Ericson Christian 4

What Happened

• Ericson Christian, Chief Operating Officer of Red Cat Holdings (RCAT), had restricted stock units (RSUs) vest on March 11, 2026. The filing shows a conversion/exercise of 25,000 RSUs into common shares and related tax withholding where 7,870 shares were surrendered at $14.67 per share, yielding $115,453. The filing also records the related derivative cancellation/settlement tied to the RSU conversion.

Key Details

• Transaction date: March 11, 2026 (Form filed March 13, 2026; filing marked late).
• Actions reported: M = exercise/conversion of derivative (25,000 RSUs converted to shares); F = tax withholding (7,870 shares withheld/disposed at $14.67 each for $115,453).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 — each restricted stock unit equals a contingent right to one share; F2 — these 25,000 RSUs are half of a 50,000-RSU grant given on March 31, 2025 that vests 50% on March 11, 2026 and 50% on March 11, 2027.
• Filing timeliness: Marked late in the submission metadata.

Context

• This was a routine RSU vesting and tax-withholding event (not an open-market purchase or discretionary sale). The withholding of 7,870 shares was to satisfy tax liabilities from the vesting (common in cashless settlements). Such transactions typically reflect compensation settlement rather than a directional insider trade signal.