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Signing Day Sports, Inc.·4

Mar 18, 4:05 PM ET

Smith Craig Steven 4

Research Summary

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Signing Day Sports COO Craig S. Smith Surrenders Shares in Merger

What Happened
Craig Steven Smith, Chief Operating Officer and Secretary of Signing Day Sports, reported dispositions on March 16, 2026: 28,775 common shares and 1,042 derivative shares (total 29,817) were disposed to the issuer in connection with the company's business combination (not an open‑market sale). Under the Business Combination Agreement, each Signing Day share converted into 0.09334 shares of BlockchAIn; that equates to roughly 2,783 BlockchAIn shares with a first‑reported sale price of $4.60 — about $12.8K in value (rounded).

Key Details

  • Transaction date: March 16, 2026; Form 4 filed March 18, 2026 (timely within the two‑business‑day deadline).
  • Transaction type: Code D — disposition to the issuer as part of the closing of the business combination (not an open‑market sale). Reported per‑share cash price: N/A.
  • Shares disposed: 28,775 common shares + 1,042 derivative shares = 29,817 total Signing Day shares surrendered.
  • Conversion: 0.09334 BlockchAIn shares received per Signing Day share (subject to rounding). Based on BlockchAIn’s first reported NYSE American sale ($4.60 on Mar 17, 2026), the converted position is roughly 2,783 BlockchAIn shares (~$12.8K).
  • Options/derivatives: Per the filing, Smith’s option was assumed by BlockchAIn, immediately fully vested and converted into an option to purchase 98 BlockchAIn shares exercisable at $1,285.62 per share.
  • Shares owned after transaction: Not specified on this Form 4.
  • Footnotes: See F1 (conversion ratio and valuation) and F2 (option vesting, assumption and conversion). No 10b5‑1, tax‑withholding or gift notation shown.

Context
This was a merger/combination conversion (disposition to issuer) rather than a typical insider sale or open‑market purchase. The filing documents the exchange of Signing Day securities into BlockchAIn securities per the Business Combination Agreement and the conversion/assumption of an option into a BlockchAIn option. Because this is a transaction tied to the corporate reorganization, it should not be read the same way as a voluntary sale or purchase in terms of signaling insider sentiment.