Yoresh Eliyahu 4

What Happened
Yoresh Eliyahu, a director of Quantum X Labs Inc. (QXL), exercised a pre-funded warrant on May 31, 2026 to acquire 88,675 shares of common stock. The filing reports an acquired amount of 88,675 shares with a nominal reported value of $9; the exercise was paid on a cashless basis (no shares were withheld).

Key Details

• Transaction date: 2026-05-31.
• Action: Exercise of a pre-funded warrant converting to 88,675 common shares. Report shows an acquisition (88,675 shares) and a related derivative line; footnotes clarify the conversion.
• Price/consideration: Cashless exercise; exercise price effectively $0 for share withholding purposes; filing lists $9 in the acquisition value.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes: F1 — exercise was a cashless payment and no shares were withheld; F2 — the pre-funded warrants do not expire until fully exercised.
• Filing timeliness: Report filed 2026-06-01 for a 2026-05-31 transaction (appears timely).

Context
A pre-funded warrant exercise is a conversion of a derivative into common stock. Because this was a cashless exercise (no shares withheld for taxes or payment), it does not necessarily indicate a purchase with additional cash; it simply converts the warrant into shares. The filing contains a derivative-related line item but the footnotes make clear this was the warrant-to-stock conversion rather than a market sale.