Maskin Scott 4

What Happened

Scott Maskin, CEO of SUNation Energy, reported a purchase (Form 4 code P) of 554,712 shares of SUNE common stock on April 14, 2026. The shares were recorded at $1.77 each for a total reported value of approximately $981,840. The filing’s footnote states the shares were issued in exchange for outstanding debt under a debt conversion agreement (i.e., debt-for-equity conversion), not an open-market cash purchase.

Key Details

• Transaction date and price: 2026-04-14 at $1.77 per share (total ≈ $981,840).
• Shares acquired: 554,712 shares (issued in exchange for debt per footnote).
• Shares owned after transaction: Not specified in the supplied summary (check the full Form 4 for post-transaction beneficial ownership).
• Footnotes:
  • F2: Reporting person converted debt for the 554,712 shares pursuant to a debt conversion agreement.
  • F1: Share counts reflect prior reverse stock splits (1-for-15 on 2024-06-12; 1-for-50 on 2024-10-17; 1-for-200 on 2025-04-09).
• Filing timeliness: The Form 4 was filed on 2026-05-01 for a 2026-04-14 transaction, which appears to be a late filing (normally due within two business days). Late filings can occur for administrative reasons but are noteworthy.

Context This transaction was a debt conversion—Maskin exchanged company debt for equity—so no cash was paid by the insider. Purchases or acquisitions by insiders can be more informative than sales, but a debt conversion can reflect balance-sheet adjustments rather than a direct bullish cash investment. For full context (including Maskin’s total holdings before/after the conversion and any dilution effects), review the complete Form 4 and the company’s filings.