Veradace Partners LP 4

What Happened

• Veradace Partners LP (reported as a 10% owner; Veradace Capital Management is the fund’s manager) executed same‑day derivative activity on 2026-03-20. The filing reports an exercise/conversion (code M) that resulted in acquisition of 50,000 SoundThinking (SSTI) shares at $7.50 per share (cash paid $375,000), and a simultaneous reported disposition of 50,000 shares at $7.50 per share (proceeds $375,000). The two entries offset each other, so the filing shows no net increase in shares from these transactions.

Key Details

• Transaction date: 2026-03-20; Form 4 filed: 2026-03-24 (timely).
• Prices: $7.50 per share; values for each leg: $375,000.
• Transaction code: M (option exercise/conversion).
• Shares owned after transaction: not disclosed in the supplied summary of the Form 4.
• Notable footnotes: the disposition leg reflects assignment on previously written put options that were automatically exercised by the broker; reported prices reflect the strike price. Multiple same‑day trades were aggregated using a weighted average price (per SEC no‑action guidance).
• Reporting status: the filing notes Veradace is the investment manager holding the securities and that affiliated persons may be deemed to share beneficial ownership; an amendment to Form 3 will be filed to add additional reporting persons once EDGAR access is available.

Context

• For retail investors: an option exercise (M) means the holder converted options into stock by paying the strike price. The disposition here resulted from assignment on written puts (broker‑executed), not an open‑market sale by an individual insider. Because the acquiring and disposing legs offset, this filing does not clearly signal a net buy or sell intent by the fund. Also note this is institutional (10% owner/manager activity), not an executive insider trade.