Director at Acacia Research (NASDAQ: ACTG) gets 25,052-share stock grant

Rhea-AI Filing Summary

FELMAN MICHELLE reported acquisition or exercise transactions in this Form 4 filing.

ACACIA RESEARCH CORP director Michelle Felman reported an equity grant of company stock. On June 23, 2026, she received 25,052 shares of ACTG common stock at no cash cost as a grant or award, increasing her direct holdings to 57,224 shares.

The award is restricted stock granted as part of the company’s annual equity program for non-employee directors under the 2024 Acacia Research Corporation Stock Incentive Plan. According to the terms, 100% of the restricted stock will vest on the first anniversary of the grant date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider FELMAN MICHELLE

Role null

Type	Security	Shares	Price	Value
Grant/Award	ACTG Common Stock	25,052	$0.00	--

Holdings After Transaction: ACTG Common Stock — 57,224 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock grant: 25,052 shares Grant price: $0.00 per share Post-transaction holdings: 57,224 shares +2 more

5 metrics

Restricted stock grant 25,052 shares Grant of ACTG common stock on June 23, 2026

Grant price $0.00 per share Stated transaction price for restricted stock award

Post-transaction holdings 57,224 shares Total ACTG common stock held directly after grant

Vesting schedule 100% after one year Restricted stock vests on first anniversary of June 23, 2026

Plan name 2024 Stock Incentive Plan Governs equity awards to non-employee directors

Key Terms

restricted stock, annual grant of equity awards, non-employee directors, Stock Incentive Plan

4 terms

restricted stock financial

"Grant of restricted stock awarded on June 23, 2026, as part of the Company's annual grant"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

annual grant of equity awards financial

"as part of the Company's annual grant of equity awards to non-employee directors"

non-employee directors financial

"annual grant of equity awards to non-employee directors, pursuant to the 2024 Acacia Research Corporation Stock Incentive Plan"

Non-employee directors are board members who do not work for the company as salaried employees and usually do not hold day-to-day management roles. They act like outside referees or independent coaches, providing oversight, asking tough questions, and protecting shareholders’ interests; investors care because these directors help ensure management is accountable, reduce conflicts of interest, and influence decisions that affect company strategy and long-term value.

Stock Incentive Plan financial

"pursuant to the 2024 Acacia Research Corporation Stock Incentive Plan"

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 04:10 PM Accepted by SEC EDGAR 06/25/2026 - 04:09 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

FELMAN MICHELLE

(Last) (First) (Middle)

777 THIRD AVENUE

SUITE 2602

(Street)

NEW YORK NEW YORK 10017

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2026

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

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

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

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
ACTG Common Stock	06/23/2026		A		25,052(1)	A	$0	57,224	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 restricted stock awarded on June 23, 2026, as part of the Company's annual grant of equity awards to non-employee directors, pursuant to the 2024 Acacia Research Corporation Stock Incentive Plan. 100% of the restricted stock will vest on the first anniversary of the grant date.

Remarks:

	Jennifer Graff, Attorney-in-fact	06/25/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did ACACIA RESEARCH CORP (ACTG) report for Michelle Felman?

ACACIA RESEARCH CORP reported that director Michelle Felman received a grant of 25,052 shares of ACTG common stock. This is characterized as a grant or award acquisition, not an open-market purchase, and reflects routine equity-based director compensation.

When does Michelle Felman’s new restricted stock in ACACIA RESEARCH (ACTG) vest?

The restricted stock granted to Michelle Felman will vest 100% on the first anniversary of the June 23, 2026 grant date. Until vesting, the shares are subject to restrictions as part of the company’s non-employee director equity program.

How many ACACIA RESEARCH (ACTG) shares does Michelle Felman hold after this Form 4 transaction?

After receiving the 25,052-share restricted stock grant, director Michelle Felman holds a total of 57,224 shares of ACTG common stock directly. This figure reflects her position immediately following the reported transaction.

What plan governs the restricted stock grant to ACACIA RESEARCH (ACTG) director Michelle Felman?

The restricted stock grant to Michelle Felman was made under the 2024 Acacia Research Corporation Stock Incentive Plan. It forms part of the company’s annual equity awards program for non-employee directors, aligning director compensation with company stock.

Is the ACACIA RESEARCH (ACTG) Form 4 transaction an open-market stock purchase or sale?

No, the Form 4 reports a grant/award acquisition of 25,052 restricted shares to director Michelle Felman at a stated price of $0.00 per share. It is compensation-related, not an open-market buy or sell transaction.