Smith Kirin 4

4 · CRAWFORD UNITED Corp · Filed Feb 6, 2026

AI-generated summary of this filing

Updated Feb 6, 2026

Crawford United (CRAWA) Director Kirin Smith Sells Shares

What Happened

Kirin Smith, a director of Crawford United Corporation (CRAWA), reported two dispositions to the issuer on 2026-02-06: 38,668 shares and 36,260 shares, for a total of 74,928 shares. Under the merger agreement, each share was converted into cash at $83.8636 per share, yielding roughly $6,283,731.82 in aggregate proceeds.
These were dispositions to the issuer as part of the company’s merger (not open-market sales), so this is a cash-out via the transaction rather than an individual sale signaling a trading decision.

Key Details

Transaction date: 2026-02-06 (two dispositions: 38,668 and 36,260 shares).
Per-share consideration: $83.8636; estimated total received ≈ $6,283,731.82.
Transaction type/code: Disposition to issuer (D) under the Merger Agreement.
Shares owned after transaction: the ordinary shares were converted for cash at the effective time of the merger, so no remaining common shares of Crawford United.
Footnotes: F1 explains the Merger Agreement converting each issued and outstanding common share into cash; F2 notes Smith may be deemed to beneficially own Class A shares held by Intrinsic Value Capital, L.P. (IVC) due to his role with its manager, but he disclaims ownership of other group members’ holdings except to extent of his pecuniary interest.
Filing timeliness: Form filed 2026-02-06 (same date as the transaction), indicating a timely report.

Context

This was a merger cash-out (each share converted to a fixed cash amount) rather than a market sale or exercise of options; such transactions reflect the deal terms rather than an insider’s market view.
For retail investors, merger-related dispositions usually reflect the outcome of the corporate transaction (cash consideration distributed) and should not be read the same way as routine open-market insider sales.

Form 4

Period: 2026-02-06

Director

Transactions

Disposition to Issuer
Class A Common Shares
[F1]
2026-02-06−38,668→ 0 total
Disposition to Issuer
Class A Common Shares
[F1][F2]
2026-02-06−36,260→ 0 total(indirect: By Intrinsic Value Capital, L.P.)

Footnotes (2)

[F1]Pursuant to the Agreement and Plan of Merger dated December 5, 2025 (the "Merger Agreement"), by and among SPX Enterprises, LLC, a Delaware limited liability company ("Parent"), Project King Acquisition, Inc., an Ohio corporation and a wholly owned subsidiary of Parent ("Merger Sub"), and Crawford United Corporation, an Ohio corporation (the "Company"), the Merger Sub merged with and into the Company, with the Company continuing as the surviving corporation and a wholly owned subsidiary of the Parent (the "Merger"). At the effective time of the Merger, each issued and outstanding common share of the Company was converted automatically into the right to receive cash in an amount equal to $83.8636 per share without interest, net of all applicable withholding taxes.
[F2]As a managing member of Glaubman & Rosenberg Advisors, LLC, the general partner and investment manager of Intrinsic Value Capital, L.P. ("IVC"), respectively, Kirin Smith may be deemed to beneficially own the Class A Common Shares beneficially owned by IVC. The reporting person disclaims beneficial ownership of the securities beneficially owned by the other members of the group except to the extent of his pecuniary interest therein.

Signature

/s/ Kirin Smith|2026-02-06

1 file