Bit Digital (BTBT) CFO Huang Erke Converts 535,000 Derivative Shares

What Happened

• Huang Erke, Chief Financial Officer of Bit Digital, converted/exercised 535,000 derivative securities into 535,000 ordinary shares on August 31, 2026. The shares are reported at a closing price of $1.43 each, valuing the acquired shares at $765,050.
• The filing shows an accompanying derivative disposition entry at $0.00, which reflects the conversion/settlement of the derivative instrument into common shares rather than a cash sale.

Key Details

• Transaction date: 2026-08-31; reported filing date: 2026-09-02.
• Price/value: $1.43 per share; total value reported for acquired shares = $765,050.
• Shares acquired: 535,000 ordinary shares (conversion/exercise). A matching derivative "disposition" of 535,000 units at $0.00 documents the conversion.
• Shares owned after the transaction: not specified in the filing.
• Relevant footnotes:
  • F1: Ordinary shares were valued at $1.43, the closing price on the conversion date.
  • F2: These were performance-based RSUs issued July 24, 2026 after performance milestones were met on June 30, 2026 (exempt under Rule 16b-3).
  • F3: Filing references 200,000 Preference Shares (as applicable to the reporting table).
• Filing timeliness: transaction reported on the Form 4 filed 2026-09-02 for an 2026-08-31 transaction (filing date shown in the report).

Context

• This was a conversion/exercise of derivative securities (performance-based RSUs), not an open-market purchase or sale. The derivative was converted into ordinary shares—no cash sale of the acquired shares is indicated in the filing.
• Conversions of RSUs are typically administrative/compensation events; they do not by themselves signal insider sentiment like an open-market purchase might.