Saeed Muhammad Azhar 4
4 · GlobalTech Corp · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
GlobalTech (GLTK) 10% Owner Saeed M. Azhar Acquires Shares
What Happened
Saeed Muhammad Azhar, listed as a 10% owner of GlobalTech Corp (GLTK), is reported as acquiring 750,000 shares of Common Stock and 82,800 shares of newly designated Series A Convertible Preferred Stock on December 15, 2025. Both transactions are reported as "Other acquisition or disposition (J)" at $0.00 per share on the Form 4. The filing indicates the shares were issued to other shareholders under a Voting Agreement that gives Mr. Azhar (and a co‑majority shareholder) voting power and may cause them to be deemed beneficial owners of those shares.
Key Details
- Transaction date: December 15, 2025; Form 4 filed May 8, 2026 (late relative to the usual 2-business‑day Form 4 deadline).
- Reported acquisitions: 750,000 Common Stock (price $0.00); 82,800 Series A Convertible Preferred Stock (derivative) (price $0.00).
- Shares owned after transaction: The filing reports beneficial ownership of the 750,000 common and 82,800 preferred via the Voting Agreement; the Form 4 does not state total aggregate holdings beyond these reported amounts.
- Relevant footnotes: Shareholders Stephen Buck and John Patrick Bywater were issued the shares but granted an irrevocable proxy/voting power (Voting Agreement dated Nov 25, 2025) to majority shareholders (including Mr. Azhar), which is why Mr. Azhar may be deemed to beneficially own the shares. The Voting Agreement grants voting rights only; it does not necessarily give dispositive control or a pecuniary interest beyond that stated.
- Transaction code: "J" = Other acquisition/disposition (not a cash market purchase or sale).
- Timeliness: Form 4 filed ~5 months after the reported transaction date (May 8, 2026 reporting a Dec 15, 2025 event).
Context
- Derivative/convertible detail: Each Series A Preferred has a stated value of $100 and may be optionally converted during a 60‑day period beginning March 31, 2026 at a conversion price of $2.00 (i.e., 50 common shares per preferred). If converted at $2.00, 82,800 preferred could convert into roughly 4.14 million common shares. Automatic conversion rules on an uplisting could use a different conversion price (initial public sale price × 0.80 or a floor of $2.50), so actual conversion outcomes may vary.
- What this means for investors: The reported acquisition was effected via a voting agreement and issuance (no cash paid per Form 4). Purchases are typically more informative than sales; here the primary impact is increased potential voting influence and significant possible future dilution if preferred shares convert. The late filing reduces the immediacy of disclosure and is noteworthy for compliance/timeliness considerations.
Insider Transaction Report
Form 4
GlobalTech CorpGLTK
Saeed Muhammad Azhar
CFO10% Owner
Transactions
- Other
Common Stock
[F1][F2]2025-12-15+750,000→ 750,000 total(indirect: See footnote) - Other
Series A Convertible Preferred Stock
[F5][F3][F4][F1][F6][F2]2025-12-15+82,800→ 82,800 total(indirect: See footnote)→ Common Stock (4,190,000 underlying)
Holdings
- 28,445,112
Common Stock
Footnotes (6)
- [F1]On November 25, 2025, Stephen Buck and John Patrick Bywater (collectively, the "Shareholders"), entered into a Voting Agreement, with the Issuer, Syed Babar Ali and Muhammad Azhar Saeed (the "Majority Shareholders"). Pursuant to the Voting Agreement, the Shareholders appointed the Majority Shareholders with a power of attorney and irrevocable proxy to vote all Issuer securities held by the Shareholders from time to time until the earlier of (i) January 1, 2029, (ii) the date that the Shareholders hold no Company securities, or (iii) the date on which the Majority Shareholders have notified the Shareholders that the Voting Agreement has been terminated. On December 15, 2025, the Shareholders were issued: (i) 82,800 shares of newly designated shares of Series A Convertible Preferred Stock of the Company (the "Series A Preferred Stock"); and (ii) 750,000 shares of the Company's common stock, $0.0001 par value per share ("Common Stock").
- [F2]As a result of the Voting Agreement, Mr. Syed and Mr. Saeed share voting rights over the Series A Preferred Stock and the 750,000 shares of Common Stock held by the Shareholders. As a result of the voting right, Mr. Syed and Mr. Saeed may be deemed to beneficially own the 750,000 shares of common stock and 82,800 shares of Series A Preferred Stock of the Issuer held by the Shareholders. Except for the limited right to vote such shares pursuant to the Voting Agreement, Mr. Syed has no dispositive control over the shares, nor any pecuniary interest therein.
- [F3]During a 60-day period beginning on March 31, 2026, each holder of Series A Preferred Stock may, at its option, convert its shares of Series A Preferred Stock into that number of shares of Common Stock equal to $100, divided by $2.00 (the "Conversion Price"), subject to adjustment for stock splits and stock dividends, with any fractional shares rounded up to the nearest whole share.
- [F4]Each share of Series A Preferred Stock will automatically convert to Company Common Stock on the earlier of (i) the date that the Company's Common Stock is listed on the Nasdaq Capital Market; Nasdaq Global Market, or NYSE American (an "Uplisting") and (ii) the last day of the optional conversion period, into that number of shares of common stock equal to the Stated Value of such share of Series A Preferred Stock, divided by the applicable conversion price.
- [F5]The applicable conversion price (1) for an Automatic Conversion occurring on the date that the Uplisting is approved, is (a) the initial sales price of the Company's common stock on the Nasdaq Capital Market, Nasdaq Global Market, or NYSE American, multiplied by (b) 0.80; and (2) for an Automatic Conversion occurring on the last day of the Optional Conversion Period, the greater of (x)(a) the initial sales price of the Company's common stock on the Nasdaq Capital Market, Nasdaq Global Market, or NYSE American on the date that the Uplisting is approved, multiplied by (b) 0.80; and (y) $2.50, subject in each case to adjustment for stock splits and stock dividends, with any fractional shares rounded up to the nearest whole share.
- [F6]The Series A Preferred Stock has no expiration date.
Signature
/s/ Muhammad Azhar Saeed|2026-05-08