Patel Prashant 4

What Happened

• Prashant Patel, CEO of Wellgistics Health, Inc. (WGRX), received compensation on March 31, 2026 consisting of 5,000,000 shares of common stock at $0.20 per share (total $1,000,000) and 5,000,000 warrants to purchase common stock at $0.01 each (total $50,000). Both grants are reported on a Form 4 as acquisitions (transaction code A) and were issued as compensation.

Key Details

• Transaction dates and prices:
  • 2026-03-31: 5,000,000 common shares acquired @ $0.20 each (total $1,000,000).
  • 2026-03-31: 5,000,000 warrants acquired @ $0.01 each (total $50,000).
• Consideration: Combined reported value of the awards = $1,050,000.
• Footnotes: Both the shares and warrants were issued as compensation and were exempt from registration under Section 4(a)(2) of the Securities Act (per filing footnotes).
• Shares owned after transaction: Not specified in the provided Form 4 information.
• Filing timeliness: The Form 4 was filed on 2026-04-23 — 23 days after the March 31 transaction date — which is later than the typical two-business-day reporting window for Form 4s.

Context

• The warrants are derivative securities (a right to buy shares later at specified terms) and are not the same as immediately held common shares; exercise would be required to convert warrants into shares.
• These transactions are awards/compensation (not open-market purchases or sales), so they reflect company-granted pay rather than an independent insider buy or sell.