Murray Mark F. 4

What Happened
Mark F. Murray, a director of Jones Soda Co. (JSDA), converted restricted stock units (RSUs) into common shares on December 31, 2025. The Form 4 shows two derivative conversions of 93,438 shares each (totaling 186,876 shares). The conversions carried a $0.00 per-share cost (RSUs settled one-for-one into shares with no cash consideration).

Key Details

• Transaction date(s): December 31, 2025. Two derivative-conversion entries of 93,438 shares each (total 186,876 shares).
• Reported price: $0.00 per share (RSUs converted on vesting; no cash payment required).
• Filing date: January 29, 2026 — more than two business days after the Dec 31, 2025 transaction, so the Form 4 appears to have been filed late.
• Shares owned after transaction: not disclosed in the excerpt provided; check the full Form 4 for post-transaction beneficial ownership.
• Relevant footnotes from the filing:
  • F1/F2: These were RSUs converting one-for-one into common shares on vesting; holders pay no consideration on vesting.
  • F3: The RSUs were part of a July 18, 2025 grant of 460,003 RSUs — 50% vested July 31, 2025, 25% vested Sept 30, 2025, and the remaining 25% were scheduled to vest Dec 31, 2025.

Context
This was a conversion/settlement of RSUs (derivative conversion), not an open-market purchase or sale. RSU vesting and conversion into shares is typically routine compensation settlement and does not by itself indicate a buy or sell market signal. Because the filing was submitted weeks after the transaction date, investors may want to review the full filing for any additional disclosures and confirm total post-transaction holdings.