ONE Nuclear (ONEN) Director Daniel Hennessy Exercises/Converts Derivatives

What Happened Daniel J. Hennessy, a director (reported via Sponsor), reported multiple derivative exercises/conversions on September 23, 2026. The filing shows acquisition of 5,203,333 shares and 41,666 shares (total 5,244,999) via conversion/exercise (transaction code M), and reported dispositions of 5,203,333 shares and 500,000 shares (total 5,703,333) at $0.00 (derivative dispositions). The $0.00 disposition amounts indicate these were transfers/conversions rather than open-market cash sales.

Key Details

• Transaction date: 2026-09-23. Transaction code M (exercise or conversion of derivative securities).
• Shares acquired: 5,203,333 + 41,666 = 5,244,999 shares (via conversion/exercise).
• Shares disposed/transferred: 5,203,333 + 500,000 = 5,703,333 shares reported disposed at $0.00.
• Reported price/proceeds: $0.00 for dispositions (derivative transfer / conversion).
• Shares owned after transaction: Not specified for Mr. Hennessy individually in the filing; HC VII Sponsor LLC is the record holder and remains the reporting entity. Mr. Hennessy is disclosed as a possible beneficial owner through Hennessy Capital Group LLC but disclaims ownership where he has no pecuniary interest (see footnote F4).
• Notable footnotes: Multiple merger- and domestication-related conversions (F1–F7) describe the business combination and automatic conversions of predecessor securities into successor common shares and rights; Sponsor remains record holder.
• Filing timeliness: Filed with a report date and filing date of 2026-09-23 (no late filing indicated).

Context

• Transaction code M indicates exercise or conversion of derivative securities (e.g., options, warrants, or other rights). The $0.00 disposition entries typically reflect internal conversions or transfers tied to the merger/domestication mechanics rather than market sales for cash.
• The filing shows Sponsor-related holdings and conversions tied to the company’s business combination and domestication (see footnotes). Because the Sponsor is the record holder and Mr. Hennessy may only have shared or indirect control, this report is tied to Sponsor-held securities rather than a straightforward personal buy/sell by the director.
• This summary is factual; the filing does not provide statements of motive. Purchases (cash outlays) generally carry stronger signals than conversions/transfers; here the activity appears administrative/transactional in connection with the corporate reorganization and Sponsor holdings.