Zedge (ZDGE) 10% Owner Jonas Michael C Receives Shares via Derivative Conversion

What Happened
Jonas Michael C, a reported 10% owner of Zedge, received shares through derivative/award conversions. On Sept 8, 2026, 4,233 shares were issued in connection with vested Deferred Stock Units (DSUs). On Sept 10, 2026, the Form 4 reports a conversion/exercise of a derivative that resulted in 386,244 shares issued at $0.00 (non‑cash). The filings list the Sept 8 DSU issuance both as an acquisition and as a zero‑priced disposition in the transaction reporting; footnotes explain the items are DSU settlements.

Key Details

• Transaction dates: Sept 8, 2026 (4,233 shares from DSU vesting) and Sept 10, 2026 (386,244 shares via derivative conversion).
• Report filed with the SEC on Sept 10, 2026 (period of report: Sept 8, 2026). Filing appears timely.
• Prices: DSU issuance reflected using the DSU conversion band (market price $2.97 for the Sept 8 vesting produced 1 share per DSU for those units). The larger Sept 10 issuance is reported at $0.00 (non‑cash conversion).
• Holdings after report (per footnotes): includes 108,336 vested restricted shares; 38,736 unvested restricted shares (scheduled to vest Feb 8, 2027); and 17,166 shares previously issued upon DSU vesting.
• Relevant footnotes: F1 notes DSUs settle one‑for‑one into Class B common stock; F3 explains the DSU conversion bands and that 4,233 DSUs converted to 4,233 shares on Sept 8; F4 describes unrelated option vesting terms (options not yet exercisable).
• Transaction type code: “M” (exercise/conversion of derivative). No open‑market purchase or sale was reported.

Context
These transactions are non‑cash issuances/settlements (DSU conversion and derivative conversion) rather than an open‑market buy or sale. DSU conversions can produce variable share counts depending on the share price band at vesting (explained in footnote F3). As a 10% owner, Jonas’s filings are required disclosures of beneficial ownership changes; they do not by themselves indicate his market view.