Stanton Carl 4

What Happened

• Stanton Carl, a director of DevvStream Corp. (DEVS), was involved in a conversion of derivative securities on 2026-03-13 that resulted in 2,526,405 common shares being recorded at roughly $0.90 per share (total ~ $2,280,333). The Form 4 shows a conversion (transaction code C) reflecting both the acquisition of those shares and a corresponding disposition entry for the derivative interest.
• Footnote F1 explains the details: Focus Impact Partners, LLC (FIP) — which provided consulting services and had made loans to DevvStream under two convertible promissory notes — entered a Conversion Agreement to convert amounts owed into 2,526,405 common shares at a per-share price of $0.9026. FIP is controlled by Wray T. Thorn and Stanton Carl, the reporting person.

Key Details

• Transaction date: 2026-03-13; Form 4 filed: 2026-03-20 (filed 7 days after the transaction).
• Reported per-share amount on the transaction lines: $0.90; conversion agreement footnote lists $0.9026/share. Total value ≈ $2,280,333.
• Shares resulting from conversion: 2,526,405 common shares. (The filing does not state Carl’s total shares owned after the transaction.)
• Transaction type: Conversion of derivative security (code C) — debt (convertible notes) converted into equity.
• Related-party note: The converting holder was Focus Impact Partners, LLC, an entity controlled by the reporting person and another controller (Wray T. Thorn).
• Timeliness: The filing was submitted 7 days after the transaction; Section 16 insiders typically must report within 2 business days, so this appears to be later than the usual deadline.

Context

• This was not an open-market purchase or sale: it was a conversion of debt into equity by a related-party creditor. Conversions like this replace debt with shares rather than representing a market buy or sell.
• The dual entries (acquisition and disposition) reflect the mechanics of converting convertible notes held by a related entity and reporting the resulting change in derivative interests; they do not necessarily indicate an immediate market sale of stock.