Raptopoulos Andreas 4

What Happened

• Andreas Raptopoulos, CEO of Matternet, was granted/received a total of 8,377,112 shares on May 22, 2026 in connection with the issuer’s merger with Legacy Matternet. The filing shows one grant of 5,928,335 shares (issued shares) and three derivative awards of 1,200,227; 645,316; and 603,234 shares. The derivative entries are reported with a $0.00 per-share exercise price in the filing (i.e., reported as derivative awards), and no cash value is shown in the Form 4.

Key Details

• Transaction date: May 22, 2026 (reported on Form 4 filed May 27, 2026). Filing appears timely.
• Price reported: one stock grant listed as N/A; three derivative awards listed at $0.00 exercise price in the filing.
• Total shares received/awarded: 8,377,112 shares.
• Shares owned after transaction: not specified in the summary data provided.
• Notable footnotes from the filing:
  • F1: The 5,928,335 shares were issued in exchange for Legacy Matternet common stock pursuant to the Merger; each Legacy share converted into 2.0801 shares of the issuer.
  • F2: Vested and unvested options outstanding immediately prior to the Merger were assumed and converted by the issuer (exercise price adjusted by the conversion ratio).
  • F3–F5: The converted option/award tranches carry different vesting schedules (e.g., 25% after one year then monthly over 36 months; 24-month monthly vesting; 48-month monthly vesting).
• No 10b5-1 plan, tax withholding, gift, or sale noted in the provided details.

Context

• These transactions are merger-related awards and option conversions, not open-market purchases or sales. The derivative entries reflect options/awards converted/assumed under the Merger Agreement and are subject to vesting schedules described in the footnotes. Such awards typically reflect equity conversion and retention arrangements tied to the merger rather than immediate trading or disposition by the insider.