Nickel Jesse 4

What Happened

• Jesse Nickel, Head of Business Development at Vertical Data (VDTA), reported exercising options for 625,000 shares at $0.05 per share on 2026-01-23 (exercise cost $31,250) and a simultaneous derivative disposition of 625,000 shares on the same date. He also acquired 300,000 shares (reported as a grant/award) at $0.05 per share on 2026-03-01 (valued at $15,000).
• Net effect reported on these transactions: 925,000 shares acquired and 625,000 shares disposed, for a net increase of 300,000 shares held by Nickel (see Key Details on ownership below). These are acquisitions (not open-market buys/sells) resulting from option exercise and an award.

Key Details

• Transaction dates and prices:
  • 2026-01-23: Exercise/conversion of derivative — 625,000 shares @ $0.05 (acquired), total $31,250.
  • 2026-01-23: Disposition of derivative — 625,000 shares @ $0.05 (listed as disposed; same amount/date as the exercise).
  • 2026-03-01: Grant/award — 300,000 shares @ $0.05 (acquired), total $15,000.
• Shares owned after transaction: Not specified in the filing.
• Footnotes from the filing:
  • F1: 300,000 common shares were issued to the beneficial owner in lieu of salary for the period June 2025 through March 2026.
  • F2: 25% of the granted options vested immediately on the grant date; the remaining 75% vest ratably monthly over a three‑year vesting period.
• Filing timeliness: The Form 4 was filed on 2026-03-23 covering transactions dated 2026-01-23 — this appears to be filed late (filed more than the standard two business days after the transaction).

Context

• The 625,000-share entry is recorded as an option exercise (derivative transaction). The filing also records a corresponding derivative disposition on the same date; filings sometimes show both when options are exercised and shares are transferred or sold immediately, but the form here does not specify an open-market sale or cashless-exercise details.
• The 300,000 shares were issued in lieu of salary (per F1), which is a compensation-related issuance rather than a market purchase or sale and therefore does not necessarily indicate the insider’s short-term market view.