Francisco Trust under agreement dated February 28, 1996 4

What Happened
Francisco Trust (under agreement dated Feb 28, 1996), a reported 10% owner of Dyadic International, sold a total of 95,392 shares of DYAI across three open-market/private-sale transactions on July 22–24, 2026. Breakdown: 38,016 shares @ $1.33 on 7/22 ($50,481), 54,760 shares @ $1.30 on 7/23 ($71,303), and 2,616 shares @ $1.21 on 7/24 ($3,173). Total reported proceeds were approximately $124,957. These were sales (code S), not purchases.

Key Details

• Dates & prices: 7/22/2026 — 38,016 sh @ $1.33 ($50,481); 7/23/2026 — 54,760 sh @ $1.30 ($71,303); 7/24/2026 — 2,616 sh @ $1.21 ($3,173).
• Total shares sold: 95,392; total proceeds: ~$124,957.
• Transaction type: Open market or private sale (Form 4 code S).
• Filing: Report filed 2026-07-24 covering trades on 7/22–7/24; filing appears timely based on the reported dates.
• Shares owned after transaction: Not disclosed in the provided filing.
• Insider status: Holder is a 10% owner (institutional/trust), not an executive—different regulatory/interpretive implications from officer/director trades.

Context
Sales by a 10% owner can reflect portfolio management or liquidity needs and are not the same signal as an executive buying stock. This filing documents routine disposition of shares rather than purchases; purchases usually carry clearer bullish implications.