POWER JOHN C /CA/ 4

What Happened
John C. Power (reported as a 10% owner) made open-market purchases and received an award on May 18, 2026. He purchased 2,602 shares at $0.33 ($846) and 7,500 shares at $0.33 ($2,475) for a total cash outlay of $3,321. In addition, he acquired 40,808 shares via a grant/award reported at $0.00 (derivative acquisition).

Key Details

• Transaction dates: May 18, 2026 (purchases and award). Form 4 filed May 20, 2026 reporting the May 18 transactions.
• Purchases: 2,602 shares @ $0.33 ($846) and 7,500 shares @ $0.33 ($2,475); total purchased = 10,102 shares for $3,321.
• Award/derivative: 40,808 shares acquired at $0.00 (reported as a grant/award).
• Shares owned after the transactions: not specified in the provided data.
• Footnotes: counts and exercise prices were adjusted to reflect a 1-for-9.9 reverse stock split on April 2, 2026. Footnotes also indicate certain options/exercise prices were adjusted and that common stock options were issued under the company’s 2020 Equity Incentive Plan.
• Filing timeliness: Form 4 was filed May 20, 2026 for transactions dated May 18, 2026 (reported two days later).

Context

• The purchases are cash buys (open market/private purchase code P), which retail investors often view as a more direct sign of insider buying than awards. The 40,808-share item is a derivative award (code A) reported at $0.00; footnotes reference equity incentive plan grants and reverse-split adjustments.
• As a 10% owner, Power is a major shareholder; this filing reflects both direct purchases and an equity award rather than a routine sale. This report is factual and does not imply motivation.