Syed Babar Ali 4

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.