Horowitz Bradley 4

What Happened

• Bradley Horowitz, a director of Circle Internet Group (CRCL), was reported as acquiring 53 shares of the company's Class A common stock on May 11, 2026. The transaction is listed as an "Other acquisition or disposition" (code J) and shows no purchase price or cash paid (price listed as N/A) because it was an in‑kind distribution rather than a market purchase.
• The filing does not disclose a dollar value for the 53 shares. This was a distribution from Accel XI Strategic Partners L.P. to its limited partners (including an affiliated entity tied to Horowitz), not a typical open‑market purchase.

Key Details

• Transaction date: 2026-05-11; Filing date: 2026-05-13 (filed two days after the transaction, which appears timely under Form 4 rules).
• Price: N/A (in‑kind distribution; transaction code J).
• Reported holdings/context in the filing:
  • Footnote F1: 53 shares represent a pro‑rata in‑kind distribution from Accel XI to its limited partners, including the Dharma Revocable Living Trust (an affiliated entity).
  • Footnote F2: Some shares are held through a revocable grantor living trust; Horowitz disclaims beneficial ownership except to the extent of his pecuniary interest.
  • Footnote F3: The filing references 13,049 shares held outright by Horowitz and 11,624 shares issuable upon vesting of restricted stock units.
• No indication this was a gift intended to transfer value; it was a passive distribution from a fund.

Context

• In‑kind distributions (code J) are fund pass‑throughs to limited partners and do not reflect an open‑market buy or sell decision by the insider. Such distributions do not necessarily signal insider sentiment about the company’s prospects.
• For retail investors: this is an acquisition in form (shares added via distribution) but not the same as a director personally buying shares on the market.