Red Cat Holdings: director Funk Paul II received 868 shares

What happened

• Funk Paul II, a director, received 868 shares on Oct 2, 2026 via exercise/conversion of a derivative (transaction code M). The Form 4 shows an acquired entry for 868 shares at N/A and a disposed entry for 868 shares at $0.00 (derivative).

Key details

• Transaction date and prices: Oct 2, 2026 — acquired 868 shares at N/A; disposed 868 shares at $0.00. Transaction code: M (exercise/conversion of derivative).
• Shares owned after the transaction: not reported in the filing.
• Relevant footnote: F1 — 868 restricted stock units were granted on Oct 2, 2025 and vested on Oct 2, 2026; this transaction represents settlement of those RSUs in shares on the scheduled vesting date.
• Form 4 filing date and report period: filed Oct 6, 2026 for the period ending Oct 2, 2026.

Why it may matter

• The filing records a conversion/settlement of restricted stock units into common shares rather than a market purchase or sale.
• A filing does not show why the insider traded or why the company acted.