Capital V LLC 4

What Happened

• Capital V LLC (a reported 10% owner) exchanged Class B units for Class A shares and sold 37,500 Class A shares in open-market transactions between Apr 20–22, 2026. The open-market sales generated about $410,942 (15,000 shares @ $11.12 = $166,797; 14,111 shares @ $10.91 = $154,017; 8,389 shares @ $10.74 = $90,128). The exchange/conversion entries show 37,500 shares were converted/exercised at $0 and related Class B common stock was cancelled for no consideration.

Key Details

• Transaction dates and weighted-average prices:
  • 2026-04-20: exercised/converted 37,500 units at $0.00 (resulting Class A shares); sold 15,000 shares @ weighted avg $11.12 (prices ranged $11.00–$11.40).
  • 2026-04-21: sold 14,111 shares @ weighted avg $10.91 (prices ranged $10.64–$11.46).
  • 2026-04-22: sold 8,389 shares @ weighted avg $10.74 (prices ranged $10.395–$10.94).
• Total proceeds from open-market sales ≈ $410,942.
• Shares owned after the transactions are not specified in the provided filing excerpt.
• Notable footnotes: sales were made under a 10b5-1 plan adopted Mar 18, 2025 (amended Sept 17, 2025). The filing discloses the Class B → Class A exchange mechanics and cancellation of Class B common stock for no consideration.
• Filing timeliness: Form 4 was filed on Apr 22, 2026 for trades occurring Apr 20–22, 2026 (no late filing indicated in the report).

Context

• This filing involves a 10% institutional owner (Capital V LLC), not an individual officer — institutional redemptions/exchanges and plan-based sales are often routine and governed by prior plans. The conversion at $0 reflects an exchange of Class B units into Class A shares (per footnotes) followed by open-market sales under a 10b5-1 plan.