Ketchum Stephen 4

What Happened
Stephen Ketchum, Chairman and a director of Sound Point Meridian Capital, Inc. (SPMC), acquired 1,000 shares of SPMC at $11.40 per share on February 13, 2026, for a total cost of $11,400. The transaction is reported as a purchase (code P), indicating an insider buy rather than a sale.

Key Details

• Transaction date and price: Feb 13, 2026 — 1,000 shares at $11.40 each. Total value: $11,400.
• Filing date: Feb 18, 2026 (filed 5 calendar days after the trade; this falls within two business days because Feb 16 was a federal holiday).
• Shares owned after transaction: Not specified in the excerpt provided.
• Footnote: The filing notes 815.039 shares are held by SPC Consolidator LLC, of which Ketchum is Managing Member; he may be deemed to share beneficial ownership of those shares but disclaims beneficial ownership except to the extent of his pecuniary interest (Footnote F1).
• Transaction type: Open-market or private purchase (reported as P). No options, awards, gifts, or tax-withholding transactions reported in this filing.

Context

• Insider purchases can be informative to investors because they represent insiders putting personal capital into the company; this particular purchase is relatively small ($11.4k) and should be weighed accordingly.
• There is no indication here of option exercises, immediate resale, or a trading plan (e.g., 10b5-1).