MONEY ARTHUR L 4

What Happened

• Arthur L. Money, a director of HawkEye 360 (HAWK), reported the automatic conversion of multiple series of preferred stock into common shares and the net exercise of warrants on May 8, 2026, in connection with the company’s IPO. The filing shows conversions totaling 16,882 shares of common stock (from Series A‑1, A‑3, B, C and D preferred on a 1‑for‑1 basis) and exercise/conversion activity related to warrants that resulted in 161 net shares (123 and 40 gross warrant shares less 1 share withheld for each warrant). Conversions and the recorded transactions show $0.00 cash consideration for the converted derivative securities; the warrants had a $0.01 exercise price but were paid on a cashless/net basis per the footnotes.

Key Details

• Transaction date: May 8, 2026; Form 4 filed May 12, 2026 (within the standard two‑business‑day filing window).
• Prices/consideration: Preferred converted 1-for-1 at $0.00; warrants had $0.01 exercise price but were net‑exercised (cashless), with 1 warrant share withheld in each case to cover the exercise price.
• Reported share movements: conversions totaled 16,882 common shares; warrant activity resulted in 161 net common shares issued to the holder after withholding.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: (F1) preferred series automatically converted upon IPO; (F2/F5) shares and warrants held by the Money Family Trust (reporting person is trustee with voting/dispositive power); (F3/F4) describe the cashless/net exercise and 1‑share withholding for each warrant.
• Transaction codes: C = conversion of derivative security; M = exercise/conversion of derivative; D = disposition to issuer (used here for share withholding).

Context

• This is a corporate-event conversion tied to HawkEye 360’s IPO rather than an open‑market purchase or sale by the insider. Automatic conversions of preferred stock and cashless/net warrant exercises are common on IPOs and do not necessarily reflect an insider’s buy/sell sentiment.
• The warrant exercises were cashless (net) — the issuer withheld shares to cover the tiny exercise price rather than the holder paying cash.