Askew James M. 4

What Happened James M. Askew, a 10% owner of Agassi Sports Entertainment Corp. (AASP), exercised 2,269,583 warrants on February 4, 2026. The warrants had an exercise price of $0.397 per share, producing an exercise obligation of about $901,024. The company withheld 171,843 shares to cover the exercise cost/taxes and issued Askew the remaining 2,097,740 shares.

Key Details

• Transaction date: February 4, 2026 (Form 4 filed Feb 5, 2026 — timely).
• Exercise: 2,269,583 warrant shares exercised at $0.397 per share; total exercise amount ≈ $901,024 (code M).
• Withholding/payment: 171,843 shares were withheld/disposed to satisfy the exercise price (code F); those withheld were valued in the filing at $5.24/share for a total of $901,024.
• Net shares issued to Askew: 2,097,740.
• Prior/related entry: the filing references a 2025-02-04 derivative entry for 2,269,583 warrants (reported as a derivative event).
• Ownership after transaction: not stated in the provided filing excerpt.
• Footnote: The warrants were split into two exercisable tranches — 1,134,792 exercisable on July 3, 2024 and 1,134,791 on July 3, 2025.

Context This was a cashless exercise of warrants (company withheld shares to cover the exercise cost), not an open-market purchase or sale. As a 10% owner, Askew’s activity is significant for ownership reporting but does not by itself indicate management sentiment. Cashless or withheld-share exercises are common administrative moves to convert derivative instruments into equity without an out-of-pocket cash payment.