[Form 4] ACACIA RESEARCH CORP Insider Trading Activity

Rhea-AI Filing Summary

Gavin T. Molinelli, a director of Acacia Research Corp (ACTG), received 9,231 shares of the company's common stock on 09/30/2025 as payment in lieu of cash for director fees for Q3 2025. The shares were issued at a price of $3.25 per share. After the grant, Mr. Molinelli beneficially owned 160,218 shares of Acacia Research Corp.

The Form 4 was signed by Mr. Molinelli on 10/01/2025 and reports a routine, non-derivative acquisition of equity tied to director compensation. The filing shows direct ownership and does not report any derivative transactions.

Positive

• Director received equity compensation (9,231 shares) which aligns his interests with shareholders
• Increased insider ownership: beneficial holdings rose to 160,218 shares
• No derivative transactions reported, indicating a straightforward equity grant

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director compensation converted to equity; modest insider buy-in without derivative exposure.

The Form 4 discloses a non-derivative issuance of 9,231 common shares to a director in lieu of cash fees, increasing his direct holdings to 160,218 shares. This is a standard corporate governance practice to align management and board incentives with shareholders. The transaction is small relative to most public-company capital structures and contains no exercised options or convertible instruments, indicating limited immediate market impact.

Corporate Governance Expert

TL;DR: A routine equity-based director fee grant that increases insider alignment; no governance red flags disclosed.

The disclosure identifies the reporting person as a director and shows the grant explicitly provided "in lieu of cash" for Q3 2025 director fees. The filing records direct beneficial ownership and a manual signature dated 10/01/2025. Based solely on the Form 4 content, this is a routine remuneration event and does not present material governance concerns.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Molinelli Gavin

(Last) (First) (Middle)

777 THIRD AVENUE, 18TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ACACIA RESEARCH CORP [ ACTG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001	09/30/2025		A		9,231(1)	A	$3.25	160,218	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Grant of shares of Common Stock in lieu of cash for Q3 2025 director fees.

	/s/ Gavin T. Molinelli	10/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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