KEPLER GUST 4

What Happened Kepler Gust, listed as a 10% owner of REALLOYS, reported multiple dispositions. On 2026-03-13 he sold 49,000 common shares at $12.31 each (proceeds $602,974) and on 2026-03-16 he sold 71,000 common shares at $11.01 each (proceeds $781,511), totaling approximately $1,384,485 in cash sales. Separately, the filing shows a disposition on 2026-02-24 of 1,634,999 shares classified as a derivative (Series A Convertible Preferred Stock); the Form 4 line lists $0.00 for price/amount but a footnote indicates the Series A preferred were sold for $1.00.

Key Details

• Transaction dates/prices:
  • 2026-03-13: Sold 49,000 shares @ $12.31 — $602,974
  • 2026-03-16: Sold 71,000 shares @ $11.01 — $781,511
  • 2026-02-24: Disposed 1,634,999 Series A Convertible Preferred (reported as derivative; line shows $0.00)
• Total reported cash proceeds from the two common-share sales: ~$1,384,485.
• Footnotes of note:
  • F1: Series A Convertible Preferred Stock has no expiration and converts at holder’s election at 1:1 into common stock.
  • F2: The 1,634,999 shares of Series A Convertible Preferred were sold for $1.00 (per footnote), despite the derivative line showing $0.00.
• Shares owned after the transactions: not provided in the materials you supplied.
• Filing date: 2026-03-17; transactions reported span 2026-02-24 to 2026-03-16. (No timeliness flag supplied in the provided data.)

Context

• These are dispositions (sales) by a 10% owner — institutional/large-holder activity, not necessarily an executive trade. Sales are often routine and do not by themselves indicate company-specific bullish or bearish views.
• The 1,634,999-item is a derivative (Series A preferred) that is convertible 1:1 into common; the footnote indicates a separate sale price ($1.00) even though the derivative line shows $0.00. Derivative and preferred transactions can reflect structured deals or prior agreements rather than open-market trading.