Common Stock

Common Stock

Common Stock

Common Stock

25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

Under the terms of the Agreement and Plan of Merger, dated as of December 23, 2024, by and among, the Issuer, Merger Sub I, a wholly-owned subsidiary of the Issuer ("Merger Sub I"), Merger Sub II, a wholly-owned subsidiary of the Issuer ("Merger Sub II") and Inmagene Biopharmaceuticals ("Legacy Inmagene") (the "Merger Agreement"), on July 25, 2025, Merger Sub I merged with and into Legacy Inmagene (the "First Merger"), with Legacy Inmagene surviving the First Merger as a wholly-owned subsidiary of the Issuer, and immediately after the First Merger, Legacy Inmagene merged with and into Merger Sub II, with Merger Sub II surviving the First Merger as a wholly-owned subsidiary of the Issuer (the "Second Merger" and together with the First Merger, the "Merger"). (continued in the next footnote).

Upon the closing of the Merger, each Legacy Inmagene ordinary and preferred share was converted into the right to receive 0.003051 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Ikena Oncology, Inc. ("Ikena") to ImageneBio, Inc.

Received in exchange for a stock option to acquire 12,500,000 shares of common stock of Legacy Inmagene with the exercise price of $0.0876 per share pursuant to the Merger Agreement.

(i) 15,255 shares subject to the option vest as follows: 25% of such shares vested on the one year anniversary of the vesting commencement date and the balance of such shares will vest in a series of thirty-six (36)  successive equal monthly installments measured from the first anniversary of the vesting commencement date and (ii) 12,204 shares subject to the option vest as follows: (a) 3,051 of such shares will vest at the end of the first anniversary of grantee's qualified move to San Diego ("QMSD") and (b) 9,153 of such shares will vest in equal annual installments over the following three (3) years measured from the first anniversary of the QMSD, subject to grantee's QMSD not being terminated.

Received in exchange for a stock option to acquire 9,000,000 shares of common stock of Legacy Inmagene with the exercise price of $0.014 per share pursuant to the Merger Agreement.

Received in exchange for a stock option to acquire 1,505,000 shares of common stock of Legacy Inmagene with the exercise price of $0.014 per share pursuant to the Merger Agreement.

Received in exchange for a stock option to acquire 2,000,000 shares of common stock of Legacy Inmagene with the exercise price of $0.014 per share pursuant to the Merger Agreement.

This Form 4 is being filed late due to delays in obtaining the reporting person's EDGAR codes.


MacKenzie Realty Capital Inc. Common Stock

MacKenzie Real Estate Advisers, LP ("MREA") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MREA and therefore could be deemed to beneficially own the MRC shares acquired by MREA, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.

MPF Successors, LP ("MPF") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MPF and therefore could be deemed to beneficially own the MRC shares acquired by MPF, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.

/s/ Jeri Bluth, as attorney-in-fact for Charles E. Patterson II


Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

Represents shares withheld from the Reporting Person to cover tax obligations.

/s/ James Bramble, attorney-in-fact for Leonardo Pareja


Common Stock

Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.

With tandem dividend equivalent rights and tax withholding rights.

Includes 32 dividend equivalent units that had accrued on the restricted stock units.

The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Ms. Thuerk's continued employment with the Company on the applicable vesting date. The first installment (including the related dividend equivalent units) vested on August 5, 2025.


Common Stock

Includes 134 dividend equivalent units that had accrued on the restricted stock units.

The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Mr. O'Brien's continued employment with the Company on the applicable vesting date. The first installment (including the related dividend equivalent units) vested on August 5, 2025.


Common Stock

Includes 284 dividend equivalent units that had accrued on the restricted stock units.

The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Mr. Wunsch's continued employment with the Company on the applicable vesting date. The first installment (including the related dividend equivalent units) vested on August 5, 2025.


The reporting transaction was effected pursuant to a written election under Northwest Natural Gas Company's Deferred Compensation Plan for Directors and Executives made on or about January 6, 2022.  At the time made, the election was intended to satisfy the then-current Rule 10b5-1.  The election has not been entered into, modified or terminated since the original election date.

Shares have been credited to reporting person's account under Northwest Natural Gas Company's Deferred Compensation Plan for Directors and Executives.


The price reported is a weighted average price. The reported securities were purchased in multiple transactions at prices ranging from $28.71 to $28.74. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

These securities are directly held by the Amy W. Hale Revocable Trust dated July 28, 2009, of which Amy W. Hale, the reporting person's spouse, serves as sole trustee.

/s/ Seth Cohen, as Attorney-in-Fact, for Bradford Hale


The reporting transaction was effected pursuant to a written election under Northwest Natural Gas Company's Deferred Compensation Plan for Directors and Executives made on or about September 13, 2024.


On August 5, 2025, the reporting person was granted 50,000 restricted stock units pursuant to the Issuer's 2015 Stock Plan, as amended, which will vest in accordance with the following schedule: 16,667 shares on August 5, 2028, 16,667 shares on August 5, 2029 and 16,666 shares on August 5, 2030.

Includes restricted stock units, which vest over various time periods.

The shares are held by a limited liability company which the reporting person, as managing member, is deemed to have voting and investment power.


Non-qualified Stock Option (Right to Buy)

Common Stock

As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on January 9, 2025.

Shares held in the reporting person's name or in the Marc R. Benioff Revocable Trust.

Weighted average price. These shares were sold in multiple transactions at prices ranging from $247.2976 to $248.2754 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $248.2978 to $249.2757 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $249.3538 to $249.9800 inclusive.  The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Shares held in the Marc Benioff Fund LLC (the "Fund").  Fund interests are held in the reporting person's name or in trust.

Option vests over four years at the rate of 25% on March 22, 2020, the first anniversary of the holder's date of grant, with the balance vesting in equal monthly installments over the remaining 36 months.

/s/ Andrew Leeds, Attorney-in-Fact for Marc Benioff


Common Stock

Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.

With tandem dividend equivalent rights and tax withholding rights.

Includes 59 dividend equivalent units that had accrued on the restricted stock units.

The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Mr. Spessard's continued employment with the Company on the applicable vesting date. The first installment (including the related dividend equivalent units) vested on August 5, 2025.


On August 5, 2025, the reporting person was granted 20,000 restricted stock units pursuant to the Issuer's 2015 Stock Plan, as amended, which will vest in accordance with the following schedule: 6,667 shares on August 5, 2028, 6,667 shares on August 5, 2029 and 6,666 shares on August 5, 2030.


The reporting transaction was effected pursuant to a written election under Northwest Natural Gas Company's Deferred Compensation Plan for Directors and Executives made on or about June 1, 2021.  At the time made, the election was intended to satisfy the then-current Rule 10b5-1.  The election has not been entered into, modified or terminated since the original election date.

Shares have been credited to reporting person's account under Northwest Natural Gas Company's Deferred Compensation Plan for Directors and Executives.


Class A Subordinate Voting Shares

The Reporting Person resigned from his position as an officer of the Issuer on August 1, 2025. The outstanding and unvested restricted stock units held by the Reporting Person on the date of his resignation were forfeited and will not vest.

The Reporting Person resigned as the Issuer's President on August 1, 2025. As a result, the reporting person is voluntarily filing this Form 4 to indicate that he is no longer subject to Section 16.


Common Stock

Includes 117 dividend equivalent units that had accrued on the restricted stock units.

The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Ms. Esposito's continued employment with the Company on the applicable vesting date. The first installment (including the related dividend equivalent units) vested on August 5, 2025.


Includes restricted stock units, which vest over various time periods.


Non-Qualified Stock Option (right to buy) with limited SAR

Common stock; par value $0.00001 per share

The limited stock appreciation right ("SAR") and employee stock option were granted in tandem. Accordingly, the exercise of one results in the expiration of the other. The SAR may be exercised only during the period beginning on the first day following the date that a "Change in Control" of Issuer occurs (as defined in the related grant agreement) and ending on the thirtieth day following such date. Upon exercise, the grantee shall be able to receive an amount equal to the product computed by multiplying (i) the excess of the "Offer Value Per Share" over the exercise price of the underlying option by (ii) the number of shares with respect to which the SAR is being exercised; provided, that such amount shall only be payable in the event an "Offer" is made.

The "Offer Value Per Share" means the average selling price of Issuer's common stock during the period of 30 days ending on the date on which the SAR is exercised. "Offer" means any tender offer or exchange offer for outstanding shares of Issuer representing at least 30% of the total voting power of the stock of Issuer, or an offer to purchase assets from Issuer that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of Issuer, other than an offer made by Issuer.

The options shall vest in substantially equal one-third increments on each of the following dates as long as grantee serves as an employee of Issuer or an affiliate thereof through the applicable vesting date: August 6, 2026, August 6, 2027 and August 6, 2028.


Common Stock

Common Stock

Common Stock

Award in 2023 of service based stock units convertible into shares of FCF common stock on a 1-for-1 basis at the end of a 3 year vesting period.

Award in 2024 of service based stock units convertible into shares of FCF common stock on a 1-for-1 basis at the end of a 3 year vesting period.

Award in 2025 of service based stock units convertible into shares of FCF common stock on a 1-for-1 basis at the end of a 3 year vesting period.

/s/ Matthew C. Tomb POA for James R. Reske


Common Stock

Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.

With tandem dividend equivalent rights and tax withholding rights.

Includes 55 dividend equivalent units that had accrued on the restricted stock units.

The restricted stock units were granted on August 5, 2024 and vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Ms. Radkoski's continued employment with the Company on the applicable vesting date. The first installment (including the related dividend equivalent units) vested on August 5, 2025.


Represents restricted stock units ("RSUs") granted in connection with the Reporting Person's appointment as the Interim Chief Executive Officer of the Issuer. The RSUs shall become fully vested on the earlier of (i) February 27, 2026 and (ii) the effective date of the appointment of a permanent Chief Executive Officer of the Issuer, in each case, subject to the Reporting Person's continued service as the Interim Chief Executive Officer of the Issuer through the applicable vesting date.

By: Adrian Milton, Attorney-in-Fact for Wouter T. van Kempen


MacKenzie Real Estate Advisers, LP ("MREA") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MREA and therefore could be deemed to beneficially own the MRC shares acquired by MREA, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.

MPF Successors, LP ("MPF") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MPF and therefore could be deemed to beneficially own the MRC shares acquired by MPF, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.

/s/ Jeri Bluth, as attorney-in-fact for Glen Fuller


Alan N. Trefler Irrevocable Non-GST Trust of 2022

Alan N. Trefler Grantor Retained Annuity Trust I of 2023

Alan N. Trefler Grantor Retained Annuity Trust II of 2023

Alan N. Trefler Grantor Retained Annuity Trust I of 2024

Alan N. Trefler Grantor Retained Annuity Trust II of 2024

Sold pursuant to a pre-arranged trading plan adopted by Mr. Trefler November 6, 2024 under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

Represents the weighted average of sale prices, ranging from $56.94 to $57.93. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

Represents the weighted average of sale prices, ranging from $57.94 to $58.75. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

Represents the weighted average of sale prices, ranging from $56.86 to $57.69. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

/s/ Ewelina Kemp, Attorney-in-Fact for Alan Trefler


Ordinary Shares

Ordinary Shares

Ordinary Shares

Ordinary Shares

Ordinary Shares

Reflects Dividend Equivalent Units ("DEUs") received by the Reporting Person as a result of dividend equivalents accrued with respect to outstanding Restricted Stock Units ("RSUs") and/or Performance Stock Units ("PSUs") granted to the Reporting Person. Dividend equivalents are accrued at the same rate and at the same time as dividends are paid to Ordinary Shareholders. Dividend equivalents on RSUs and/or PSUs are subject to the same restrictions and vesting conditions as the underlying RSUs and/or PSUs.

Includes 283.2431 shares acquired through a dividend reinvestment plan.

The RSUs convert to Ordinary Shares on a one-for-one basis.

The RSUs were awarded on 3/2/2023 and vest in three equal installments over three years. The remaining vesting will occur on 3/2/2026.

The RSUs were awarded on 3/3/2025 and vest in three equal installments over three years. The vestings will occur on each of 3/3/2026, 3/3/2027 and 3/3/2028.

The PSUs convert to Ordinary Shares on a one-for-one basis.

The PSUs were awarded on 3/1/2024 subject to meeting minimum performance criteria which was met at 100%. The PSUs vest in three equal installments.  The remaining vestings will occur on 3/1/2026 and 3/1/2027.

The PSUs were awarded on 3/3/2025 and are earned subject to meeting minimum performance criteria.  Once earned, the PSUs vest in three equal annual installments on each of 3/3/2026, 3/3/2027 and 3/3/2028.

/s/ Effie D. Silva, Attorney-in-Fact for Ziad Nabulsi


Goldberg Chen

290 WEST MT. PLEASANT AVENUE, SUITE 4100

Class A Common Stock

Class A Common Stock

Class A Common Stock

The transaction represents the number of shares of the Issuer's Class A Common Stock withheld by the Issuer to satisfy income tax withholding liabilities in connection with the net settlement of restricted stock units.

Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement.

The award vested as to 1/4 of the total award on August 5, 2025, and vests as to 1/16 of the total award thereafter on the fifth calendar day of November, February, May, and August, subject to the reporting person's continued service to the Issuer on each vesting date.

These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.

The transaction occurred prior to the Issuer's registration of a class of equity securities under Section 12 of the Securities Exchange Act of 1934, as amended, in connection with the Issuer's initial public offering ("IPO"), and the transaction is reported herein pursuant to Rule 16a-2(a). All numbers of shares and prices set forth in this Form 4 have been adjusted to reflect a one for twenty forward stock split of all classes of the Issuer's capital stock effected on March 14, 2025.

This restricted stock unit award represents an equity security previously reported on the reporting person's Form 3, which was acquired through an exempt transaction with the Issuer.

The award was granted subject to a performance-based vesting condition which was satisfied in connection with the Issuer's IPO, as well as a service-based vesting schedule. The award shall vest as to 1/4 of the total award on February 20, 2026, and thereafter shall vest as to 1/16 of the total award on the 20th calendar day of May, August, November, and February, subject to the reporting person's continued service to the Issuer on each vesting date.

The award was granted subject to a performance-based vesting condition which was satisfied in connection with the Issuer's IPO, as well as a service-based vesting schedule. The award shall vest as to 1/4 of the total award on March 31, 2026, and thereafter shall vest as to 1/16 of the total award on the last calendar day of June, September, December, and March, subject to the reporting person's continued service to the Issuer on each vesting date.

/s/ Kristen McVeety, as Attorney-in-Fact


Common Shares, $.0011 par value per share

Such common shares were held by a revocable trust for which the reporting person serves as trustee.

Such common shares were held by a revocable trust for which the reporting person's spouse serves as trustee.

Such common shares are held by a revocable trust for which the reporting person and his spouse serve as trustees.

Such common shares are held by an irrevocable trust for which the reporting person's spouse is a co-trustee.

Such common shares are held by an irrevocable trust for which the reporting person is a co-trustee.


Common Shares, $0.01 par value per share

On August 5, 2025, the Reporting Person was granted 35,976 restricted stock units. The award represents a grant of restricted stock units pursuant to the Issuer's Amended and Restated 2014 Equity Incentive Plan. Under the terms of the award agreement, the applicable restricted stock units shall vest ratably and in three equal installments commencing with, and on the subsequent anniversaries of, August 5, 2025.

Includes 32,317 unvested shares underlying restricted stock units.


MacKenzie Real Estate Advisers, LP ("MREA") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MREA and therefore could be deemed to beneficially own the MRC shares acquired by MREA, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.

MPF Successors, LP ("MPF") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MPF and therefore could be deemed to beneficially own the MRC shares acquired by MPF, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.


Restricted Stock Award (the "August 2025 Restricted Stock Award"), pursuant to which the applicable restricted shares shall vest ratably and in three equal installments commencing with, and on the subsequent anniversaries of, August 5, 2025.

In connection with the vesting of a portion of the August 2025 Restricted Stock Award (12,054 shares) on August 5, 2025, 5,586 shares were withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations.

Represents 4,634 shares reacquired to satisfy tax withholding obligations in connection with the vesting of 10,000 shares of restricted stock granted to the Reporting Person on August 5, 2024.

Shares held by the Kyveli Trust (the "Trust"). The Reporting Person and other members of his family are the beneficiaries of the Trust. The Reporting Person disclaims all beneficial ownership of these securities except to the extent of his pecuniary interest therein.


Common Stock

The shares were acquired through a distribution in kind to limited partners of 10XYZ Holdings, which was the Sponsor of TenX Keane Acquisition ("TenX"), the legacy entity of Citius Oncology, Inc.

The options were granted on December 12, 2024. The options will vest 100% on the one-year anniversary of the grant date, provided that the Optionee provides Continuous Service to the Company as of the vesting date.

/s/ Alexander M. Donaldson, by Power of Attorney


Common Stock

On July 15, 2025, the Company granted Mr. Stinchcomb 2,400,000 restricted stock units (RSUs) with tandem dividend equivalent rights under the 2020 Omnibus Incentive Plan. Each RSU represents the right to receive one share of common stock. The RSUs granted are performance-based, subject to the Company achieving certain stock price or financial performance goals. All vesting is subject to continued employment on the applicable vesting date and any RSUs not earned during the term of Mr. Stinchcomb's employment agreement ("Agreement") will be cancelled. The dividend equivalents rights entitle Mr. Stinchcomb to payout of dividends accrued on each unvested RSU to the extent such RSUs vest and are distributed under the Agreement.

On August 4, 2025, the Board determined that the Company met the first performance condition of the award by achieving 35% year-over-year revenue growth for the period January 1 through June 30, 2025, compared to the same period in 2024, and thereby triggering the vesting of the first tranche of the Award, or 600,000 RSUs.

Represents the withholding of shares of the Company's common stock for payment of income tax in connection with the vesting of restricted stock units disclosed above as an acquisition of shares, which such netting of shares does not constitute an actual sale or other open market transaction.

/s/ P. Brady Hayden as attorney-in-fact for Clint Stinchcomb


Common Stock, par value $.01 per share

Represents Restricted Stock Units ("RSUs") issued to the Reporting Person under the LTIP. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01 per share ("Common Stock"). The Reporting Person will receive from NRG one such share of Common Stock for each RSU that will vest ratably over a two-year period beginning on the first anniversary date of the grant.

Represents Restricted Stock Units ("RSUs") issued to the Reporting Person under the LTIP. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01 per share ("Common Stock"). The Reporting Person will receive from NRG one such share of Common Stock for each RSU that will vest ratably over a three-year period beginning on the first anniversary date of the grant.

On August 4, 2025 the Reporting Person was issued 15,319 RPSUs by NRG under the LTIP that vest on August 4, 2028, subject to certain performance conditions.


Common Stock

Deferred Compensation Plan and Savings Restoration Plan

Each share of phantom stock that was acquired under the Parker Deferred Compensation Plan or the Savings Restoration Plan is the economic equivalent of one share of common stock and is settled in cash. The shares of phantom stock generally become payable following the reporting person's separation from service.

/s/ Stephanie R. Breitenbach, Attorney-In-Fact


Effective August 5, 2025, TPG/NJ (RE) Partnership, L.P. ("TPG/NJ RE Partnership") distributed, in accordance with its limited partnership agreement, 4,693,916 shares of common stock ("Common Stock") of TPG RE Finance Trust, Inc. (the "Issuer") to its limited partner, State of New Jersey Common Pension Fund E (the "Distribution").

Each of James G. Coulter and Jon Winkelried owns entities that control TPG GP A, LLC (together with Messrs. Coulter and Winkelried, the "Reporting Persons"), which exercises direct or indirect control over entities that collectively hold 100% of the shares of Class B common stock (which represents a majority of the combined voting power of the common stock) of TPG Inc., which is the managing member of TPG GPCo, LLC, which is the sole member of TPG Holdings II-A, LLC, which is the general partner of TPG Operating Group II, L.P., which is the (i) sole member of TPG Holdings III-A, LLC and (ii) general partner of TPG Holdings II Sub, L.P.

TPG Holdings III-A, LLC is the general partner of TPG Holdings III-A, L.P., which is the general partner of TPG Operating Group III, L.P. ("TOG III"), which (i) directly holds 1,811,251 shares of Common Stock and (ii) is the sole member of TPG DASA Advisors (RE) II, LLC, which is the general partner of TPG NJ DASA GenPar C, L.P., which is the general partner of TPG/NJ RE Partnership, which directly held 4,693,916 shares of Common Stock prior to the Distribution.

TPG Holdings II Sub, L.P. is the sole member of TPG Real Estate Advisors, LLC, which is the general partner of TPG RE Finance Trust Management, L.P. ("TPG RE Finance Trust Management" and together with TOG III and TPG/NJ RE Partnership, the "TPG Funds"), which directly holds 581,612 shares of Common Stock.

Excluding the shares of Common Stock directly held by the TPG Funds, Mr. Coulter holds directly or indirectly 99,307 shares of Common Stock.

Because of the relationship between the Reporting Persons and the TPG Funds, the Reporting Persons may be deemed to beneficially own the securities reported herein to the extent of the greater of their respective direct or indirect pecuniary interests in the profits or capital accounts of the TPG Funds. Each TPG Fund and each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such TPG Fund's or such Reporting Person's pecuniary interest therein, if any.

Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any equity securities in excess of their respective pecuniary interests.

8. The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act. 9. Gerald Neugebauer is signing on behalf of Messrs. Coulter and Winkelried pursuant to authorization and designation letters dated January 10, 2024, which were previously filed with the Securities and Exchange Commission.


By Atlas Venture Opportunity Fund I, L.P.

The securities were disposed pursuant to the Agreement and Plan of Merger (the "Merger Agreement") by and among the Issuer, Sanofi ("Parent"), and Vesper Acquisition Sub Inc., a wholly owned subsidiary of Parent ("Merger Sub"). Pursuant to the terms of the Merger Agreement, on August 5, 2025, Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer continuing as the surviving corporation in the Merger and as a wholly owned subsidiary of Parent. Each share of Issuer Common Stock issued and outstanding was converted into the right to receive (i) $8.00 per share of Common Stock in cash, without interest plus (ii) one contingent value right, representing the right to receive $2.00 payable in cash, conditioned upon satisfaction of a certain clinical milestone.

These shares were held directly by Atlas Venture Fund XII, L.P. ("Atlas Venture Fund XII"). The general partner of Atlas Venture Fund XII is Atlas Venture Associates XII, L.P. ("AVA XII LP"). Atlas Venture Associates XII, LLC ("AVA XII LLC") is the general partner of AVA XII LP. Each of AVA XII LP and AVA XII LLC disclaims Section 16 beneficial ownership of the securities held by Atlas Venture Fund XII, except to the extent of its pecuniary interest therein, if any.

These shares were held directly by Atlas Venture Opportunity Fund I, L.P. ("Atlas Venture Opportunity Fund I"). The general partner of Atlas Venture Opportunity Fund I is Atlas Venture Associates Opportunity I, L.P. ("AVAO I LP"). Atlas Venture Associates Opportunity I, LLC ("AVAO I LLC") is the general partner of AVAO I LP. Each of AVAO I LP and AVAO I LLC disclaims Section 16 beneficial ownership of the securities held by Atlas Venture Opportunity Fund I, except to the extent of its pecuniary interest therein, if any.


Shares were sold pursuant to a Rule 10b5-1 trading plan dated January 31, 2025.

These shares are held by Atlas Venture Opportunity Fund I, LP ("Opportunity I"). The general partner of Opportunity I is Atlas Venture Associates Opportunity I, LP ("Associates I"). Atlas Venture Associates Opportunity I, LLC ("Associates I LLC") is the general partner of Associates I. The Reporting Person is a member of Associates I LLC and disclaims beneficial ownership of such securities held by Opportunity I, except to the extent of his pecuniary interest therein, if any.

These shares are held by Atlas Venture Opportunity Fund II, LP ("Opportunity II"). The general partner of Opportunity II is Atlas Venture Associates Opportunity II, LP ("Associates II"). Atlas Venture Associates Opportunity II, LLC ("Associates II LLC") is the general partner of Associates II. The Reporting Person is a member of Associates II LLC and disclaims beneficial ownership of such securities held by Opportunity II, except to the extent of his pecuniary interest therein, if any.

These shares are held by Atlas Venture Fund XII, L.P. ("Atlas XII"). The general partner of Atlas XII is Atlas Venture Associates XII, L.P. ("Associates XII"). Atlas Venture Associates XII, LLC ("Associates XII LLC") is the general partner of Associates XII. The Reporting Person is a member of Associates XII LLC and disclaims beneficial ownership of such securities held by Atlas XII, except to the extent of his pecuniary interest therein, if any.


These shares are owned by an entity of which the reporting person's spouse is sole shareholder. The reporting person disclaims beneficial ownership in these shares.


The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $198.26 to $198.37 inclusive. The reporting person undertakes to provide AbbVie Inc., any security holder of AbbVie Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

This reflects shares acquired pursuant to a dividend reinvestment plan.

The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $198.56 to $198.73 inclusive. The reporting person undertakes to provide AbbVie Inc., any security holder of AbbVie Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

/s/ T.O. Odutayo, Attorney-in-Fact for Nicholas J. Donoghoe


The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.04 to $13.065, inclusive. The reporting person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in this footnote.

/s/ Darrow A. Abrahams, attorney-in-fact


The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.045 to $13.065, inclusive. The reporting person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in this footnote.


The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.08 to $13.115, inclusive. The reporting person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in this footnote.


Beneficial ownership total adjusted by 237 shares for Mr. Lehberger, reflecting vested restricted stock previously inadvertently excluded from such total


Rights to Common Stock Under BD Deferred Compensation Plan

Common Stock

The securities convert to common stock on a one-for-one basis.

The securities are distributed following termination of the reporting person's service as a director, or on the date or dates specified by the reporting person.

Includes rights acquired through dividend reinvestment since the last report filed by the reporting person.

Donna Kalazdy, by power of attorney for Christopher Jones


Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Each share of phantom stock that was acquired under the Parker Deferred Compensation Plan or the Savings Restoration Plan is the economic equivalent of one share of common stock and is settled in cash. The shares of phantom stock generally become payable following the reporting person's separation from service.

Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.


The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan established by the reporting person on November 25, 2024.


Reflects securities held directly by Prospect Capital Management, L.P., an entity controlled by Reporting Person.

This transaction represents a charitable donation to the John and Daria Barry Foundation (Foundation). Mr. Barry has sole voting and dispositive power over shares held through the Foundation. The Foundation has separately filed a Form 3 with respect to this donation.


Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

The Common Stock award balance has been updated to no longer include units from the Savings Restoration Plan and the Deferred Compensation Plan.


Common Stock,  $0.0001 par value per share

This transaction was executed by the broker in two trades at $22.65 for each order. The price reported above reflects the volume weighted average purchase price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares purchased at each separate price.


Class A Common Stock

Class A Common Stock

Class A Common Stock

Class A Common Stock

Class A Common Stock

Class A Common Stock

Reflects shares of Class A Common Stock, shares of Class B Common Stock, or LLC Units, as applicable, held (a) directly by the Mark & Robyn Jones Descendants Trust 2014 and (b) indirectly by Mark Evan Jones and Robyn Mary Elizabeth Jones, who serve as trustees of the Mark & Robyn Jones Descendants Trust 2014 and whose immediate family members are beneficiaries of the Mark & Robyn Jones Descendants Trust 2014.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.00 to $89.73, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.50 to $87.78, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.00 to $87.49, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Reflects shares of Class A Common Stock, shares of Class B Common Stock, or LLC Units, as applicable, held directly by Mark Evan Jones, and does not reflect shares of Class A Common Stock, shares of Class B Common Stock, or LLC Units, as applicable, held by his spouse, Robyn Mary Elizabeth Jones, who is independently a reporting person of the issuer.

Reflects shares of Class A Common Stock, shares of Class B Common Stock, or LLC Units, as applicable, held directly by Robyn Mary Elizabeth Jones, and does not reflect shares of Class A Common Stock, shares of Class B Common Stock, or LLC Units, as applicable, held by her spouse, Mark Evan Jones, who is independently a reporting person of the issuer.

Reflects shares of Class B Common Stock or LLC Units, as applicable, held indirectly by Mark Evan Jones and Robyn Mary Elizabeth Jones, who serve as trustees of various trusts and whose immediate family members are beneficiaries of such trusts.

Each LLC Unit, together with a share of Class B Common Stock, may be converted by the holder into one share of Class A Common Stock at any time. The LLC Units do not expire.


Common Stock

The price in Column 4 is the weighted average selling price of the shares.  The shares were sold in multiple transactions at prices from $52.95 to $53.27, inclusive.  The Reporting Person undertakes to provide to the SEC, GM and any security holder, upon request, full information regarding the number of shares sold at each price point within the ranges set forth in this footnote.

The price in Column 4 is the weighted average selling price of the shares.  The shares were sold in multiple transactions at prices from $52.34 to $53.15, inclusive.  The Reporting Person undertakes to provide to the SEC, GM and any security holder, upon request, full information regarding the number of shares sold at each price point within the ranges set forth in this footnote.

These stock options were granted on February 7, 2023, and two-thirds have vested. The remaining installment will vest on February 7, 2026.

/s/ Lubna R. Malik, Attorney-in-Fact for Mr. Harvey


Common Stock

The securities convert to common stock on a one-for-one basis.

The securities are distributed following termination of the reporting person's service as a director, or on the date or dates specified by the reporting person.

Includes rights acquired through dividend investment since the last report filed by the reporting person.

Donna Kalazdy, by power of attorney for Carrie L Byington


Award of 2,670 restricted stock units for service as a director. The restricted stock units vest on the first anniversary of the award date.

/s/ Catherine H. Claiborne, attorney-in-fact


This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 12, 2024.

This transaction was executed in multiple trades during the day at prices ranging from $103.29 to $107.15. The weighted-average price is reported above. The Reporting Person hereby undertakes to
provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

/s/ Matthew Yorkavich, attorney-in-fact for Steven M. Quirk


The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.6000 to $72.2500 inclusive. The reporting person undertakes to provide AAR CORP., any security holder of AAR CORP., or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.


Common Stock

This transaction was effected pursuant to a Rule 10b5-1 sales plan adopted by the Reporting Person on December 30, 2024.

The option vests in three annual installments from June 21, 2024 through June 21, 2026, subject to the Reporting Person's continued service on the Issuer's board of directors.


Award of 2,290 restricted stock units for service as a director. The restricted stock units vest on the first anniversary of the award date.

Includes shares resulting from dividend equivalent units earned on restricted stock units that vested on August 6, 2025. Includes 2,290 restricted stock units as of the date this Form 4 is filed.


Common Shares

Restricted stock units convert into common shares, par value $0.01 per share, of Seadrill Limited on a one-for-one basis.

On August 6, 2022, the reporting person was granted 18,669 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.


Represents shares of restricted stock that will vest on January 31, 2026.


The Reporting Person transferred these shares of Class B common stock, par value $0.0001 per share (the "Class B Common Stock") of i3 Verticals, Inc. (the "Issuer") to the CFD 2025 Exempt Irrevocable Trust (the "CFD Trust"), for no consideration.

Pursuant to the Amended and Restated Certificate of Incorporation of the Issuer, the shares of the Issuer's Class B Common Stock are cancellable for no consideration on a one-to-one basis upon any redemption of the common units in i3 Verticals, LLC (the "Common Units") for shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock") of the Issuer.

Represents shares of Class B Common Stock of the Issuer held by the CFD Trust, of which the Reporting Person's spouse is trustee and beneficiary. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

Represents shares of Class B Common Stock held by Daily Family Investment, LLC ("DFI"), of which the Reporting Person serves as tax matters partner. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

The Common Units may be redeemed by the Reporting Person at any time for an equal number of shares of Class A Common Stock or, at the election of i3 Verticals, LLC, cash equal to the volume-weighted average market price of such shares. Upon the Reporting Person's redemption of a Common Unit for Class A Common Stock, any corresponding share of Class B Common Stock will be cancelled.

The reporting person transferred these Common Units to the CFD Trust for no consideration.

All Common Units are fully vested and have no expiration date.

Represents Common Units held by CFD Trust. The Reporting Person disclaims beneficial ownership of such Common Units except to the extent of his pecuniary interest therein.

Represents Common Units held by DFI. The Reporting Person disclaims beneficial ownership of such Common Units except to the extent of his pecuniary interest therein.

/s/ Paul Maple, Attorney-in-Fact for Gregory S. Daily


Common Shares

On August 6, 2022, the reporting person was granted 3,206 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.


Common Shares

Restricted stock units convert into common shares, par value $0.01 per share (a "Common Share"), of Seadrill Limited on a one-for-one basis.

On August 6, 2022, the reporting person was granted 53,427 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.

The Form 4 filed on April 21, 2025 for the reporting person inadvertently overstated the number of Common Shares disposed of by 70 shares, resulting in an understatement of the number of Common Shares held by the reporting person following such transaction by 70 shares. This Form 4 corrects such error by increasing the number of Common Shares held by the reporting person by such 70 shares.


Represents common shares, no par value, of Bausch + Lomb Corporation underlying an award of performance stock units ("PSUs") originally granted to the reporting person on March 1, 2023 under the Bausch + Lomb Corporation 2022 Omnibus Incentive Plan, as amended and restated, that satisfied the applicable performance conditions at the target performance level (100%) as of August 5, 2025. The earned PSUs will vest on March 1, 2026, subject generally to the reporting person's continued employment through such date.


The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions on August 6, 2025 at prices ranging from $51.56 to $51.59, inclusive. The reporting person undertakes to provide EQT Corporation, any security holder of EQT Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.

/s/ Patrick J. OMalley, Attorney-in-Fact


Price reported constitutes the average weighted price of shares sold.  Shares were sold at varying prices in the range of $119.36 - $119.3725.  The reporting person hereby undertakes, upon request by the Commission staff, the issuer or a security holder of the issuer, to provide full information regarding the number of shares sold at each separate price.

/s/ Gregory J. Dziak as attorney-in-fact for Frederick R. Nance under Power of Attorney


Common Shares

Restricted stock units convert into common shares, par value $0.01 per share, of Seadrill Limited on a one-for-one basis.

On August 6, 2022, the reporting person was granted 13,357 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date..


Common Stock

1/48th of the shares subject to the option vest monthly following August 7, 2025, the vesting commencement date, subject to the Reporting Person's continuous service to the Issuer through each vesting date.


Common Shares

On August 6, 2022, the reporting person was granted 13,357 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.


Shares of Class A common stock, par value $0.01 per share


Common Stock


Kiniksa Pharmaceuticals International, plc

Class A Ordinary Share

Class A Ordinary Share

Class A Ordinary Share

Class A Ordinary Share

Class A Ordinary Share

The reporting person is voluntarily reporting the acquisition of these shares pursuant to the Issuer's 2018 Employee Share Purchase Plan for the purchase period of January 16, 2025 to July 15, 2025. The acquisition of these shares was exempt pursuant to Rule 16B-3(e).

This transaction was effected pursuant to a 10b5-1 plan executed by the reporting person on April 29, 2024.

This transaction was executed in multiple trades through a broker-dealer at prices ranging between $32.83 and $33.82. The price reported in this column reflects a weighted average sales price. Upon request, the reporting person will provide to the SEC staff full information regarding the number of Shares sold at each price.

This transaction was executed in multiple trades through a broker-dealer at prices ranging between $33.83 and $33.98. The price reported in this column reflects a weighted average sales price. Upon request, the reporting person will provide to the SEC staff full information regarding the number of Shares sold at each price.

The option is fully vested and exercisable.

The option vests and becomes exercisable as to 25% of the total grant on the first anniversary of the vesting commencement date and vests in 36 equal monthly installments thereafter. The vesting commencement date is September 2, 2021.

The option vests and becomes exercisable as to 25% of the total grant on the first anniversary of the vesting commencement date and vests in 36 equal monthly installments thereafter. The vesting commencement date is April 7, 2022.

The option vests and becomes exercisable as to 25% of the total grant on the first anniversary of the vesting commencement date and vests in 36 equal monthly installments thereafter. The vesting commencement date is September 1, 2022.

The option vests and becomes exercisable as to 25% of the total grant on the first anniversary of the vesting commencement date and vests in 36 equal monthly installments thereafter. The vesting commencement date is April 1, 2023.


Reflects exempt transfer of 11,707 shares from Grantor Retained Annuity Trust to direct holdings since reporting person's last Form 4.


/s/ John J. Mitchell, as attorney-in-fact for Samuel D. Sledge


/s/ Bradley T. Kamlet, by Power of Attorney


Common Stock

25% of the shares subject to the option shall vest on August 7, 2026, and 1/36th of the remaining number of shares subject to the option vest monthly thereafter, subject to the Reporting Person's continuous service to the Issuer through each vesting date.


Reflects shares of restricted stock granted pursuant to the INNOVATE Corp. Second Amended and Restated 2014 Omnibus Equity Award Plan, as amended.  Shares will vest and become exercisable on the first anniversary of the date of grant (the "Vesting Date"), subject to the continued employment of the Reporting Person on the Vesting Date.

Reporting Person is the Trustee of "Paul K Voigt Rev Trust, Paul K Voigt TTEE U/A DTD 11/20/2008 By Paul K Voigt" and has sole voting and investment control.

Reporting Person is the Manager of Jessie Holdings LLC and has sole voting and investment control.


The price reported in Column 4 is a weighted average sale price. The shares of Common Stock were sold in multiple transactions at prices ranging from $374.32 to $375.30, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth herein.

The price reported in Column 4 is a weighted average sale price. The shares of Common Stock were sold in multiple transactions at prices ranging from $375.31 to $376.295, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth herein.

The price reported in Column 4 is a weighted average sale price. The shares of Common Stock were sold in multiple transactions at prices ranging from $376.30 to $377.29, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth herein.

The price reported in Column 4 is a weighted average sale price. The shares of Common Stock were sold in multiple transactions at prices ranging from $377.305 to $378.285, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth herein.

The price reported in Column 4 is a weighted average sale price. The shares of Common Stock were sold in multiple transactions at prices ranging from $378.305 to $379.26, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth herein.

The price reported in Column 4 is a weighted average sale price. The shares of Common Stock were sold in multiple transactions at prices ranging from $379.32 to $380.27, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth herein.

The price reported in Column 4 is a weighted average sale price. The shares of Common Stock were sold in multiple transactions at prices ranging from $380.355 to $381.09, inclusive. The Reporting Person undertakes to provide upon request by the staff of the Securities & Exchange Commission, the Issuer or any security holder of the Issuer, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth herein.

/s/ Austin Y. Ke, attorney-in-fact for Ronda E. Stryker


Represents a bona fide gift to Leinwand Family Living Trust.

The Reporting Person and his spouse are both trustees and beneficiaries of Leinwand Family Living Trust.

/s/ Bradley K. Serwin, as attorney-in-fact


Price indicated is the weighted average purchase price as a result of a series of broker-assisted transactions ranging in price from $30.82 to $31.64 per share. The reporting person undertakes to provide full information regarding the number of shares purchased at each separate price within the range upon request by the SEC staff, the issuer, or any security holder of the issuer.

Price indicated is the weighted average purchase price as a result of a series of broker-assisted transactions ranging in price from $31.62 to $31.96 per share. The reporting person undertakes to provide full information regarding the number of shares purchased at each separate price within the range upon request by the SEC staff, the issuer, or any security holder of the issuer.

Price indicated is the weighted average sales price as a result of a series of broker-assisted transactions ranging in price from $31.18 to $31.99 per share. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the range upon request by the SEC staff, the issuer, or any security holder of the issuer.


On August 6, 2025, the reporting person transferred 86 shares of VSE common stock to the Mark E. Ferguson III Revocable Trust for no consideration. The reporting person and his spouse are co-trustees of the trust, and the reporting person's two children are sole beneficiaries of the trust.


Common Stock

Common Stock

Common Stock

This Form 4 is filed jointly by Biotechnology Value Fund, L.P. ("BVF"), Biotechnology Value Fund II, L.P. ("BVF2"), Biotechnology Value Trading Fund OS LP ("Trading Fund OS"), BVF Partners OS Ltd. ("Partners OS"), BVF I GP LLC ("BVF GP"), BVF II GP LLC ("BVF2 GP"), BVF GP Holdings LLC ("BVF GPH"), BVF Partners L.P. ("Partners"), BVF Inc. and Mark N. Lampert (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a Section 13(d) group. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

Securities owned directly by BVF. As the general partner of BVF, BVF GP may be deemed to beneficially own the securities owned directly by BVF. As the sole member of BVF GP, BVF GPH may be deemed to beneficially own securities owned directly by BVF. As the investment manager of BVF, Partners may be deemed to beneficially own the securities owned directly by BVF. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF.

Securities owned directly by BVF2. As the general partner of BVF2, BVF2 GP may be deemed to beneficially own the securities owned directly by BVF2. As the sole member of BVF2 GP, BVF GPH may be deemed to beneficially own securities owned directly by BVF2. As the investment manager of BVF2, Partners may be deemed to beneficially own the securities owned directly by BVF2. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF2. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF2.

Securities owned directly by Trading Fund OS. As the general partner of Trading Fund OS, Partners OS may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment manager of Trading Fund OS and the sole member of Partners OS, Partners may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by Trading Fund OS. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by Trading Fund OS.

On August 5, 2025, the Reporting Persons exercised the pre-funded warrants to purchase 2,920,000 shares of the Issuer's common stock for $0.0001 per share.The Reporting Persons paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 156 of the warrant shares to pay the exercise price and issuing to the Reporting Persons the remaining 2,919,844 shares.


Class A Common Stock

One unit is equivalent to one share of UPS Class A common stock.

Grant of phantom stock units pursuant to Deferred Compensation Plan.

Phantom stock units generally become payable in shares of Class A common stock or cash upon termination of service as a director.

Includes units credited upon the payment of dividends on the underlying Class A common stock.


Represents the date that the compensation committee determined that the metrics with respect to the shares underlying the RSUs granted in 2022 had been satisfied. The related performance period ended June 30, 2025.


By REIT Mgt. Corp. pension and profit sharing trusts

Reporting person is a trustee of Gould Investors L.P. Pension Trust.

Reporting person is a trustee of each of the REIT Management Corp. Pension Plan and the REIT Management Corp. 401(k) Tax Deferred Savings Plan Profit Sharing Trust, which in the aggregate own the number of shares shown.


Includes shares acquired through issuer's dividend reinvestment plan.

Reporting person is a trustee of BRT Apartments Corp. Pension Trust, which owns these shares.

Reporting person is custodian of these shares for a minor.  Reporting person disclaims any benefiical interest in these shares.


Reporting person is a director of the Gould Shenfeld Family Foundation. Includes shares acquired through issuer's dividend reinvestment plan.

These shares are owned by Georgetown Partners LLC.  Reporting person is a manager of Georgetown Partners LLC. These shares represent all of the shares of issuer owned by Georgetown Partners LLC.

Reporting person is a manager of 130 Store Company LLC. Reporting person disclaims a beneficial ownership of these securities to the extent he does not have a pecuniary interest therein.

These shares are owned by Gould Investors L.P.  Reporting person is a manager of Georgetown Partners LLC, the managing general partner of Gould Investors L.P. These shares represent all of the shares of issuer owned by Gould Investors L.P.  Includes shares obtained through the issuer's dividend reinvestment plan.

/s/ Jeffrey A. Gould by Isaac Kalish, his attorney in fact


Includes shares acquired though issuer's dividend reinvestment plan.

Reporting person disclaims any beneficial interest in said shares.

/s/ Fredric H. Gould by Isaac Kalish, his attorney in fact


Reporting person is a trustee of the Gould Shenfeld Family Foundation. Includes shares acquired through issuer's dividend reinvestment plan.

Reporting person is a trustee of the BRT Apartments Corp. Pension Trust, which owns these shares.

The reporting person disclaims beneficial ownership of these securities to the extent he does not have a pecuniary interest therein.

These shares are owned by Gould Investors L.P.  Reporting person is the chairman of the corporate managing general partner of Gould Investors L.P., and he holds limited partnership interests in Gould Investors L.P.  These shares represent all of the shares of issuer owned by Gould Investors L.P., including shares in which he does not have a pecuniary interest.  Includes shares obtained through the issuer's dividend reinvestment plan.

/s/ Matthew J. Gould by Isaac Kalish, his attorney in fact


The reporting person's spouse is a co-trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of section 16 or for any other purpose.

Represents the date that the compensation committee determined that the metrics with respect to the shares underlying the RSUs granted in 2022 had been satisfied. The related performance period ended June 30, 2025.


Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

Total reflects cancellation of some fractional shares due to rounding down upon each vesting of restricted stock units per award terms.

/s/ Eryk J. Spytek by Power of Attorney from Steven J. Younes


/s/ Eryk J. Spytek by Power of Attorney from Marc Schroeder


The Reporting Person was awarded a bonus for his past service as an employee of a Canadian affiliate of North American Realty Services, LLLP, a Florida limited liability limited partnership ("NARS"), in the form of shares of the Issuer's common stock ("Shares") that NARS acquired as part of the completion of the transactions in connection with the Issuer's initial public offering. The number Shares reported in Table I reflects the number of Shares transferred by NARS, through its affiliate, to the Reporting Person in fulfillment of such bonus, net of applicable withholding taxes.

These Shares are held in trust by a third-party administrator in a Registered Retirement Savings Plan (RRSP) in Canada.


/s/ Eryk J. Spytek by Power of Attorney from Michael J. Smith


The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 7, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $370.962 to $371.957, inclusive. The reporting person undertakes to
provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $371.96 to $372.95, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (3) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $372.963 to $373.960, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (4) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $373.97 to $374.93, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (5) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $374.98 to $375.90, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (6) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $376.04 to $376.75, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (7) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $377.22 to $378.19, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (8) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $378.24 to $378.77, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (9) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $379.89 to $380.77, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (10) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $381.05 to $381.49, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (11) to this Form 4.

Consists of (i) 14,391 shares of Common Stock; (ii) 510 restricted stock units that vest in full on February 25, 2026; (iii) 511 restricted stock units that vest in full on June 12, 2026; (iv) 1,551 restricted stock units that vest ratably on each of February 25, 2026 and February 25, 2027; and (v) 2,157 restricted stock units that vest ratably on each of February 25, 2026, February 25, 2027 and February 25, 2028.

The signatory is signing on behalf of Greg Gates pursuant to a Power of Attorney dated December 17, 2024.

/s/ Robert S. Hatfield III, attorney-in-fact


Class B Common Stock

Class A Common Stock

Class A Common Stock

This sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan, adopted January 15, 2025.

1/4 of the shares subject to the option vested on August 20, 2019, and 1/48 of the shares vested monthly thereafter.

Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon the sale or transfer of such share of Class B Common Stock, subject to certain exceptions, and in certain other circumstances described in the Issuer's amended and restated certificate of incorporation. Each share of Class B Common Stock will also be convertible at any time at the option of the Reporting Person into one share of Class A Common Stock.


Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

Total reflects cancellation of some fractional shares due to rounding down upon each vesting of restricted stock units per award terms.

/s/ Eryk J. Spytek by Power of Attorney from Bernadette M. Madarieta


Represents shares withheld to pay taxes applicable to vesting of restricted stock units.


Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 9, 2024.

Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $20.00 to $20.04. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Includes (i) 46,750 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 58,281 unvested RSUs and 31,250 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.


Series A Perpetual Stretch Preferred Stock

Series A Perpetual Stride Preferred Stock

Series A Perpetual Strife Preferred Stock

Class A Common Stock

The 6,250 shares exercised on August 5, 2025 pursuant to this option vested on May 18, 2024. Of the remaining 106,250 shares subject to this option, 31,250 shares vested on May 18, 2024, 37,500 shares vested on May 18, 2025, and 37,500 shares are scheduled to vest on May 18, 2026.


The limited stock appreciation right ("SAR") and employee stock option were granted in tandem. Accordingly, the exercise of one results in the expiration of the other. The SAR may be exercised only during the period beginning on the first day following the date that a "Change in Control" of Issuer occurs (as defined in the related grant agreement) and ending on the thirtieth day following such date. Upon exercise, the grantee shall be able to receive an amount equal to the product computed by multiplying (i) the excess of the "Offer Value Per Share" over the exercise price of the underlying option by (ii) the number of shares with respect to which the SAR is being exercised; provided, that such amount shall only be payable in the event an "Offer" is made.

The "Offer Value Per Share" means the average selling price of Issuer's common stock during the period of 30 days ending on the date on which the SAR is exercised. "Offer" means any tender offer or exchange offer for outstanding shares of Issuer representing at least 30% of the total voting power of the stock of Issuer, or an offer to purchase assets from Issuer that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of Issuer, other than an offer made by Issuer.

The options shall vest in substantially equal one-third increments on each of the following dates as long as grantee serves as an employee of Issuer or an affiliate thereof through the applicable vesting date: August 6, 2026, August 6, 2027 and August 6, 2028.


/s/ Eryk J. Spytek by Power of Attorney from Gregory W. Jones


This transaction represents a gift/charitable contribution effective August 5, 2025. This is not a market transaction, thus no price has been reported. No value was received for the gifted shares.


Shares withheld to satisfy tax withholding obligation arising upon the vesting of restricted stock units (RSU). Each RSU represents a right to receive one share of Registrant common stock upon vesting.

John Casagrande, attorney-in-fact for Rosamund Marshall


Includes an aggregate of 291,093 shares of common stock issuable pursuant to previously reported restricted stock units and performance-based restricted stock units that have not vested.  These unvested units include 88,540 restricted stock units that vest over time, and 202,553 performance-based restricted stock units that vest based on certain absolute and relative price performance of the issuer's common stock over various performance periods.

The reportable securities are owned directly by Aldebran Rajesh Family Dynasty Trust DTD 09/23/2021, of which the Reporting Person is one of the managers and has voting and investment power over the shares.

The reportable securities are owned directly by Aldebran Rohini Family Dynasty Trust DTD 09/23/2021, of which the Reporting Person is one of the managers and has voting and investment power over the shares.

The reportable securities are owned directly by Aldebran Constellation LLC, of which the Reporting Person is one of the managers and has voting and investment power over the shares.


/s/ Eryk J. Spytek by Power of Attorney from Michael C. Crowley


Represents a grant of Restricted Stock Units (RSUs) pursuant to the Stryker 2011 Long-Term Incentive Plan, which vest as follows: one-third of the shares on August 1, 2026; one-third of the shares on August 1, 2027; and the remaining one-third of the shares on August 1, 2028.

Each RSU represents a contingent right to receive one share of Stryker Common Stock.

VP, Chief Digital and Information Officer.

/s/ Austin Y. Ke, attorney-in-fact for Debra King


Eschenbach Family Trust dtd 4/15/2014, Carl Eschenbach Jr and Ana Eschenbach TTEE

Represents shares withheld by the Issuer to satisfy the tax withholding obligation in connection with the vesting of performance restricted stock units (PRSUs).

Includes 274,757 restricted stock units (RSUs) and 195,682 PRSUs, each of which entitle the Reporting Person to receive one share of Class A Common Stock upon settlement. All grants are subject to the Reporting Person's continued service with the Issuer on the applicable vesting dates.

The trust is in the name of the Reporting Person and his spouse, who are both trustees and beneficiaries of the trust.


Common Stock

The option vests in four equal annual installments, with the first group vesting on August 5, 2026.

/s/ Benjamin S. Borden, Attorney-In-Fact


Class A Common Stock

Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock (or its cash equivalent, at the discretion of the Issuer).

The RSUs were granted on August 5, 2025, and vest in four equal annual installments commencing on August 5, 2025, provided that the Reporting Person has provided continuous service to the Issuer through the vesting date.


Common Stock


Institutional Investment Strategy - Founder Class Shares


Common Stock

Common Stock

Restricted stock units ("RSUs") granted on August 5, 2022 represent a contingent right to receive shares of common stock of Applied Digital Corporation the "Issuer") on a one-for-one basis. The RSUs have no expiration date and vest as follows: 20,833 on each of February 5, 2023 and August 5, 2023, 20,834 on February 5, 2024, 20,833 on each of August 5, 2024 and February 5, 2025, and 20,834 on August 5, 2025, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.

Represents the withholding of shares of common stock of the Issuer for tax purposes in connection with the vesting of RSUs previously granted, which does not constitute an actual sale or other open market transaction.

RSUs granted on August 5, 2022 represent a contingent right to receive shares of common stock of the Issuer on a one-for-one basis. The RSUs have no expiration date and vest as follows: 41,667 on August 5, 2023, 20,833 on each of February 5, 2024, August 5, 2024 and February 5, 2025, and 20,834 on August 5, 2025, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.


/s/ Tim Whisler, on behalf of and as attorney-in-fact for Sarah Feinberg


Common Stock

The option vests in two equal installments, with the first group vesting on October 25, 2026, and the second group vesting on April 25, 2027.


The price in column 4 is a weighted average price. The prices actually paid for the stock ranged from $3.693132 to $3.695 per share. The reporting person has provided the Company, and upon request, will provide any security holder of the Company or the SEC staff, with information regarding the number of shares acquired at each price within that range.

/s/ Kathryn Murray, as Attorney-in-Fact for Kathleen Elizabeth Johnson


Includes 127 shares of Stryker Common Stock acquired pursuant to Stryker Corporation's Employee Stock Purchase Plan ("ESPP") as of June 30, 2025, the date of the latest available statement of the reporting person's ESPP holdings.

/s/ Austin Y. Ke, attorney-in-fact for M Kathryn Fink


Open market purchases reported on this line occurred at a weighted average price of $389.08 (range $388.71 to $389.43).

Dr. Kewalramani undertakes to provide (upon request by the SEC staff, the issuer or a security holder of the issuer) full information regarding the number of shares purchased at each separate price.

Open market purchases reported on this line occurred at a weighted average price of $389.95 (range $389.72 to $390.53).

/s/ Christiana Stevenson, Attorney-in-Fact


These shares were withheld by the Company to satisfy the reporting person's tax obligation associated with previously reported awards of restricted stock units. This share withholding was authorized in the restricted stock award agreement.

/s/ Ramune M. Kligys by PoA of Christopher R. Cage


This number represents common shares withheld to satisfy the tax withholding obligations due upon vesting of restricted share units.


/s/ Tim Whisler, on behalf of and as attorney-in-fact for Gregg A. Saretsky


This transaction involved gifts of securities to the trusts of Mr. Auld's four adult children. These adult children live outside Mr. Auld's household. Mr. Auld disclaims beneficial ownership of the shares gifted.

Following all transactions listed on this Form 4, Mr. Auld owns directly 865,672 shares of DHI common stock and indirectly holds 233,700 shares of DHI common stock.


Common Stock

Shares withheld by HP to satisfy tax withholding upon vesting of Restricted Stock Units ("RSUs").

Each RSU represents a contingent right to receive one share of HP common stock.

On 8/5/2024, the reporting person was granted 458,015 RSUs, 1/3 of which vest annually over 3 years on 8/5/2025, 8/5/2026 and 8/5/2027, respectively. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The number of derivative securities in column 5 includes 5,852 dividend equivalent units.

/s/ Rick Hansen as Attorney-in-Fact for Karen L. Parkhill


Grant of restricted share units (payable solely in common shares of the Issuer on each vesting date), vesting in three equal annual installments on August 6 of each of the years 2026 through 2028.

/s/ Jeanette L. Miller, Attorney-in-fact for Todd R. Sutherland


/s/ Christina Banthin, Authorized Signatory of American International Group, Inc.


Open market purchases reported on this line occurred at a weighted average price of $389.36 (range $388.61 to $389.60).

Mr. Sachs undertakes to provide (upon request by the SEC staff, the issuer or a security holder of the issuer) full information regarding the number of shares purchased at each separate price.

Open market purchases reported on this line occurred at a weighted average price of $389.84 (range $389.61 to $390.00).


/s/ Brian J. Decker, Attorney in Fact for Melanie A. Huet


Restricted Stock Award (the "August 2025 Restricted Stock Award"), pursuant to which the applicable restricted shares shall vest ratably and in three equal installments commencing with, and on the subsequent anniversaries of, August 5, 2025.

In connection with the vesting of a portion of the August 2025 Restricted Stock Award (8,538 shares) on August 5, 2025, 2,991 shares were withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations.

Represents 3,503 shares reacquired by the Issuer to satisfy tax withholding obligations in connection with the vesting of 10,000 shares of restricted stock granted to the Reporting Person on August 5, 2024.

Represents 3,502 shares reacquired by the Issuer to satisfy tax withholding obligations in connection with the vesting of 10,000 shares of restricted stock granted to the Reporting Person on August 5, 2023.


Common Stock

Restricted stock units ("RSUs") granted on August 5, 2022 represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis. The RSUs have no expiration date and vest as follows: 83,333 on each of February 5, 2023 and August 5, 2023, 83,334 on February 5, 2024, 83,333 on each of August 5, 2024 and February 5, 2025, and 83,334 on August 5, 2025.

Includes 742,166 shares held in the Reporting Person's IRA.

Represents the withholding of shares of common stock of the Issuer for tax purposes in connection with the vesting of RSUs previously granted, which does not constitute an actual sale or other open market transaction.

Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.

Shares are held by B. Riley Asset Management, LLC, of which the Reporting Person is the President.


The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $52.55 to $52.68, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.


The sale of shares of common stock reported in this Form 4 was effected pursuant to a Rule 10b5-1 plan adopted May 5, 2025 for tax and estate planning purposes.

The price reported above reflects the weighted average purchase price, rounded to the nearest hundredth. The highest price at which the shares were purchased was $20.75 and the lowest price at which the shares were purchased was $20.49. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote in this Form 4.

Dividend equivalent units ("DEUs") issued on restricted unit awards are included in the reporting person's common stock holding balance. Each DEU is the economic equivalent of one share of common stock of Annaly Capital Management, Inc. and payable in one share for each whole DEU.


Transaction made pursuant to a 10b5-1 trading plan that was adopted by K. Charles Janac, as the manager of Bayview Legacy, LLC, on March 5, 2025.

K. Charles Janac, in his individual capacity, has separately filed a Form 4 on the date hereof reporting the same transaction given his beneficial ownership of the reported security through Bayview Legacy, LLC, which he controls as its manager.

The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $12.35 to $14.20 inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

K. Charles Janac is the manager of Bayview Legacy, LLC and as such is deemed to have voting and dispositive power over the shares beneficially owned by Bayview Legacy, LLC.


/s/ Paul J. Krause, as Power of Attorney


Restricted Stock Award (the "August 2025 Restricted Stock Award"), pursuant to which the applicable restricted shares shall vest ratably and in three equal installments commencing with, and on the subsequent anniversaries of, August 5, 2025.

In connection with the vesting of a portion of the August 2025 Restricted Stock Award (13,776 shares) on August 5, 2025, 6,384 shares were withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations.

Represents 5,098 shares reacquired to satisfy tax withholding obligations in connection with the vesting of 11,000 shares of restricted stock granted to the Reporting Person on August 5, 2024.

Represents 5,097 shares reacquired to satisfy tax withholding obligations in connection with the vesting of 11,000 shares of restricted stock granted to the Reporting Person on August 5, 2023.


Daniel V. Logue with POA for Andrew Krakauer


/s/ Thomas H. Watson, by power of attorney for Jonathan M. Tisch


Non-Qualified Stock Option (right to buy)

Common Stock

The options were granted under the 2025 Supplemental Option Plan of the Issuer. The options vested immediately, but were not exercisable until or unless the closing of the transactions contemplated by the July 29, 2025, Securities Purchase Agreement between the Issuer and the purchasers set forth therein occurred, which closing date was August 4, 2025. Separately, the options are not exercisable until stockholder approval of the 2025 Plan is received. If stockholder approval is not received prior to July 29, 2026, the options will be cancelled.

Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as a director of the Issuer.


The Reporting Person sold shares of common stock for general operating purposes.

Taiwan Carbon Nano Technology Corporation By: /s/ Chun-Hsien Tsai, Chairman, Chief Executive Officer


Represents shares withheld by the Company to satisfy tax withholding obligations in connection with the vesting of restricted stock units previously granted to the reporting person.


Common Stock, par value $0.0001 per share ("Common Stock")

The price reported in Column 4 is a weighted average price. These shares of Common Stock were purchased in multiple transactions at prices ranging from $3.2461-$3.252. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock purchased at each separate price within the ranges set forth in this footnote (1) to this Form 4.

The securities reported herein are owned by ST Investors Fund, LLC, a limited liability company of which the Reporting Person is its secretary and treasurer.

The securities reported herein are owned by Korsak Holdings, LLC, a limited liability company of which the Reporting Person is its secretary and treasurer.

The securities reported herein are owned by Madetys Investments, LLC, a limited liability company of which the Reporting Person is the general manager.

The Reporting Person disclaims beneficial ownership of the securities described in this statement, except to the extent of his pecuniary interest in such securities.


Common Stock, $.0001 par value ("Common Stock")

The price reported in Column 4 is a weighted average price per share. These shares of Common Stock were purchased in multiple transactions at prices ranging from $3.195-$3.25 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock purchased at each separate price within the ranges set forth in this footnote (1) to this Form 4.

The price reported in Column 4 is a weighted average price per share. These shares of Common Stock were purchased in multiple transactions at prices ranging from $3.195-$3.2425 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock purchased at each separate price within the ranges set forth in this footnote (2) to this Form 4.


Shares of common stock are held by Mr. Parish as co-trustee of the Douglas J Parish Revocable Trust, dated May 27, 2022. Mr. Parish possesses shared voting and investment power with respect to the shares of common stock held under the trust.


Transaction made pursuant to a 10b5-1 trading plan that was adopted by the Reporting Person on June 13, 2024.

The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $14.00 to $14.20 inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

/s/ Paul Alpern, as Attorney-in-Fact for Viana Antonio J.


Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012

Transaction made pursuant to a 10b5-1 trading plan that was adopted by the Reporting Person on June 6, 2024.

The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $12.35 to $14.20 inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The shares are held by Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust for which the Reporting Person serves as trustee.

/s/ Paul Alpern, as Attorney-in-Fact for S. Atiq Raza


/s/ Louis J. Thorson, Attorney-in-Fact for Jay L. Geldmacher


Transaction made pursuant to a 10b5-1 trading plan that was adopted by the Reporting Person on March 12, 2025.

The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $12.90 to $14.20 inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

/s/ Paul Alpern, as Attorney-in-Fact for Moll Laurent R


Class A Common Stock

Each stock-settled performance stock unit is the economic equivalent of one share of News Corporation's Class A Common Stock.

The stock-settled performance stock units were granted to the Reporting Person after the achievement of pre-determined performance measures over the three-year performance period and shall vest on August 15, 2025.

/s/ Kenneth C. Mertz as Attorney-in-Fact for Ruth Allen


Transaction made pursuant to a 10b5-1 trading plan that was adopted by the Reporting Person on May 20, 2024.

The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $12.34 to $14.20 inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

/s/ Paul Alpern, as Attorney-in-Fact for Hawkins Nicholas B.


Class A Common Stock

/s/ Kenneth C. Mertz as Attorney-in-Fact for David B. Pitofsky


Transaction made pursuant to a 10b5-1 trading plan that was adopted by the Reporting Person on March 5, 2025.

The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $12.57 to $14.20 inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The Reporting Person is the manager of Bayview Legacy, LLC and as such is deemed to have voting and dispositive power of the shares beneficially owned by Bayview Legacy, LLC.

The shares are held by Charles and Lydia Janac Trust, for which the Reporting Person serves as trustee.

/s/ Paul Alpern, as Attorney-in-Fact for JANAC K CHARLES


Class A Common Stock

Each cash-settled performance stock unit is the economic equivalent of one share of News Corporation's Class A Common Stock.

The cash-settled performance stock units were granted to the Reporting Person after the achievement of pre-determined performance measures over the three-year performance period and shall vest on August 15, 2025.

/s/ Kenneth C. Mertz as Attorney-in-Fact for Keith Rupert Murdoch


Class A Common Stock

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A common stock of the Issuer. The RSUs will be settled in either Class A common stock of the Issuer or cash (or a combination thereof). These RSUs vest annually over four years as follows: 20% on August 5, 2022; 20% on August 5, 2023; 20% on August 5, 2024; and 40% on August 5, 2025.

Represents shares withheld in connection with the vesting of restricted stock units to cover tax withholding obligations.

/s/ Scott Andreasen, as Attorney-in-Fact


Daniel V. Logue with POA for Gretchen R. Haggerty