Velo3D (VELO) 10% Owner Jeldi Arun Exercises Derivative for 3,146 Shares

What Happened
Jeldi Arun, reported as a 10% owner (and CEO/sole equity holder of Arrayed Additive, per filing footnote), executed a conversion/exercise of a derivative (code M) on August 15, 2026. The filing shows acquisition of 3,146 shares at a reported per-share value of $16.16 (total $50,839). The filing also shows a matching disposal of 3,146 derivative units at $0, consistent with conversion/settlement of the derivative into common shares. No sale of the acquired shares is reported in this filing.

Key Details

• Transaction date: 2026-08-15 (Form 4 filed 2026-08-28 — late filing)
• Acquired: 3,146 shares @ $16.16 per share = $50,839 (Code M: exercise/conversion of derivative)
• Disposed: 3,146 derivative units @ $0 (conversion/settlement)
• Shares owned after transaction: not specified in the excerpted filing
• Footnotes of note:
  • F1: Shares/rights were held by Arrayed Notes Acquisition Corp., a wholly owned subsidiary of Arrayed Additive, Inc.; Arun is CEO/President and sole equity holder of Arrayed Additive and CEO of Arrayed.
  • F2: RSUs represent contingent rights to receive one share upon settlement for no consideration.
  • F3: RSU vesting schedule: 25% on Feb 15, 2026, then quarterly installments over next three years (Feb/May/Aug/Nov 15), subject to continued service.

Context
Code M indicates an exercise or conversion of a derivative instrument (e.g., options or RSUs). The paired entries (acquired common shares and disposal of derivative units at $0) suggest conversion/settlement rather than an open-market purchase or a sale; therefore this was not a cash sale. Because the filing was submitted 13 days after the transaction date, it was late under typical Form 4 timing rules, which reduces near-term transparency for investors.