Chee Choon Wee 4

What Happened Chee Choon Wee, reported as a 10% owner of Solana Co (HSDT), converted/settled a restricted stock unit (RSU) award that was originally granted on September 18, 2025. The grant covered 2,218,236 RSUs (each representing one share). On May 11, 2026, the RSUs settled so that 1,109,118 shares were acquired by the reporting person at $0.00 per share and 1,109,118 shares were simultaneously disposed of (distribution-in-kind) at $0.00 per share. The RSUs had fully vested on October 30, 2025 following shareholder approval of the plan reserve increase.

Key Details

• Grant date: 2025-09-18 — 2,218,236 RSUs granted (derivative instrument; each RSU = 1 share).
• Vesting: RSUs fully vested on 2025-10-30 after shareholder approval (per footnotes).
• Settlement/exercise: 2026-05-11 — 1,109,118 shares acquired @ $0.00 and 1,109,118 shares disposed @ $0.00 (derivative conversion/exercise - code M and distribution - code A).
• Filing date / timeliness: Form 4 filed 2026-05-13; for the May 11 transactions this filing date is within the common two-business-day window.
• Shares owned after transaction: Not specified in the data provided; the filing notes that Fusion Summer/Fusion Summer member transactions and Summer Wisdom ownership relationships affect beneficial ownership disclosures.
• Notable footnotes: RSUs converted to shares on settlement (F1, F5, F6); one-half of the settled shares were distributed in-kind by Fusion Summer to a member for no consideration (F2); the reporting person controls Summer Wisdom (which controls Fusion Summer) but disclaims beneficial ownership of Fusion Summer-held shares except for pecuniary interest (F3).

Context

• This filing documents RSU settlement (a conversion of deferred equity into shares), not an open-market buy or cash sale. The reported disposals were distribution-in-kind transactions tied to an entity (Fusion Summer), not a public sale for cash.
• For retail investors: RSU grants and settlements are routine compensation and corporate-entity distributions; they do not necessarily signal the insider’s view of the stock price. As a 10% owner and controller of related holding companies, the reporting person’s relationship to shares held by affiliated entities is complex and he expressly disclaims direct beneficial ownership of certain entity-held shares.