T1 Energy (TE) Director Matrai Balazs Exercises Warrants

What Happened
Matrai Balazs Peter, a director of T1 Energy Inc. (TE), exercised 744,431 warrants on May 15, 2024 via a cashless exercise. The warrants had an exercise price of $0.95 per share (total exercise value ≈ $707,209). Based on the May 15 closing price of $2.01, the issuer withheld 351,845 shares (valued ≈ $707,208) to cover the exercise/tax obligation and issued 392,586 shares to the reporting person. The underlying warrants were converted and no cash changed hands.

Key Details

• Transaction date: May 15, 2024 (reported via an amended Form 4 filed Aug 26, 2026). This filing corrects earlier reporting. The original Form 4 was filed May 16, 2024.
• Warrants exercised: 744,431 at $0.95 (exercise cost ≈ $707,209).
• Shares withheld to cover exercise/taxes: 351,845 at $2.01 (value ≈ $707,208).
• Shares issued to insider (net received): 392,586 shares.
• Filing status: This is an amended (and late) Form 4 correcting previously reported indirect holdings attributable to a co-owner of EDGE Global LLC. The amendment removes indirect holdings that were never beneficial to the reporting person.
• Note from filing: The removed indirect shares were attributable solely to Tom Einar Jensen (who resigned from the Board effective Dec 23, 2024 and is no longer subject to Section 16 reporting).

Context

• This was a cashless exercise of warrants: instead of paying cash, a portion of the underlying shares was withheld to satisfy the exercise/tax liability, and the remainder issued to the insider. That means the insider acquired net shares (392,586), though part of the position was used as payment.
• The amendment corrects ownership reporting (removing indirect holdings tied to a co-owner) and restores accuracy to SEC records; the late amendment reduces timeliness but clarifies actual beneficial ownership.