BSG Series CM, LLC 4

What Happened

• BSG Series CM, LLC (a 10% owner of Z Squared, ticker ZSQR) completed a pro rata distribution of all 41,521,276 shares of ZSQR common stock it held on April 30, 2026. The shares were distributed to its members in accordance with their membership interests. The reported disposition price was $0.00, so no monetary consideration was paid or received.

Key Details

• Transaction date: 2026-04-30; Filing date: 2026-05-15 (Form 4 filed 15 days after the distribution — late filing).
• Transaction type/code: "Other acquisition or disposition" (code J) — recorded as a disposition of 41,521,276 shares at $0.00 (total $0).
• Shares owned after transaction: 0 by the reporting entity (BSG Series CM, LLC).
• Footnotes: F1 — distribution was pro rata to members; no cash exchanged. F2 — reporting person no longer beneficially owns ZSQR shares and this is its final Section 16 report.
• This filing reports an institutional distribution, not an executive sale or purchase.

Context

• This was a transfer (distribution) of ownership within the reporting entity to its members, not an open-market sale; the $0 reported price reflects that no cash changed hands. As a result, it does not directly signal buying or selling interest in the public market by the reporting entity itself. Because the reporting entity is a 10% owner (an institutional holder), the filing reflects a structural change in ownership and the reporting person’s Section 16 reporting status rather than a typical insider trade.