Lee Richard Melvin Jr. 4

What Happened
Lee Richard Melvin Jr., a director of Cardinal Infrastructure Group Inc. (CDNL), was granted 3,101 restricted stock units (RSUs) on May 7, 2026. The RSUs were recorded at a per-share value of $24.18, for a total grant value of $74,982. This was an award/ grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: May 7, 2026; Filing date: May 11, 2026 (filed 4 days after the transaction). This exceeds the typical 2-business-day Form 4 deadline and appears to be a late filing.
• Award amount and value: 3,101 RSUs @ $24.18 each = $74,982.
• Vesting schedule (per footnote): 775 RSUs vested immediately on grant; 775 RSUs vest on June 30, 2026; 775 RSUs vest on September 30, 2026; 776 RSUs vest on December 31, 2026.
• Shares owned after transaction: not specified in the Form 4 filing.
• No 10b5-1 plan, tax-withholding sale, or other special arrangements are noted in the filing footnote.

Context
RSUs are a form of compensation that convert into shares if and when they vest. Because this was a grant of RSUs (compensation) rather than an open-market purchase, it reflects board/executive compensation policy rather than a direct personal buy/sell decision. The immediate vesting of 775 RSUs means some shares became vested at grant; remaining units vest over the rest of 2026 per the schedule above.