KUKES SIMON G 4
4 · PEDEVCO CORP · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
PEDEVCO (PED) 10% Owner Simon Kukes Converts 30.82M Shares
What Happened
Simon G. Kukes, a reported 10% owner of PEDEVCO Corp (PED), converted Convertible Series A Preferred Stock into common shares on February 27, 2026. The filing reports the acquisition of a total of 30,819,954 common shares (28,018,140 + 2,801,814) via conversion/exercise (transaction code M). The conversion was non‑cash — the reported price is $0.00 — pursuant to the preferred-stock terms (10-for-1 conversion ratio).
Key Details
- Transaction date: 2026-02-27 (Automatic Conversion Date per footnote).
- Filing date: 2026-03-03 — filed within the Form 4 two-business-day window (timely).
- Shares acquired: 30,819,954 common shares total (28,018,140 + 2,801,814). Reported acquisition price: $0.00 (non-cash conversion).
- Footnotes: F1 — Series A Preferred automatically converted at a 10-for-1 ratio; F3 — preferred became convertible after a 20‑calendar‑day period following shareholder information statement distribution; F2 — Kukes disclaims beneficial ownership except for any pecuniary interest.
- Shares owned after transaction: not specified in the excerpt provided.
- Form notes: See referenced Powers of Attorney in earlier Form 4 filings (Exhibits 24.1 and 24.3).
Context: This was an automatic conversion of convertible preferred stock into common shares (derivative conversion), not an open‑market purchase or sale. Because it was a non‑cash, contractual conversion, it reflects a structural change in the company’s capitalization rather than a discretionary buy/sell decision by the insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-27+28,018,140→ 79,809,465 total(indirect: By Trust) - Exercise/Conversion
Series A Convertible Preferred Stock
[F3]2026-02-27+2,801,814→ 0 total(indirect: By Trust)→ Common Stock (28,018,140 underlying)
- 3,000(indirect: By Spouse)
Common Stock
- 8,121,950
Common Stock
Footnotes (3)
- [F1]On the Automatic Conversion Date (defined below), the Convertible Series A Preferred Stock converted into common stock of the Issuer automatically pursuant to its terms based on a conversion ratio of 10-for-1.
- [F2]Except to the extent of his pecuniary interest therein this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
- [F3]Convertible Series A Preferred Stock was not convertible until the expiration of the twenty calendar day period (the "Automatic Conversion Date") commencing on the distribution to the Issuer's shareholders in accordance with Rule 14c-2 of Regulation 14C promulgated under the Securities and Exchange Act of 1934, as amended, of an information statement disclosing, among other things, the approval of such conversion and related matters by the majority stockholders of the Issuer which occurred on October 31, 2025, which Automatic Conversion Date was February 27, 2026.