class B restricted shares (total 512,030 Class B shares).
• Vesting for this grant (F1): 13,737 shares vest on Sept 13, 2026; 13,736 shares vest on each of Dec 13, 2026, Mar 13, 2027 and Jun 13, 2027.
• Existing unvested shares vesting schedule (F2): 49,452 on Sept 13, 2026; 49,450 on each of Dec 13, 2026, Mar 13, 2027 and Jun 13, 2027; and 18,750 on each of Jan 13 of 2027, 2028, 2029 and 2030.
• Control note (F3): The reporting person is the sole manager of the sole general partner of a limited partnership and has sole voting and dispositive power over Class A common stock held by that partnership.

Context This transaction is a restricted stock grant (compensation/award) subject to vesting, not an open-market buy or sale. Because the filer is a 10% owner and has managerial control over related partnership holdings, the filing describes both direct holdings and controlled shares; it does not itself indicate a secondary-market intent.