Rich Damon 4
Research Summary
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Signing Day Sports (SGN) CFO Rich Damon Disposes 52,417 Shares
What Happened
- Rich Damon, CFO of Signing Day Sports, reported a disposition to the issuer of 52,417 shares of Signing Day Sports common stock on March 16, 2026. The Form 4 shows a non‑cash conversion (price listed as N/A).
- Under the Business Combination Agreement, each SGN share was converted into 0.09334 shares of BlockchAIn. That ratio implies Mr. Damon received roughly 4,892.6 BlockchAIn shares, which had a first reported sale price of $4.60 on the NYSE American (reported March 17, 2026), valuing the received shares at about $22,506. This was a conversion at closing of the business combination, not an open‑market sale.
Key Details
- Transaction date: 2026-03-16 (Closing of the business combination). Filing date: 2026-03-18 (Form 4 filed timely).
- Reported transaction code: D (Disposition to the issuer — conversion/surrender of shares under the merger/combination agreement).
- Shares disposed: 52,417 SGN common shares. Form 4 lists the price as N/A because this was an exchange, not a cash sale.
- Shares received (per footnote): 0.09334 BlockchAIn shares per SGN share → ~4,892.6 BlockchAIn shares; first reported market price $4.60 → ~ $22,506 total (based on BlockchAIn’s first reported sale price after the close).
- Shares owned after transaction: Not specified in the filing.
- Footnote: Transaction arose under the Business Combination Agreement dated May 27, 2025, and occurred at the Closing on March 16, 2026.
Context
- This filing documents a conversion of Signing Day Sports stock into shares of the merged company (BlockchAIn) at closing — it is not an insider selling into the open market and therefore does not necessarily signal a change in the insider’s view of the combined company.
- The dollar value above uses the first reported post‑close sale price for BlockchAIn (per the filing); the Form 4 lists N/A for price because consideration was non‑cash.