Cox Kevin Brian 4

What Happened
Kevin Brian Cox, a 10% owner of SurgePays (SURG), acquired stock in two ways and made a gift. On March 23, 2026 he converted $1,000,000 of promissory debt into 800,000 shares at $1.25/share (value = $1,000,000). On April 1, 2026 the company awarded him 500,000 shares under his amended employment agreement (reported at $0 price in the filing). On March 24, 2026 he transferred (gifted) 270,745 shares to the LC Marital Trust dated May 17, 2021 (no consideration). Gifts are disposals for reporting purposes but do not necessarily indicate market sentiment; the conversion and award are acquisitions (net increase in his direct holdings).

Key Details

• Transaction dates/prices: 3/23/2026 — conversion 800,000 @ $1.25 (acquired); 3/24/2026 — gift 270,745 @ $0 (disposed); 4/1/2026 — award 500,000 @ $0 (acquired).
• Consideration: $1,000,000 paid by converting a promissory note into 800,000 shares (per footnote). The 500,000-share award was issued under his employment agreement and the company’s equity plan.
• Shares after transactions: Cox directly held 1,300,000 shares after the April 1 award. He is also deemed to beneficially own additional shares held by related entities/trusts: 270,745 (LC Marital Trust), 4,569,384 (BLC Family Investments LLC), and 561,758 (SMDMM Funding LLC) — total beneficial ownership = 6,701,887 shares.
• Filing date/timeliness: Form 4 was filed 2026-04-07 reporting transactions from 3/23–4/01; this appears later than the standard 2-business-day reporting window (filing flagged as late).
• Footnotes: conversion was pursuant to a consolidated promissory note (dated ~3/12/2024) and awards were issued under the issuer’s 2022 Omnibus Securities and Incentive Plan and an amended employment agreement.

Context: Converting debt into equity and receiving equity awards are commonly used to settle obligations and compensate executives; such acquisitions are generally more informative than gifts (which are non-market transfers). As a reported 10% owner, Cox’s transactions reflect changes in a large insider’s stake rather than routine open-market trading.