Nelson Daniel D 4

What Happened

• Daniel D. Nelson, CEO, Chairman and a director of Signing Day Sports, reported dispositions on March 16, 2026 tied to the closing of the company's business combination with BlockchAIn. The Form 4 shows he disposed of a total of 436,103 Signing Day Sports (SGN) shares (402,042 + 31,247 + 625* + 105* + 2,084*; items marked * are derivative-related dispositions).
• Per the Business Combination Agreement (footnote F1), SGN shares were converted into BlockchAIn common shares at a 0.09334 exchange ratio on the closing date. Based on BlockchAIn’s first reported sale price of $4.60 (reported 3/17/2026), the converted securities equal approximately 40,706 BlockchAIn shares with an approximate market value of $187,000. Several SGN options were assumed and converted into BlockchAIn options (see Key Details).

Key Details

• Transaction date: March 16, 2026; Form 4 filed March 18, 2026 (timely).
• Disposed (SGN) total: 436,103 shares to the issuer as part of the closing (no open‑market sale).
• Conversion ratio/value: 0.09334 BlockchAIn shares per SGN share; BlockchAIn first sale price $4.60 → ~40,706 shares ≈ $187,000 (approx., per footnote F1; rounding adjustments may apply).
• Options conversions (assumed by BlockchAIn per Business Combination Agreement):
  • Converted into an option to purchase 59 BlockchAIn shares at $1,594.17/share (F3).
  • Converted into an option to purchase 10 BlockchAIn shares at $1,594.17/share (F4).
  • Converted into an option to purchase 195 BlockchAIn shares at $1,157.06/share (F5). Note: these exercise prices are stated in the filing and are well above BlockchAIn’s initial trading price of $4.60.
• Trust disclosure: Nelson is co‑trustee of The Nelson Revocable Living Trust and disclaims beneficial ownership except for pecuniary interest (F2).
• Shares owned after the transaction are not separately itemized for SGN in the filing; the filing reflects conversion/assumption mechanics due to the business combination rather than an open‑market sale.

Context

• This filing reflects the mechanics of a corporate merger/closing (conversion of SGN equity into the surviving company’s securities) rather than an insider selling shares on the open market. Derivative entries reflect SGN options being assumed and converted into BlockchAIn options. These converted options carry high exercise prices relative to BlockchAIn’s opening trade, which affects their immediate economic value.