Norman Paul T 4

What Happened

• Norman Paul, a director of Jones Soda Co. (JSDA), acquired 115,001 shares on December 31, 2025 through the conversion/settlement of restricted stock units (RSUs). The filing shows $0.00 paid on settlement — these shares were issued on vesting rather than purchased.

Key Details

• Transaction date: December 31, 2025. Form 4 filed: January 29, 2026 (Accession: 0001493152-26-004179).
• Transaction code: M (exercise or conversion of derivative) — here used for RSU conversion into common shares.
• Shares acquired: 115,001 shares; price paid: $0.00 (RSUs settled one-for-one into shares).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1–F3 explain these were RSUs that convert one-for-one into common stock on vesting with no cash required. The RSUs were granted July 18, 2025 (460,003 RSUs total) with a vesting schedule: 50% vested July 31, 2025, 25% on Sept 30, 2025, and the remaining 25% (115,001) on Dec 31, 2025.
• Filing timeliness: The Form 4 was filed ~29 days after the Dec 31 transaction, which is later than the usual two-business-day reporting requirement.

Context

• This was an issuance on vesting of RSUs (not an open-market purchase or sale). The filing does not show any immediate sale of the shares — they appear to have been received and retained per the report. RSU settlements involve no out-of-pocket purchase price and therefore reflect compensation/awarded shares rather than a direct buy by the insider.