DarkHorse (DRK) CAO Reppas Tiah Norton Converts RSUs; Withholds Shares

What Happened

• Reppas Tiah Norton, Chief Accounting Officer of DarkHorse Technologies (DRK), settled/converted derivative awards (RSUs) on September 21, 2026. The filing shows two derivative/settlement entries of 6,250 shares each (one reported as acquired at $0.00, one reported as a derivative disposition at $0.00). Separately, 1,941 shares were surrendered/withheld to cover tax liabilities at $2.98 per share, totaling $5,784.
• The derivative entries were reported with code M (exercise or conversion of derivative) and the withholding with code F (payment of exercise price or tax liability). The exercise/conversion price is listed as $0.00, indicating no cash exercise price paid.

Key Details

• Transaction date: 2026-09-21; filing date: 2026-09-23 (appears timely).
• Reported share actions: two M entries of 6,250 shares each (one acquired, one disclosed as disposed/derivative) and an F withholding of 1,941 shares at $2.98/share = $5,784.
• Footnotes: F1–Each RSU represents a contingent right to one share of Sphere 3D Corp. common stock. F2–These RSUs vested 9/1/2026 but were settled/delivered 9/21/2026. F3–Describes remaining RSU awards and vesting schedules (2,500 outstanding with partial quarterly vesting; 25,000 outstanding with quarterly vesting through 12/1/2027).
• Shares owned after the transaction are not specified in the provided excerpt of the filing—see the full Form 4 for post-transaction beneficial ownership.

Context

• This appears to be an RSU/derivative settlement with share withholding to cover taxes (common for vested awards), not an open-market sale. Code F indicates shares were surrendered for tax obligations rather than sold on the market for cash.
• Such settlements are routine for executives receiving vested equity; they reflect compensation settlement rather than a directional buy/sell signal.