SilverBay Capital Management LLC 4

What Happened
SilverBay Capital Management LLC — reported as a 10% owner and the investment adviser to Innovation Access Fund — purchased 3,827,824 shares on June 1, 2026 at $15.67 per share, a total transaction value of $59,982,002. This was a purchase (transaction code P), which is a direct acquisition of stock rather than a sale.

Key Details

• Transaction date and price: 2026-06-01; 3,827,824 shares at $15.67 each.
• Total value: $59,982,002.
• Filing date: 2026-06-03 (appears to be filed within the normal Form 4 reporting window).
• Shares owned after transaction: not specified in the provided filing details.
• Footnote: The reporting person is the Issuer’s investment adviser; an affiliate of the Adviser, by common control, acquired securities as an additional seed investment.

Context
This is an institutional purchase by a 10% owner/investment adviser and appears tied to seed investment activity (per the footnote). Such purchases can reflect institutional positioning or funding activities rather than individual executive sentiment. The filing does not indicate option exercises, gifts, or tax-withholding related transactions.