Powerlaw (PWRL) CIO Black Benjamin David Buys 6,500 Shares

What Happened
Black Benjamin David, Chief Investment Officer and a director of Powerlaw Corp. (PWRL), acquired 6,500 shares on 2026-06-22 in open‑market purchases. The reported weighted-average price was $15.47, for a total reported cost of $100,555. This is a purchase (a direct acquisition), which retail investors often view as a stronger signal than routine sales.

Key Details

• Transaction date: 2026-06-22; Form filed: 2026-06-23 (timely filing).
• Transaction type/code: P = Purchase (open market/private purchase).
• Shares purchased: 6,500; weighted-average price: $15.47; total value reported: $100,555.
• Price range: purchases occurred at prices between $15.10 and $15.60; $15.47 is the weighted average (Footnote F1).
• Shares owned after transaction: the Form 4 summary provided here does not list a single consolidated post-transaction total. Footnote F2 notes previously reported holdings (prior to a 12-for-1 reverse split) totaling 14,297,957 shares across direct and indirect holdings; Footnote F3 clarifies Lucifer Properties I LLC is controlled by the reporting person.
• No indication of option exercise, gift, tax withholding, or a 10b5-1 plan in the provided notes.

Context

• This was a straightforward open‑market purchase by an executive/director. Purchases can be interpreted as the insider adding to a position, but do not prove future performance—only that the insider bought shares.
• Footnote F1: the filer will provide a breakdown of how many shares were bought at each price in the $15.10–$15.60 range if requested by the company, shareholders, or the SEC staff.
• Footnote F2/F3: the filing clarifies prior reported holdings and that an affiliated LLC (Lucifer Properties I LLC) is controlled by the reporting person, indicating some holdings are indirect.