Blisko Michael 4

What Happened Michael Blisko, a director of OptimumBank Holdings, Inc. (OPHC), acquired 531,178 shares of common stock on January 27, 2026. The transaction shows an acquisition price of $0.00 because the common shares were received in exchange for 65 shares of Series B Convertible Preferred Stock. The Form 4 also reports the disposition of those 65 preferred shares (derivative security) as part of the same exchange.

Key Details

• Transaction date: January 27, 2026. Filing date: January 30, 2026 (appears to be one business day late vs. the typical 2-business-day Form 4 deadline).
• Transaction type/code: Reported as "Other acquisition or disposition" (code J).
• Shares acquired: 531,178 common shares at $0.00 (total cash paid = $0).
• Securities disposed: 65 shares of Series B Convertible Preferred Stock (reported as disposed at $0.00).
• Footnotes: F1 — 65 Series B preferred shares were exchanged for 531,178 common shares. F2 — The transfer was made under an Exchange Agreement dated January 27, 2026 and was not a conversion under the Series B terms.
• Shares owned after transaction: Not specified in the provided filing fields.

Context This was an in-kind exchange of preferred shares for common stock rather than an open-market purchase or cash sale. Such exchanges often reflect corporate financing or restructuring actions and do not necessarily indicate personal buying/selling intent by the insider. Because no cash was paid, treat this as a change in the form of ownership rather than a market-value investment signal.