Sphere 3D director buys 133K shares at $3.00
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Form Type
4
Rhea-AI Filing Summary
Sphere 3D Corp. (ANY) director Nicholas Ray Gates entered into a securities purchase agreement on September 8, 2026 to acquire 133,333 Common Shares at $3.00 per share and 133,333 Warrants to purchase Common Shares at an exercise price of $3.50, in a private placement expected to close on September 11, 2026 and described as exempt from Section 16(b) under Rule 16b-3(d)(1). Following these grants, he holds 189,888 Common Shares directly, including unvested restricted stock units, and 133,333 Warrants directly.
Insider Trade Summary
Grant/Award: 266,666 shares
Grant/Award
2 txns
Insider
Gates Nicholas Ray
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Warrants F1, F2 | 133,333 | -- | -- |
| Grant/Award | Common Shares F1, F2, F3 | 133,333 | $3.00 | $400K |
Holdings After Transaction:
Warrants — 133,333 contracts (Direct);
Common Shares — 189,888 shares (Direct)
Footnotes (3)
- F1. On September 8, 2026, the reporting person entered into a securities purchase agreement with Sphere 3D Corp. (the "Company") pursuant to which the reporting person agreed to purchase the Common Shares and Warrants in a private placement, which transaction is exempt from Section 16(b) in accordance with Rule 16b-3(d)(1) promulgated under the Securities Exchange Act of 1934, as amended. The private placement is expected to close on September 11, 2026.
- F2. The reporting person paid $3.00 per Common Share and accompanying Warrant to purchase one Common Share.
- F3. Includes unvested restricted stock units.
Key Figures
Common Shares acquired: 133,333 shares
Warrants acquired: 133,333 Warrants
Per-share purchase price: $3.00 per Common Share and accompanying Warrant
+4 more
7 metrics
Common Shares acquired
133,333 shares
Grant/award acquisition on September 8, 2026 at $3.00 per share
Warrants acquired
133,333 Warrants
Grant/award acquisition on September 8, 2026 in private placement
Per-share purchase price
$3.00 per Common Share and accompanying Warrant
Consideration paid in the private placement
Warrant exercise price
$3.50 per Common Share
Conversion or exercise price of Warrants
Common Shares held after transaction
189,888 shares
Direct holdings following acquisition, including unvested RSUs
Warrant expiration date
September 11, 2031
Expiration of Warrants to purchase Common Shares
Private placement expected closing date
September 11, 2026
Expected closing of the securities purchase agreement
Key Terms
securities purchase agreement, private placement, Rule 16b-3(d)(1), restricted stock units
4 terms
securities purchase agreement financial
"entered into a securities purchase agreement with Sphere 3D Corp."
A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.
private placement financial
"agreed to purchase the Common Shares and Warrants in a private placement"
A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.
Rule 16b-3(d)(1) regulatory
"exempt from Section 16(b) in accordance with Rule 16b-3(d)(1)"
restricted stock units financial
"Includes unvested restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Sphere 3D (ANY) director Nicholas Ray Gates acquire in this Form 4 filing?
He agreed to acquire 133,333 Common Shares and 133,333 Warrants to purchase Common Shares of Sphere 3D Corp. in a private placement, with the Warrants exercisable at $3.50 per share.
When is the Sphere 3D (ANY) private placement to Nicholas Ray Gates expected to close?
The private placement to Nicholas Ray Gates is expected to close on September 11, 2026, following his entry into the securities purchase agreement on September 8, 2026.
How many Sphere 3D (ANY) Warrants does Nicholas Ray Gates own after this Form 4 transaction?
Following the grant, Nicholas Ray Gates holds 133,333 Warrants directly, each Warrant being exercisable to purchase one Common Share at an exercise price of $3.50 until September 11, 2031.
Was the Sphere 3D (ANY) director’s private placement transaction under a Rule 10b5-1 trading plan?
No. The filing indicates that no Rule 10b5-1 trading plan applies, and instead notes that the private placement is exempt from Section 16(b) in accordance with Rule 16b-3(d)(1).
AI-generated analysis. How Rhea-AI works. Not financial advice.
