MALONEY MICHAEL STEPHEN 4

What Happened
Michael Stephen Maloney, a director of Bitmine Immersion Technologies, converted/exercised derivatives (RSUs) on April 23, 2026. The filing shows 3,999 shares were acquired upon conversion at $0.00 and the same 3,999 shares were simultaneously reported as disposed at $0.00 (total cash value reported: $0). This transaction reflects RSU settlement rather than a cash purchase.

Key Details

• Transaction date: 2026-04-23. Report filed: 2026-04-23 (timely). Transaction code: M (exercise/conversion of derivative).
• Shares acquired: 3,999 at $0.00. Shares disposed: 3,999 at $0.00. Reported cash consideration: $0.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1–F3 indicate these were RSUs settled upon vesting; each RSU equals one share. The RSUs were part of a 2026 Award granted Jan 23, 2026 and vest in four equal quarterly installments (25% each) over 12 months, subject to continued service.
• No 10b5-1 plan, tax-withholding detail, or sale price is disclosed in the excerpt.

Context
This was a conversion/settlement of restricted stock units (derivative to common stock). The simultaneous acquisition and disposition of the same number of shares often reflects RSU settlement mechanics (and potentially transfers to satisfy withholding or transfers out of the account), not necessarily a market buy or a straightforward open-market sale. Because the filing reports $0.00 consideration, no cash payment was made to acquire these shares.