Saeed Muhammad Azhar 4

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.