Jiang Cosmo Yi 4

What Happened Jiang Cosmo Yi, a director, was reported as acquiring 1,005,040 warrants in Solana Co (HSDT) on September 18, 2025. The transfer was reported as an award/grant (derivative) at $0.00 per warrant (total reported value $0). The warrants were transferred from Pantera Capital Management LP under a Warrant Transfer Agreement.

Key Details

• Transaction date and price: 2025-09-18; reported acquisition price $0.00 (derivative warrant).
• Instrument: warrant (right to acquire underlying shares), reported as an "A" (award/grant) transaction.
• Vesting: 25% vests on March 18, 2026; remaining 75% vests in equal monthly installments on the last day of each month over the following 36 months, subject to continuous service to Pantera on each vesting date (Footnote 1).
• Catch-up rule: on each March 31, June 30, September 30 and December 31, vested shares will be the greater of the then-vested amount or an Exercise-based Catch-Up Amount, but cumulative vested warrants cannot exceed 100% (Footnote 2).
• Shares owned after transaction: not disclosed in the Form 4.
• Filing timeliness: Form 4 was filed June 4, 2026 for a transaction dated September 18, 2025 — this is a late filing.

Context This was a transfer of warrants (a derivative award), not an open-market purchase or immediate sale. Warrants give the holder the right to buy shares later (potential dilution if exercised). Vesting and continuous-service conditions mean the economic/control outcome depends on future service and any exercise decisions. The late filing means the market learned of this transfer many months after it occurred; the filing itself does not indicate insider intent.