Tirman Matthew 4

What Happened

• Matthew Tirman, President of Satellogic (SATL), had restricted stock units (RSUs) convert to common shares on March 20, 2026. A total of 33,896 RSUs vested (23,303 from a 2024 grant and 10,593 from a 2025 grant). No cash was paid for the shares (reported price $0.00). Of the vested shares, 10,098 were withheld to satisfy withholding/tax obligations (6,942 and 3,156 respectively), leaving him with 23,798 newly issued shares (16,361 + 7,437).

Key Details

• Transaction date: 2026-03-20; Form 4 filed: 2026-03-24 (filing appears timely).
• Transaction type/code: M — exercise/conversion of derivative (RSU vesting and conversion to common stock).
• Share counts and prices:
  • 23,303 RSUs vested from 6/7/2024 grant; 6,942 withheld; 16,361 net issued; $0.00 price.
  • 10,593 RSUs vested from 6/23/2025 grant; 3,156 withheld; 7,437 net issued; $0.00 price.
  • Total vested: 33,896; total withheld: 10,098; total net received: 23,798.
• Shares owned after the transaction: not specified in the filing.
• Footnotes: Grants were made 6/7/2024 (372,841 RSUs) and 6/23/2025 (169,492 RSUs) with quarterly vesting schedules; the withholding reflects taxes due on vesting.

Context

• These entries reflect routine RSU vesting and tax-withholding, not an open-market purchase or sale. The conversion was not a cash purchase (price $0.00); tax withholding was handled via share retention (common practice).
• Such administrative vesting transactions are not direct buy/sell signals about near-term insider sentiment, but they do increase the insider's shareholding unless shares are subsequently sold.