Sieger Markus 4

What Happened
Markus Sieger, a director of Rafael Holdings, received a grant of 29,528 restricted shares on January 28, 2026. The shares were issued at $1.27 each for a total value of $37,501 and, per the filing, they vested in full immediately (footnote F1). This was an award/grant (transaction code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-01-28; Filing date: 2026-01-30 (filed within the typical 2‑business‑day window).
• Price: $1.27 per share; Total value: $37,501. (Footnote F2 notes $1.27 represents the issuer’s average Class B closing price during December 2025.)
• Shares received: 29,528 restricted shares that vested immediately (F1).
• Shares owned after transaction: 219,710 total (29,528 newly issued + 190,182 already held directly) (F3).
• Transaction type: Award/grant (code A). No sale or market purchase involved.

Context
Restricted stock awards that vest immediately are compensation and do not represent an insider buying shares on the open market, so they are not the same signal as a voluntary purchase. For retail investors, this increases the director’s reported stake to 219,710 shares but should be viewed as compensation-related rather than a direct market vote.