SWETS LARRY G JR 4

What Happened

• Director Larry G. Swets Jr. acquired 25,000 derivative securities (public warrants) of Greenland Energy Co. on May 13, 2026. The purchase price was $2.98 per warrant for a total cash outlay of $74,500. The filing lists the transaction code "P" (purchase) and classifies the securities as derivatives (warrants).

Key Details

• Transaction date and filing date: 2026-05-13 (filed same day).
• Securities acquired: 25,000 public warrants (reported as derivative securities) at $2.98 each; total = $74,500.
• Exercise terms (footnote F2): these public warrants (ticker GLNDW) are each exercisable for one share of common stock at an exercise price of $5.00 per share; they were acquired in open market purchases.
• Additional warrant holdings noted (footnote F1): the reporting person also holds warrants issued in the company’s business combination, exercisable at $15.00 per share (separate from this purchase).
• Shares owned after transaction: not specified in the Form 4 filing.
• Timeliness: Filed the same day as the transaction (no late filing indicated).

Context

• These were purchases of warrants (a derivative), not purchases of common stock. A warrant gives the holder the right (but not the obligation) to buy one share at the stated exercise price ($5.00 for the public warrants acquired).
• To convert these warrants into shares, the holder would need to pay the $5.00 exercise price per warrant in addition to the $2.98 purchase cost paid here. This transaction increases the director’s exposure to potential upside in the company without immediately increasing his common-stock holdings.