SurgePays (SURG) Director David N. Keys Receives Award

What Happened

• David N. Keys, a director of SurgePays, was granted 315,179 restricted shares on July 31, 2026. The award was reported as an acquisition (Form 4 code A) at $0.00 per share (no cash paid). The RSA is governed by the SurgePays 2022 Omnibus Securities and Incentive Plan.

Key Details

• Transaction date: July 31, 2026; Filing date (Form 4): September 14, 2026 (late filing).
• Shares granted: 315,179 restricted shares; reported acquisition price: $0.00 (nominal cash paid).
• Vesting: Shares vest on the earlier of (i) Director ceasing to serve other than for Cause, (ii) a Change of Control, or (iii) June 24, 2029 (per the Restricted Share Award Agreement).
• Beneficial ownership note: Footnote indicates 96,880 shares issuable under prior restricted awards are included in reported ownership; the filing excludes certain IRA-held shares (1,666 and 5,378) and 10,000 shares held by PCC Holdings LLC that are deemed to be owned by Mr. Keys.
• Late filing: The Form 4 was filed roughly six weeks after the transaction date; late filings can delay public transparency but do not by themselves change the economics of the award.

Context

• This was a restricted share award (grant), not an open-market purchase or sale. Such awards compensate or retain insiders and typically vest over time or on specific events; they do not signal an immediate cash investment or divestment by the insider.