MINERALRITE Corp: 10% owner Hendricks Lloyd Bernard III sold 3,919,388 shares

What happened

• Hendricks Lloyd Bernard III, a 10% owner, sold 3,919,388 shares at $27.23 on Sep 30, 2026, for $106,724,935. The Form 4 also reports exercises of in-the-money derivatives the same date: 6,900,000 shares exercised at $15.00 for $103,500,000; 47,600 shares exercised at $25.00 for $1,190,000; and 5,900 shares exercised at $25.00 for $147,500. The filing also shows corresponding derivative disposals at $0.00 for the exercised quantities.

Key details

• Transaction date: Sep 30, 2026.
• Sale: 3,919,388 shares at $27.23 for $106,724,935 (open market or private sale, code S).
• Exercises: 6,900,000 shares at $15.00 ($103,500,000), 47,600 shares at $25.00 ($1,190,000), 5,900 shares at $25.00 ($147,500) (exercise of in-the-money derivatives, code X).
• Derivative disposals: same quantities reported at $0.00 (derivative transactions reported as disposed).
• Filing date: Oct 6, 2026; the Form 4 does not indicate a late filing status.
• Shares owned after the transaction: not reported on the Form 4.
• Footnotes: F1 states the 3,919,388 shares were repurchased by the issuer for a non-interest-bearing promissory note of $106,724,942 (about $27.23 per share), the note was applied to the warrant exercise prices and certain royalty repurchase prices and then cancelled, and no cash was exchanged. F2 and F4 describe ownership and control structures (Abstract Holdings 1618, LLC and Abstract Concepts 1618, LLC) and disclaimers of beneficial ownership except to the extent of pecuniary interest. F3 states shares issuable on exercise will be issued upon effectiveness of the issuer's restated certificate of formation.

Why it may matter

• The filing reports exercises of derivatives and an immediate sale/issuer repurchase of shares; footnote F1 states no cash was exchanged because a promissory note was used and then cancelled.
• The reporting person is a 10% owner, a large holder rather than an executive role.
• This filing does not show why the insider traded or why the company acted.