Fusion Fuel Green PLC 4

4 · Quality Industrial Corp. · Filed Mar 24, 2026

AI-generated summary of this filing

Updated Mar 24, 2026

QIND 10% Owner Converts Series B Preferred into 8.5M Shares

What Happened

A 10% owner reported converting Series B Convertible Preferred Stock into common stock on Feb 23, 2026. The filing shows 8,500,000 common shares were acquired at $0.00 (total value $0) through conversion, and 8,500 derivative/preferred shares were disposed (converted) at $0.00. This was a conversion of a derivative security (not an open-market purchase or sale).

Key Details

Transaction date: 2026-02-23; Filing date (Form 4): 2026-03-24 (appears late — approx. one month after the transaction).
Conversion amounts: Disposed 8,500 shares of Series B Convertible Preferred; Acquired 8,500,000 common shares. Price per share: $0.00 (no cash exchanged).
Shares owned after transaction: Not specified in the provided excerpt.
Footnote: Each Series B preferred share converts into 1,000 common shares for no cash consideration, subject to a 9.99% beneficial ownership cap and other conversion limits (see footnote F1).
Transaction type: Conversion of derivative securities (code C on the form) — treated as an acquisition of common stock by conversion, not a market buy.

Context

This is a corporate capital-structure conversion by a 10% owner (institutional/large holder), not an executive market trade. Conversions at $0 often reflect contractual conversion rights rather than a purchase decision, and do not necessarily signal buy/sell sentiment. The late filing may affect timeliness analysis for compliance tracking but does not change the underlying conversion facts.

Form 4

Period: 2026-02-23

10% Owner

Transactions

Conversion
Common Stock
2026-02-23+8,500,000→ 100,312,334 total
Conversion
Series B Convertible Preferred Stock
[F1]
2026-02-23−8,500→ 0 total
From: 2024-11-26→ Common Stock (8,500,000 underlying)

Footnotes (1)

[F1]Each share of Series B Convertible Preferred Stock of the issuer is convertible, for no cash consideration, into 1,000 shares of common stock of the issuer at the option of the reporting person, except in the event that such conversion would result in such holder's beneficial ownership of the common stock of the issuer exceeding 9.99% of the outstanding common stock of the issuer immediately after conversion and subject to other applicable limitations or prohibitions on conversion of the Series B Convertible Preferred Stock, and has no expiration date.

Signature

/s/ John-Paul Backwell|2026-03-23

1 file