Syed Babar Ali 4
4 · GlobalTech Corp · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
GlobalTech (GLTK) 10% Owner Syed Babar Ali Acquires 750,000 Shares
What Happened
- Syed Babar Ali, reported as a 10% owner of GlobalTech Corp (GLTK), was disclosed as acquiring voting control over 750,000 shares of Common Stock and 82,800 shares of newly issued Series A Convertible Preferred Stock on December 15, 2025. Both entries show $0.00 consideration — the common shares and the preferred were issued to two other shareholders but voting rights were granted to Mr. Ali (and a co‑majority holder) under a Voting Agreement.
Key Details
- Transaction date: December 15, 2025; Form 4 filed May 8, 2026 (late filing).
- Reported entries: 750,000 Common Stock (acquisition, $0.00) and 82,800 Series A Convertible Preferred (derivative acquisition, $0.00).
- Shares owned/beneficially controlled after transaction: Mr. Ali may be deemed to beneficially own voting rights over the 750,000 common shares and 82,800 Series A preferred shares held by the Shareholders, but he has no dispositive (sale) control or pecuniary interest in those shares other than the limited voting power under the Voting Agreement.
- Footnote highlights: A Voting Agreement (dated Nov 25, 2025) gives Mr. Ali and a co‑majority shareholder an irrevocable proxy/power of attorney to vote the shares until Jan 1, 2029 (or earlier if conditions are met). The Series A preferred carries conversion mechanics (see Context).
- Filing timeliness: This Form 4 was filed late relative to the Dec 15, 2025 transaction date; late filings do not change the reported transactions but reduce timely market transparency.
Context
- Series A preferred conversion: Holders may optionally convert during a 60‑day window beginning March 31, 2026, at a stated conversion price (described in the filing) and the shares will automatically convert upon an uplisting or at the end of the optional period under specified formulas. The preferred has no expiration date.
- Meaning for investors: This filing records a transfer of voting power (not a cash purchase) and should be read as a corporate governance/voting arrangement rather than a normal insider buy or sale indicating personal investment.
Insider Transaction Report
Form 4
GlobalTech CorpGLTK
Syed Babar Ali
10% 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][F4][F3][F1][F6][F2]2025-12-15+82,800→ 82,800 total(indirect: See footnote)→ Common Stock (4,190,000 underlying)
Holdings
- 88,463,156
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/ Syed Babar Ali|2026-05-08