Yeganeh Reuven 4

What Happened Yeganeh Reuven, reported as a 10% owner (via Pyu Pyu Capital, LLC), converted Series Y convertible preferred stock into common stock and then sold the resulting securities across March 16–17, 2026. The filing shows conversions of 450,000 shares (3/16) and 530,000 shares (3/17) at a $2.00 conversion price (total cost $1,960,000), and multiple disposals/sales totaling approximately 5,980,000 shares that generated roughly $29,972,000 in proceeds. Several small conversion/disposition line items at $0.00 were also reported (900 and 1,060 shares). Overall the transactions show acquisitions via conversion followed by substantial sales (net material sell activity).

Key Details

• Transaction dates: March 16–17, 2026; Form 4 filed March 18, 2026.
• Conversions (acquisitions): 450,000 @ $2.00 on 3/16 ($900,000); 530,000 @ $2.00 on 3/17 ($1,060,000). Total converted = 980,000 shares ($1,960,000).
• Sales (dispositions): 450,000 @ $5.00; 530,000 @ $5.00; 1,300,000 @ $5.00; 2,000,000 @ $5.24; 1,700,000 @ $4.76 — total ≈ 5,980,000 shares for ≈ $29,972,000.
• Footnotes: F1 — conversions were from Series Y Convertible Preferred at $2.00/share. F2 — reported securities are directly owned by Pyu Pyu Capital, LLC; Reuven is sole member and disclaims beneficial ownership except pecuniary interest. F3 — some common-stock sales were private transactions at $5.00/share. F4 — warrants were sold in private transactions at the stated prices.
• Shares owned after the transactions are not specified in the filing.
• Filing timeliness: Form 4 filed 3/18/2026 reporting 3/16–3/17 transactions; no late filing flag noted.

Context

• These were conversions of preferred shares into common (a form of purchase/acquisition) followed by sales; conversions reduced preferred holdings and increased common shares available for sale. Because converted shares were immediately or shortly thereafter sold, this resembles a conversion + sale (not a long-term buy-and-hold purchase).
• As a reported 10% owner acting through an LLC, this is institutional/major-holder activity rather than routine executive compensation trades; the filing’s footnote clarifies the ownership structure.
• Sales included private transactions (per footnotes) and sales of derivative-related securities (warrants) at specified private prices. These items are factual disclosures and do not necessarily indicate the insider’s investment view.