Jiang Cosmo Yi 4

What Happened

• Director Jiang Cosmo Yi exercised a warrant (conversion of a derivative) on June 2, 2026 to acquire 1,005,040 shares of Solana Co (HSDT). The issuer withheld 610 shares to satisfy tax/exercise obligations (cashless withholding), reported at $1.65 per share for a total withholding value of $1,007.
• Net new shares received by the insider = 1,005,040 − 610 = 1,004,430 shares. The filing shows the derivative instrument was converted/terminated as part of the transaction (reported as both an acquisition of shares and disposition of the derivative).

Key Details

• Transaction date: 2026-06-02. Filing date: 2026-06-04 (timely — Form 4 filed within two business days).
• Reported prices/amounts: 610 shares withheld at $1.65 each (total ~$1,007). The exercise/conversion lines are reported with $0.00 exercise price in the filing format.
• Shares owned after the transaction: Not specified in the data provided in this summary (not disclosed here).
• Footnotes: F1 — issuer withheld shares to satisfy the cashless exercise; F2 — the warrant’s original vesting schedule was elected by the reporting person to be accelerated and became fully vested and exercisable as of May 3, 2026.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price/tax liability (withholding).

Context

• This was a warrant exercise (derivative conversion), not an open-market purchase. The withholding of 610 shares to cover tax/exercise obligations is a common administrative step in cashless exercises and results in fewer net shares delivered to the insider.
• The filing notes the underlying warrant was accelerated to full vesting at the insider’s election (effective May 3, 2026), enabling the exercise on June 2.