Baxter Nathan Eric 4

What Happened
Nathan Eric Baxter (reported as a 10% owner) acquired two types of securities on Jan 30, 2026. He received a grant/award of 59,298 derivative shares (reported as an A—award/grant transaction, $0 reported price) and separately acquired 96.284 shares at $51.93 each for a total cash outlay of $5,000 (reported as a J—other acquisition). The cash purchase is small in dollar terms; the award increases his reported beneficial interest in the company.

Key Details

• Transaction dates: January 30, 2026 (both transactions). Form filed Feb 3, 2026 (timely).
• Purchase: 96.284 shares @ $51.93 = $5,000 total.
• Award: 59,298 shares @ $0 (derivative award/grant). Report lists these as a derivative acquisition (code A).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: F1 states Baxter may be deemed a beneficial owner of securities held by Hagedorn Partnership, L.P. (he is a general partner); the footnote reports his aggregate proportionate interest in partnership-held common shares.
• Filing timeliness: Filed Feb 3, 2026 for a Jan 30 transaction — appears timely (not marked late).

Context

• The 59,298-share item is a grant/award (derivative) reported at $0 on the Form 4; this typically reflects issuance of restricted stock/awards or other non‑cash grants rather than an open‑market purchase. It does not necessarily indicate an immediate sale.
• As a reported 10% owner (via the partnership note), Baxter’s transactions reflect ownership/partnership-level activity rather than routine executive day‑trading. Purchases and awards can matter to investors but do not by themselves explain motivation.