Standard Nuclear (STDN) Chairman Thomas Hendrix Receives RSU Award

What Happened

• Hendrix Thomas Edward (reported as the Executive Chairman and Director) was awarded 2,734,687 restricted stock units (RSUs) on 2026-07-17 (grant price $0.00). He also recorded conversions of derivative securities totaling 70,308 shares (50,000 and 20,308) at $0.00. Separately, 5,824,308 shares of Class A Common Stock held by a trust were disposed of by the trust and exchanged for 5,824,308 newly issued shares of Class B Common Stock pursuant to an exchange agreement (no cash changed hands; reported as $0 or N/A for price/value).

Key Details

• Transaction date: 2026-07-17 (filing accession 0001628280-26-048735).
• RSU grant: 2,734,687 shares @ $0.00 (total reported $0). RSUs vest over three years in quarterly installments of 1/12th (footnote F1).
• Conversions: 50,000 and 20,308 shares converted from derivative securities @ $0.00 (total 70,308 shares).
• Trust exchange/disposition: 5,824,308 Class A shares were exchanged for 5,824,308 Class B shares under an Exchange Agreement (footnote F4); reported as a disposition of Class A and an acquisition of Class B (price reported as $0 or N/A).
• Beneficial ownership: The Reporting Person has indirect beneficial ownership of the trust's shares; a trustee (Andrew Price) holds the trust but the Reporting Person has sole voting and dispositive power per a voting agreement (footnote F2).
• IPO-related conversions: Preferred shares converted 1-for-1 into Class A Common in connection with the IPO (footnote F3).
• Class B convertibility: Each Class B share is convertible into one Class A at the Reporting Person’s option or upon certain events (footnote F5).
• Filing timeliness: Transactions and the Form 4 are dated the same day (no late filing indicated).

Context

• These are primarily non‑cash corporate-structure and compensation events: an equity compensation grant (RSUs), conversions tied to IPO-related preferred conversions, and an in-kind exchange of Class A to Class B shares held by a trust. Such transactions do not reflect an open-market buy or sale for cash and are common around IPOs and related corporate restructurings.
• RSUs vest over time and are subject to continued service; converted and exchanged shares reflect ownership structure changes rather than immediate liquidity events.