SMITH WILLIAM W JR 4

What Happened

• William W. Smith Jr., a reported 10% owner of Smith Micro Software, Inc. (SMSI), was issued a derivative award on March 10, 2026 that is reported as 8,818,254 potential shares. The filing shows this as an acquisition (transaction code A) of derivative securities (no per-share price reported).
• Footnotes state the issuance arose from Smith Living Trust purchasing a secured convertible note plus a warrant for an aggregate purchase price of $4,585,491.93. The filing treats the 8,818,254 figure as the assumed number of shares if the full original principal of the convertible note is converted.

Key Details

• Transaction date: 2026-03-10 (Filed same day; appears timely)
• Transaction type: Grant / award or other acquisition (derivative securities), transaction code A
• Reported potential shares: 8,818,254 (derivative; per-share price listed as N/A)
• Consideration: $4,585,491.93 paid for the secured convertible note and warrant (per filing footnote)
• Shares owned after transaction: Not specified in the provided summary of the Form 4
• Notable footnotes: F1 describes the Securities Purchase Agreement and issuance date; F2 notes the original principal amount reference; F3 clarifies the share count assumes full conversion of the note

Context

• This was not a straightforward open-market stock purchase but a financing-related acquisition: the buyer acquired a secured convertible note plus a warrant. The 8.82M figure reflects the assumed shares on full conversion of that note, not an immediate issuance of common stock.
• As a 10% owner, this is large-holder activity rather than routine employee option exercise; it indicates participation in a financing arrangement rather than a direct endorsement via open-market buying.