Horowitz Jeff Peter 4
4 · BITGO HOLDINGS, INC. · Filed Jun 12, 2026
Research Summary
AI-generated summary of this filing
BitGo (BTGO) CCO Jeff Horowitz Exercises Phantom Units for Cash
What Happened
Jeff Horowitz, Chief Compliance Officer of BitGo Holdings, settled a total of 2,084 cash‑settled phantom stock units on May 22, 2026. The Form 4 reports two derivative conversions/exercises: 521 units and 1,563 units, both marked as cash‑settled (no per‑share price reported). These Units represent the economic equivalent of Class A common shares and were paid out in cash rather than issued as shares.
Key Details
- Transaction date: May 22, 2026 (Form 4 filed June 12, 2026 — the filing was late relative to the usual 2‑business‑day Form 4 deadline).
- Reported items: exercise/conversion of derivative (code M) for 521 Units and 1,563 Units (total 2,084 Units). No exercise price or sale price is reported (cash‑settled).
- Shares owned after transaction: not explicitly stated on this Form 4; the filing notes the Reporting Person's total Class A holdings were adjusted because Units previously counted in earlier filings are now reported in Table II.
- Footnotes of note:
- F1: Each Unit = economic equivalent of one Class A share; Units were settled for cash on May 22, 2026.
- F2/F4: The reported Units reflect recent vesting (April/May 2026 vest dates); larger balances remain subject to future monthly vesting through March 1, 2028 and December 18, 2028 respectively.
- F3: The award does not expire—it either vests or is canceled prior to vesting.
Context
Phantom stock units are cash‑settled instruments that track the economic value of shares; settlement here means Horowitz received cash proceeds rather than issued Class A shares. This is a routine vesting/settlement event rather than an open‑market purchase or sale indicating a change in ownership intent. Remaining Units continue to vest monthly per the schedules disclosed in the footnotes.
Insider Transaction Report
- Exercise/Conversion
Phantom Stock Units (Cash-settled Restricted Stock Units)
[F1][F2][F3]2026-05-22−521→ 5,478 total→ Class A Common Stock (521 underlying) - Exercise/Conversion
Phantom Stock Units (Cash-settled Restricted Stock Units)
[F1][F4][F3]2026-05-22−1,563→ 24,227 total→ Class A Common Stock (1,563 underlying)
- 287,662
Class A Common Stock
Footnotes (4)
- [F1]Each phantom stock unit (each a "Unit") represents the economic equivalent of one share of the Issuer's Class A common stock. On May 22, 2026, certain Units held by the Reporting Person were settled for cash as described in footnotes (2) and (4) to this Form 4.
- [F2]The reported transaction represents the vesting of 260 Units on April 1, 2026 and 261 Units on May 1, 2026, which transaction settled on May 22, 2026. The remaining 5,478 Units vest in substantially equal monthly installments.through March 1, 2028, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F3]This award does not expire; it either vests or is canceled prior to the vesting date.
- [F4]The reported transaction represents the vesting of 782 Units on April 18, 2026 and 781 Units on May 18, 2026, which transaction settled on May 22, 2026. The remaining 24,227 Units vest in substantially equal monthly installments.through December 18, 2028, subject to the Reporting Person's provision of service to the Issuer on each vesting date.