BAQAR HASSAN 4

What Happened
Baqar Hassan, a director of Greenland Energy Company (GLND), made multiple acquisitions and a conversion of derivative securities. The largest open-market purchase was 45,000 common shares on May 4, 2026 at a weighted average price of $2.90 per share ($130,500). He also acquired 25,000 public warrants (GLNDW) on May 4, 2026 at a weighted average ~ $1.00 each ($24,975). Separately, on December 5, 2025 he bought 30,000 Pelican Rights (derivative rights) at about $0.299 each; those rights converted on March 25, 2026 into 3,000 common shares at an effective cost basis of ~$2.99 per share. No outright sales of common stock are reported in this filing.

Key Details

• Transactions:
  • 2026-05-04: Open-market purchase — 45,000 common shares at $2.90 (weighted avg) — total ~$130,500. (Footnote F2)
  • 2026-05-04: Open-market purchase — 25,000 public warrants (GLNDW) at ~$1.00 each — total ~$24,975. (Footnotes F4, F5)
  • 2025-12-05: Open-market purchase — 30,000 Pelican Rights at ~$0.299 per right (each 10 rights = 1 share). (Footnote F1)
  • 2026-03-25: Conversion of 30,000 Pelican Rights into 3,000 Greenland Energy common shares; the rights were effectively disposed/converted and 3,000 shares were acquired (cost basis ≈ $2.99/share). (Footnote F1)
• Shares/warrants reported acquired: common shares and warrants; the filing lists derivative conversions (rights → shares) and warrant purchases.
• Shares owned after the transactions: not specified in the excerpt provided.
• Notable footnotes:
  • F1 explains the Pelican Rights purchase and automatic conversion to 3,000 shares and notes these were omitted from an earlier Form 3.
  • F2 and F5 note reported prices are weighted averages over multiple trades; issuer/SEC can request breakdowns.
  • F3 describes 375,000 warrants issued in the business combination (background holding).
  • F4 describes the 25,000 public warrants (GLNDW) purchased.
• Timeliness: Filing flagged as late (timeliness = L); late filings can delay public disclosure of insider activity.

Context

• The Pelican Rights were derivative securities that automatically converted into ordinary shares upon the company’s business combination closing — this is a conversion of rights, not a market sale. The rights themselves were treated as disposed when converted to common shares.
• The 25,000 GLNDW instruments are public detachable warrants exercisable for common stock at $11.50 per share (per the filing footnote).
• These are purchases (insider buys are often watched by investors as potentially positive signals), and no immediate sales of the newly acquired shares were reported in this Form 4.