Sphere 3D CEO to buy 166K shares plus warrants
Sphere 3D Corp. (ANY) reported that Chief Executive Officer and director Joel M. Block agreed on September 8, 2026 to acquire 166,666 Common Shares and 166,666 Warrants of the company in a private placement exempt from Section 16(b) under Rule 16b-3(d)(1).
Rhea-AI Filing Summary
Sphere 3D Corp. (ANY) reported that Chief Executive Officer and director Joel M. Block agreed on September 8, 2026 to acquire 166,666 Common Shares and 166,666 Warrants of the company in a private placement exempt from Section 16(b) under Rule 16b-3(d)(1). The private placement is expected to close on September 11, 2026, at a price of $3.00 per Common Share and accompanying Warrant, with each Warrant exercisable at $3.50 per Common Share until September 11, 2031.
After this award, Block holds 1,029,476 Common Shares directly, which the company states includes unvested restricted stock units.
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Negative
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Insights
Analyzing...
Insider Trade Summary
Grant/Award: 333,332 shares
Grant/Award
2 txns
Insider
Block Joel M
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Warrants F1, F2 | 166,666 | -- | -- |
| Grant/Award | Common Shares F1, F2, F3 | 166,666 | $3.00 | $500K |
Holdings After Transaction:
Warrants — 166,666 contracts (Direct);
Common Shares — 1,029,476 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: 166,666 shares
Warrants acquired: 166,666 warrants
Purchase price per Common Share and accompanying Warrant: $3.00
+3 more
6 metrics
Common Shares acquired
166,666 shares
Common Shares agreed to be purchased by CEO Joel M. Block on September 8, 2026 in the private placement
Warrants acquired
166,666 warrants
Warrants to purchase Common Shares agreed to be acquired by the CEO on September 8, 2026
Purchase price per Common Share and accompanying Warrant
$3.00
Price paid by the CEO for each Common Share and accompanying Warrant in the private placement
Warrant exercise price
$3.50 per share
Exercise price for each Common Share underlying the warrants acquired by the CEO
CEO holdings after transaction
1,029,476 shares
Total Common Shares directly held by Joel M. Block after the reported acquisition, including unvested RSUs
Warrant expiration date
September 11, 2031
Expiration date of the warrants acquired in the private placement
Key Terms
securities purchase agreement, private placement, Rule 16b-3(d)(1), restricted stock units
4 terms
securities purchase agreement financial
"the reporting person 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 are the terms of the warrants acquired by the Sphere 3D (ANY) CEO?
The warrants allow Joel M. Block to buy up to 166,666 Common Shares at an exercise price of $3.50 per share, exercisable starting September 11, 2026 and expiring on September 11, 2031.
Was the Sphere 3D (ANY) CEO’s private placement transaction under a Rule 10b5-1 plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not marked as affirmative, and the footnotes describe the transaction as a securities purchase agreement private placement, rather than as part of a Rule 10b5-1 trading plan.
How is the Sphere 3D (ANY) CEO’s private placement treated under Section 16(b)?
The company states the private placement is exempt from Section 16(b) in accordance with Rule 16b-3(d)(1) under the Securities Exchange Act of 1934.
AI-generated analysis. How Rhea-AI works. Not financial advice.
