Thomas Hans 4

What Happened
Thomas Hans, a director of CEA Industries (ticker: BNC), reported exercising 831,683 strategic-advisor warrants into common stock on October 8, 2025 (exercise reported at $0.00). The Form 4 also shows several other derivative transfers and assignments: dispositions of 350,000 (Sept 22, 2025), 2,376,239 (Oct 1, 2025) and 250,000 (Dec 3, 2025) warrants/derivative interests, plus an acquisition entry for 831,683 warrants on Oct 1, 2025. All reported transactions list $0 consideration and relate to derivative instruments (warrants), not open-market cash trades.

Key Details

• Primary exercise: 831,683 warrants converted to common shares on 2025-10-08; reported price $0.00.
• Other reported derivative transactions: 350,000 (2025-09-22, disposition), 2,376,239 (2025-10-01, disposition), 831,683 (2025-10-01, acquisition), 250,000 (2025-12-03, disposition). All reported at $0.00.
• Filing date: March 2, 2026; period covered includes Sept–Dec 2025 — filing was submitted several months after the transactions.
• Shares owned after the transactions: not specified in the provided filing details.
• Notable footnotes: F1 = exercise of warrants; F3/F5/F7 = assignments/transfers of Strategic Advisor Warrants among 10X-related parties; F2/F4/F6 = Hans is/was manager of several 10X entities and disclaims beneficial ownership except to extent of pecuniary interest.

Context
These entries involve warrants and internal transfers among related 10X entities rather than typical open-market buys or sales. The $0.00 amounts and footnotes indicate exercises and assignments (including transfers to third parties and between 10X affiliates) rather than standard cash purchases; such transfers and manager-disclaimers mean these moves may reflect contractual/organizational actions more than a director’s independent market bet.