Renda Rudolph V. 4

What Happened

• Renda Rudolph V., a reported 10% owner of Southland Holdings, had 15,706 restricted stock units (RSUs) vest on June 25, 2026. Those RSUs were converted/exercised into 15,706 common shares (derivative code M) and the same 15,706 shares were disposed/transferred at $0.00 the same day.
• The filing shows no cash sale — the shares were transferred to family trusts (see footnotes) rather than sold in the open market, so there were no proceeds reported.

Key Details

• Transaction date: 2026-06-25. Exercise/conversion (M) — 15,706 shares acquired; 15,706 shares disposed at $0.00.
• Net effect: zero net sale/purchase (15,706 acquired and 15,706 transferred). Filing does not list a cash value for the transfer.
• Ownership after transaction: the filing doesn’t state a total post-transaction share count for the reporting person; the 15,706 shares were reported as held by family trusts (Trusts A–D per footnotes).
• Notable footnotes: F1 explains RSU = one common share; F7 confirms these 15,706 shares are one-third of a 47,118 RSU award granted 6/25/2024 that vests in three annual tranches; F2–F6 indicate the shares are held directly by family trusts for which the reporting person is sole trustee; F3 disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing timing: report filed 2026-06-29 for a 2026-06-25 transaction — this appears outside the typical two-business-day Form 4 window and may be considered late.

Context

• These were RSU vesting and conversion transactions, not open-market purchases or cash sales. The shares were transferred to family trusts (disposition at $0), which commonly reflects internal transfers or estate/planning moves rather than a liquidity-driven sale.
• As a 10% owner, Renda’s transactions are reported under Section 16 rules; such transfers to trusts and disclaimers of beneficial ownership (F3) are common and do not necessarily indicate a change in market sentiment by management.