KTR Management Company, LLC 4

What Happened KTR Management Company, LLC (reported as a 10% owner of Solaris Energy Infrastructure, Inc. — SEI) converted 2,000,000 Solaris LLC units/Class B shares into Class A common stock and sold 2,000,000 shares in an open market/private sale on 2026-04-30. The shares were sold at $70.75 per share for total proceeds of $141,500,000. The filing also reports the cancellation of the related Class B shares for no consideration in connection with the unit redemption/conversion.

Key Details

• Transaction date: 2026-04-30.
• Open-market/private sale (Code S): 2,000,000 shares at $70.75 each — proceeds $141,500,000.
• Conversion of derivative security (Code C): 2,000,000 shares reported as acquired (conversion) at $0.00 and a corresponding disposal of a derivative security at $0.00 (reflecting the unit redemption/conversion mechanics).
• Other acquisition/disposition (Code J): 2,000,000 Class B shares cancelled for no consideration as part of the redemption.
• Shares owned after the transaction: not explicitly stated in the provided filing summary.
• Footnotes: Class B shares carried one vote but no economic rights; Solaris LLC Units (with corresponding Class B shares) are exchangeable for Class A common stock under the LLC agreement. John Tuma owns KTR and has sole voting/disposal authority over the securities held by KTR.
• Filing timeliness: Report filed 2026-05-04 for a 2026-04-30 transaction — appears timely under the Form 4 two-business-day rule.

Context This was primarily a conversion of LLC units/Class B shares into Class A stock followed by a large sale — a liquidity event by a 10% owner rather than an executive buy. Conversion entries at $0 reflect the exchange/redemption mechanics (not a cash purchase). Large sales by significant holders can be for many reasons (portfolio rebalancing, cash needs, etc.); the filing itself does not state the motive.