TAGLICH MICHAEL N 4

What Happened

• Michael N. Taglich (reported as a 10% owner) executed related-party share transfers on January 5, 2026: he disposed of 23,996 shares at $2.84 each (proceeds $68,149) and acquired 11,998 shares at $2.84 each (cost $34,074). Transaction codes are J (other acquisition/disposition). Net effect was a sale of about 11,998 shares (net proceeds ≈ $34,075). This filing reports transfers among related parties rather than a standard open-market buy or sell.

Key Details

• Transaction date: 2026-01-05; filing date (Form 4): 2026-01-21 (filed late — 16 days after the transaction).
• Prices and amounts: Sold 23,996 shares @ $2.84 = $68,149; Acquired 11,998 shares @ $2.84 = $34,074.
• Shares owned after transaction: Not disclosed in this Form 4.
• Notable footnotes from the filing:
  • F1: Taglich Brothers, Inc. (of which Michael Taglich is Chairman & President) sold 11,998 shares to Michael Taglich and 11,998 shares to Robert Taglich (related-party transfers).
  • F2–F3: Vesting/exercise details cited for other referenced securities (e.g., vesting schedule and exercisability).
  • F4–F5: References to issuer convertible notes and accrued interest (represent conversions/notes treatment).
• Transaction code J indicates "other" acquisition/disposition rather than a routine buy/sell plan (e.g., not a 10b5-1 sale).

Context

• These were related-party transfers involving Taglich Brothers and family members rather than a clear open-market investment or divestiture; such moves don’t necessarily signal the insider’s market view.
• The filing was submitted late relative to the usual Form 4 two-business-day window, which can reduce the timeliness value of the disclosure for investors.
• For retail investors: purchases are often more informative than transfers, but here the net effect was a modest net sale (~$34k).