Cogley Brian 4

What Happened Brian Cogley, Chief Financial Officer of Z Squared, was granted two equity awards on April 27, 2026: a stock option covering 100,000 shares (reported as a derivative grant) and 16,447 restricted stock units (RSUs). The Form 4 shows $0 acquisition price because these are awards; the RSUs were valued at $250,000 in the grant calculation (see footnotes for details).

Key Details

• Transaction date: April 27, 2026; Form 4 filed April 30, 2026.
• Awards reported as "A" (grant/award): 100,000-share stock option and 16,447 RSUs.
• RSU value: the 16,447 RSUs were determined by dividing $250,000 by the April 27, 2026 Nasdaq closing price (rounded down).
• Option exercise price: set equal to the fair market value of the common stock on the grant date (per footnote), so no cash was paid at grant.
• Vesting:
  • Option: vests in full only when the stock’s fair market value increases 50% above the grant-date FMV (board determines FMV); option term is 10 years from grant (subject to plan/award agreement).
  • RSUs: vest in equal quarterly installments over one year beginning April 27, 2026; RSUs have no expiration date and convert to shares on vesting.
• Shares owned after transaction: not specified in the provided filing.
• Filing timeliness: Form 4 was filed April 30, 2026 and covers the April 27, 2026 grants (no late‑filing flag provided in the supplied data).

Context

• RSUs represent a contingent right to receive shares upon vesting; they are compensation rather than an open-market purchase, so they are standard executive pay rather than a direct bullish market bet.
• The option’s vesting condition (full vest only after a 50% increase in FMV) is performance-linked rather than time-based, aligning pay with share-price appreciation before the option becomes exercisable.