Lubin Joseph Michael 4
4 · Sharplink, Inc. · Filed Apr 16, 2026
Research Summary
AI-generated summary of this filing
Sharplink (SBET) Director Joseph Lubin Exercises Warrants
What Happened
- Joseph Michael Lubin, a director of Sharplink, exercised pre‑funded warrants on April 15, 2026, resulting in 11,817,165 new common shares being issued. The exercise was reported the next day (filed April 16, 2026).
- The form shows four exercise transactions (1,496,612; 3,966,340; 5,154,213; and 1,200,000 shares) with nominal cash amounts reported (aggregate cash reported ≈ $1,182). Several of the issued shares were held by related entities or transferred (including a 1,200,000‑share contribution to PHPC LLC and exercises by Consensys Software, Inc. and PHPC LLC).
Key Details
- Transaction date: April 15, 2026; Form filed: April 16, 2026 (timely under Section 16 reporting rules).
- Shares issued on exercise (total): 11,817,165 common shares.
- 5,462,952 shares issued to Consensys Software, Inc. (CSI) upon CSI exercising pre‑funded warrants.
- 5,154,213 shares exercised and held directly by Mr. Lubin.
- 1,200,000 shares issued to PHPC LLC (which was contributed/transferred to a family trust).
- Cash paid: nominal amounts shown on the form (aggregate reported ≈ $1,182).
- Notable footnotes: Mr. Lubin disclaims beneficial ownership of securities held by CSI, ConsenSys AG, PHPC LLC/Trust and certain funds, except to the extent of any pecuniary interest. He contributed 1,200,000 pre‑funded warrants to PHPC LLC and PHPC subsequently exercised them; PHPC interests were transferred to a trust for family members.
- Filing timeliness: filed one day after the transactions (appears timely).
Context
- These were exercises of pre‑funded warrants (derivative securities) rather than open‑market purchases or sales. The filing shows issuance and transfers among related entities and a family trust—gifts/transfers do not necessarily indicate market sentiment.
- Because many shares are held by related entities and Mr. Lubin disclaims beneficial ownership of those holdings for Section 16 purposes, retail investors should note these are corporate/structural movements rather than straightforward buy/sell signals.
Insider Transaction Report
Form 4
Sharplink, Inc.SBET
Lubin Joseph Michael
Director
Transactions
- Exercise of In-Money
Common Stock
[F1]2026-04-15$0.00/sh+1,496,612$150→ 1,710,612 total(indirect: By Consensys Software, Inc.) - Exercise of In-Money
Common Stock
[F2]2026-04-15$0.00/sh+3,966,340$397→ 5,676,952 total(indirect: By Consensys Software, Inc.) - Exercise of In-Money
Common Stock
2026-04-15$0.00/sh+5,154,213$515→ 5,154,213 total - Exercise of In-Money
Common Stock
[F3]2026-04-15$0.00/sh+1,200,000$120→ 1,200,000 total(indirect: By LLC) - Gift
Pre-Funded Warrants (Right to Buy)
[F6][F7]2026-04-15−1,200,000→ 5,154,213 totalExercise: $0.00From: 2025-05-29→ Common Stock (1,200,000 underlying) - Gift
Pre-Funded Warrants (Right to Buy)
[F6][F7]2026-04-15+1,200,000→ 1,200,000 total(indirect: By LLC)Exercise: $0.00From: 2025-05-29→ Common Stock (1,200,000 underlying) - Exercise of In-Money
Pre-Funded Warrants (Right to Buy)
[F8]2026-04-15−1,496,612→ 3,966,340 total(indirect: By Consensys Software, Inc.)Exercise: $0.00From: 2025-05-21→ Common Stock (1,496,612 underlying) - Exercise of In-Money
Pre-Funded Warrants (Right to Buy)
[F9]2026-04-15−3,966,340→ 0 total(indirect: By Consensys Software, Inc.)Exercise: $0.00From: 2025-05-29→ Common Stock (3,966,340 underlying) - Exercise of In-Money
Pre-Funded Warrants (Right to Buy)
[F6][F10]2026-04-15−5,154,213→ 0 totalExercise: $0.00From: 2025-05-29→ Common Stock (5,154,213 underlying) - Exercise of In-Money
Pre-Funded Warrants (Right to Buy)
[F6][F11]2026-04-15−1,200,000→ 0 total(indirect: By LLC)Exercise: $0.00From: 2025-05-29→ Common Stock (1,200,000 underlying)
Holdings
- 975,600(indirect: By ConsenSys AG)
Common Stock
[F4] - 81,300(indirect: By Ethereal Ventures Fund II L.P.)
Common Stock
[F5]
Footnotes (11)
- [F1]These shares of Common Stock, par value $0.0001 per share ("Common Stock") of the Issuer are held directly by Consensys Software, Inc. ("CSI"). Mr. Lubin is the Chief Executive Officer of CSI and may be deemed to control CSI. Mr. Lubin disclaims beneficial ownership of the securities of the Issuer held by CSI for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"), and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16, in each case except to the extent of his pecuniary interest therein. The amount in this column includes an aggregate of 1,496,612 shares of Common Stock issued to CSI upon the exercise of an equal number of pre-funded warrants by CSI on April 15, 2026.
- [F10]On April 15, 2026, after: (i) the contribution and transfer described in footnote 7 above; and (ii) the exercise of an aggregate of 5,462,952 pre-funded warrants by CSI, Mr. Lubin exercised the remaining pre-funded warrants held by him directly.
- [F11]On April 15, 2026, after: (i) the contribution and transfer described in footnote 7 above; and (ii) the exercise of an aggregate of 5,462,952 pre-funded warrants by CSI and the exercise of 5,154,213 pre-funded warrants by Mr. Lubin, PHPC LLC exercised all of the pre-funded warrants contributed to it by Mr. Lubin. Mr. Lubin disclaims beneficial ownership of these securities for purposes of Section 16, and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16, in each case except to the extent of his pecuniary interest therein.
- [F2]These shares of Common Stock of the Issuer are held directly by CSI. Mr. Lubin disclaims beneficial ownership of the securities of the Issuer held by CSI for purposes of Section 16, and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16, in each case except to the extent of his pecuniary interest therein. The amount in this column includes an aggregate of 3,966,340 shares of Common Stock issued to CSI upon the exercise of an equal number of pre-funded warrants by CSI on April 15, 2026.
- [F3]These shares of Common Stock of the Issuer are held directly by Permanent Highest Power Capital LLC ("PHPC LLC"), a limited liability company owned by Gradient Ascent Trust (the "Trust"). Mr. Lubin's son is a co-trustee of the Trust, and the beneficiaries of the Trust are members of Mr. Lubin's immediate family. Mr. Lubin is the manager of PHPC LLC. Mr. Lubin disclaims beneficial ownership of these securities for purposes of Section 16, and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16, in each case except to the extent of his pecuniary interest therein. The amount in this column consists of 1,200,000 shares of Common Stock issued to PHPC upon the exercise of an equal number of pre-funded warrants by PHPC on April 15, 2026.
- [F4]The securities are held directly by ConsenSys AG. Mr. Lubin is the Chairperson of the Board of Consensys AG and may be deemed to control CAG. Mr. Lubin disclaims beneficial ownership of these securities for purposes of Section 16, and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16, in each case except to the extent of his pecuniary interest therein.
- [F5]The securities are held directly by Ethereal Ventures Fund II L.P. ("Fund II"). The sole general partner of Fund II is Ethereal Ventures II Partners L.P., and its sole general partner is Ethereal Ventures II GP Ltd. Mr. Lubin has a 50% ownership interest in Ethereal Ventures II GP Ltd., and as a result, may be deemed to be a beneficial owner of the securities held by Fund II. Mr. Lubin disclaims beneficial ownership of these securities for purposes of Section 16, and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16, in each case except to the extent of his pecuniary interest therein.
- [F6]The holder of theses pre-funded warrants may, at any time and from time to time, exercise the pre-funded warrants for up to an equivalent number of shares of the Issuer's Common Stock until it has been exercised in full.
- [F7]On April 15, 2026, Mr. Lubin contributed 1,200,000 (of a total of 6,354,213) directly-held, pre-funded warrants to purchase up to 1,200,000 shares of Common Stock of the Issuer, to PHPC LLC, in exchange for all of the limited liability company interests of PHPC LLC; and immediately thereafter, transferred all of the limited liability interests of PHPC LLC to the Trust for no consideration. Mr. Lubin was initially (and remains) the manager of PHPC LLC. Mr. Lubin's son is a co-trustee of the Trust, and the beneficiaries of the Trust are members of his immediate family. Mr. Lubin disclaims beneficial ownership of these securities for purposes of Section 16, and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16, in each case except to the extent of his pecuniary interest therein.
- [F8]These pre-funded warrants were exercisable at any time and from time to time until exercised in full for up to an equivalent number of shares of Common Stock of the Issuer.
- [F9]These pre-funded warrants were exercisable at any time and from time to time until exercised in full for up to an equivalent number of shares of Common Stock of the Issuer.
Signature
/s/ Joseph Lubin|2026-04-16