Reginelli Edward 4
Accession 0002084812-26-000005
Filed
Jan 22, 7:00 PM ET
Accepted
Jan 23, 7:39 PM ET
Size
11.3 KB
Accession
0002084812-26-000005
Research Summary
AI-generated summary of this filing
BitGo (BTGO) CFO Edward Reginelli Exercises Options, Receives Award
What Happened
Edward Reginelli, Chief Financial Officer of BitGo Holdings (BTGO), exercised stock options and received a restricted stock unit award. On 2025-09-25 he exercised options that resulted in the acquisition of 173,000 shares at $0.21 per share (total cash paid $36,330). Those same 173,000 shares were reported as disposed (125,000 and 48,000 shares) at $0.00 each (derivative transactions), consistent with a net-share settlement or share surrender to cover the exercise and/or tax obligations. Separately, on 2025-09-17 he acquired 26,000 restricted stock units (RSUs) at $0.00.
Key Details
- Transaction dates and prices:
- 2025-09-17: Received 26,000 RSUs (award) at $0.00 (F2).
- 2025-09-25: Exercised options acquiring 173,000 shares at $0.21 ($36,330 total) (M).
- 2025-09-25: Disposed 125,000 shares at $0.00 (derivative) and 48,000 shares at $0.00 (derivative), totaling 173,000 shares.
- Shares owned after transaction: Not specified in the filing.
- Notable footnotes from the filing:
- F1: One transaction occurred prior to the issuer’s Section 12 registration and is reported under Rule 16a‑2(a).
- F2: The 26,000 RSUs were acquired in an exempt transaction with the issuer.
- F3: The options are fully vested.
- F4: Vesting schedule note: 25% vested on Sept 15, 2023; remaining 75% vests monthly thereafter while in service.
- Filing timeliness: The Form 4 was filed on 2026-01-23 for transactions in September 2025 — this is a delayed filing and may affect timely public disclosure.
Context
- The exercised options (code M) created newly acquired shares; the subsequent disposals reported at $0.00 are derivative-based (common for net-share settlement or tax withholding) and are not the same as an open-market sale. The filing does not indicate an immediate open-market sale of shares for cash proceeds.
- Awards (RSUs) are typically compensation and do not by themselves indicate a trading view. The exercise and the concomitant share surrender often reflect option settlement mechanics rather than a directional bet by the insider.
Insider Transaction Report
- Award
Class A Common Stock
[F1][F2]2025-09-17+26,000→ 295,000 total - Exercise/Conversion
Class A Common Stock
[F1]2025-09-25$0.21/sh+173,000$36,330→ 468,000 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F3]2025-09-25−125,000→ 0 totalExercise: $0.21Exp: 2032-06-29→ Class A Common Stock (125,000 underlying) - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F4]2025-09-25−48,000→ 16,000 totalExercise: $0.21Exp: 2032-10-06→ Class A Common Stock (48,000 underlying)
Footnotes (4)
- [F1].The transaction occurred prior to the Issuer's registration of a class of equity securities under Section 12 of the Exchange Act in connection with the Issuer's initial public offering, and the transaction is reported herein pursuant to Rule 16a-2(a).
- [F2]Represents a restricted stock unit award that was acquired through an exempt transaction with the Issuer.
- [F3]The options are fully vested.
- [F4]The options vested as to 25% of the award, from which certain shares have been previously exercised, on September 15, 2023. The remaining 75% of the option will vest in equal monthly installments thereafter until such time as the options are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
Signature
Documents
Issuer
BITGO HOLDINGS, INC.
CIK 0001740604
Related Parties
1- filerCIK 0002084812
Filing Metadata
- Form type
- 4
- Filed
- Jan 22, 7:00 PM ET
- Accepted
- Jan 23, 7:39 PM ET
- Size
- 11.3 KB