SHANFELTER AUSTIN J 4

What Happened
Austin J. Shanfelter, a director of Cardinal Infrastructure Group Inc. (CDNL), was granted 3,101 restricted stock units (RSUs) on May 7, 2026. The award is reported at an issuance price of $24.18 per share, for a total reported value of $74,982. This transaction is an award/acquisition (code A), not an open-market purchase or a sale.

Key Details

• Transaction date and price: May 7, 2026 — 3,101 RSUs at $24.18 each (total $74,982).
• Vesting: 775 RSUs vested immediately; 775 vests on June 30, 2026; 775 vests on Sept 30, 2026; 776 vests on Dec 31, 2026 (per footnote).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Filing timeliness: Form 4 filed May 11, 2026 — within the standard two business-day filing window for this May 7 transaction.
• Transaction type: Award/Grant (RSUs). No 10b5-1 plan, tax-withholding detail, or sale reported in this filing.

Context
RSUs are compensation grants that convert to actual shares only as they vest; 775 vested immediately and are likely now issued to the director, while the remainder are contingent on continued service and vest on the listed future dates. Awards reflect compensation/retention actions rather than direct market purchases or sales and should be interpreted as such.