Polar Power (POLA) Director Shalom Menachem Sells Shares

What Happened

• Shalom Menachem, a director of Polar Power, reported disposals on 2026-09-02 of derivative securities tied to the issuer: rights covering up to 763,889 shares (convertible note) and 83,841 shares (warrant), for a combined maximum of 847,730 shares. The Form 4 lists these as sales/derivative disposals; the assignment of the note and warrant was reported in a related agreement for an aggregate purchase price of $325,000. Per the filing the per‑share conversion/pricing is variable and reported as N/A.

Key Details

• Transaction date: September 2, 2026; Form 4 filed September 8, 2026 (6 days later).
• Reported amounts: 763,889 shares (convertible note) and 83,841 shares (warrant); total 847,730 shares (maximum issuable based on floor pricing assumptions).
• Consideration: The assignment of the convertible note and warrant was for an aggregate purchase price of $325,000 (see footnote).
• Price per share: N/A on the Form 4 because these were derivative instruments with variable conversion pricing.
• Shares owned after transaction: Not specified in the filing.
• Beneficial ownership note: The securities were held by Mayers Ventures LLC and may be indirectly attributable to Menny (Menny) Shalom; Mr. Shalom disclaims beneficial ownership except for any pecuniary interest (see filing footnote).

Context

• These were disposals/assignments of derivative instruments (a convertible note and a common stock purchase warrant), not direct open‑market sales of existing common stock. The convertible note converts at 90% of the lowest daily VWAP over a 7‑day lookback subject to a floor price, so the exact number of shares issuable is variable and the reported totals reflect a maximum assuming the floor conversion price.
• For retail investors: derivative assignments like this transfer the right to receive common stock in the future rather than representing an immediate sale of currently held shares; they can dilute shareholders if converted, but do not necessarily signal the director's personal sale of owned common stock. The filing was submitted several days after the reported transaction date, which may be later than the typical 2‑business‑day Form 4 deadline.