Sphere 3D Corp. CEO and CFO Kurt L. Kalbfleisch reported routine equity compensation activity. On March 12, 2026, he exercised 18,358 Restricted Stock Units (RSUs), receiving the same number of common shares at a conversion price of $0.00 per share, increasing his direct common holdings to 74,255 shares. On March 13, 2026, he sold 9,800 common shares at $1.59 per share; a footnote explains this sale was made to satisfy the company’s tax withholding obligations related to the RSU vesting, indicating it was not a discretionary open‑market liquidation. After these transactions, he directly held 64,455 common shares and 229,297 RSUs with scheduled vesting through 2027. The filing also notes small indirect holdings of 215 common shares each held by his daughter and son.
Morgan Stanley Smith Barney LLC Executive Financial Services registered 9,800 shares of Common Stock for sale on 03/13/2026. The filing states the shares arise from restricted stock vesting under a registered plan and lists the securities as traded on NASDAQ.
Sphere 3D Corp. has agreed to acquire Cathedra Bitcoin Inc. in an all‑stock transaction that will make Cathedra a wholly owned subsidiary. Cathedra subordinate voting shareholders will receive 0.123014 Sphere common shares per share, while multiple voting shares receive 12.3014 Sphere common shares, with certain large holders instead receiving non‑voting preferred shares subject to a 7% post‑closing ownership cap.
Upon completion, Cathedra security holders are expected to own about 49% of Sphere on a partially diluted basis. The combined company plans to operate 53 megawatts of power capacity across five U.S. data centers and approximately 1.2 EH/s of proprietary bitcoin mining hash rate, and to explore high‑performance computing and AI infrastructure opportunities.
The board and leadership will be reshaped, with Cathedra CEO Joel Block becoming CEO of the combined company and Sphere’s Kurt Kalbfleisch remaining as CFO. Kalbfleisch’s compensation package is amended to reduce base salary and bonus percentages, while adding closing‑dependent and performance‑linked cash bonuses. The deal requires shareholder, court and regulatory approvals and includes reciprocal $500,000 termination fees in certain circumstances.
Hanley Timothy P. reported acquisition or exercise transactions in this Form 4 filing.
Sphere 3D Corp. director Timothy P. Hanley reported receiving a grant of 74,074 restricted stock units (RSUs) on March 4, 2026. Each RSU represents a contingent right to receive one share of Sphere 3D common stock at no purchase price.
After this award, Hanley directly holds 86,704 RSUs in total. This includes 12,630 RSUs that are scheduled to vest in full on May 29, 2026. The previously granted RSUs have been adjusted to reflect Sphere 3D’s 1-for-10 reverse stock split that became effective on February 9, 2026.
Sphere 3D Corp. director Duncan J. McEwan received a grant of 74,074 restricted stock units (RSUs). The award was recorded on the insider report as an acquisition with no cash price per unit. Each RSU represents a contingent right to receive one share of Sphere 3D common stock.
Harnett Sue reported acquisition or exercise transactions in this Form 4 filing.
Sphere 3D Corp. director Sue Harnett received a new equity award in the form of restricted stock units. On March 4, 2026, she was granted 74,074 RSUs, each representing a contingent right to receive one share of Sphere 3D common stock. After this award, she directly holds 86,704 RSUs, which also include a prior RSU grant for 12,630 shares that vests in full on May 29, 2026. The earlier RSU grant has been adjusted to reflect the company’s 1-for-10 reverse stock split effective February 9, 2026.
Sphere 3D Corp. reported full-year 2025 results showing weaker financial performance while highlighting operational upgrades and a planned merger with Cathedra Bitcoin. Bitcoin mining revenue was $11.2 million, down from $16.6 million in 2024, reflecting the April 2024 halving and fleet transitions.
Total operating costs and expenses fell to $33.2 million from $38.0 million, driven in part by a roughly 33% reduction in general and administrative expenses to $8.3 million. Even so, the company recorded a larger net loss of $21.5 million, compared with a $9.5 million loss in 2024, as investment gains and other income declined sharply.
The company mined 111.6 Bitcoin during 2025 and held 37.3 Bitcoin as of December 31, 2025. Sphere 3D upgraded its fleet to about 2,300 newer-generation miners, improving average efficiency from 27.1 J/th to below 19.0 J/th, and fully energized a new 8MW Iowa facility to lower operating costs.
Kalbfleisch Kurt L. reported acquisition or exercise transactions in this Form 4 filing.
Sphere 3D Corp. reported that CEO and CFO Kurt L. Kalbfleisch received a grant of 150,000 Restricted Stock Units (RSUs) on March 4, 2026. Each RSU represents a contingent right to receive one share of Sphere 3D common stock.
After this award, Kalbfleisch holds 247,655 RSUs, which include three earlier grants with specified vesting schedules: 2,343 shares with remaining vesting on March 31, 2026; 39,062 shares vesting quarterly until December 31, 2026; and 56,250 shares vesting quarterly until June 1, 2027.
The RSU amounts have been adjusted to reflect Sphere 3D’s 1-for-10 reverse stock split that became effective on February 9, 2026.
Reppas Tiah Norton reported acquisition or exercise transactions in this Form 4 filing.
Sphere 3D Corp. reported that its Chief Accounting Officer, Tiah Norton Reppas, received a grant of 50,000 Restricted Stock Units (RSUs) on March 4, 2026. Each RSU represents a contingent right to receive one share of Sphere 3D common stock.
After this award, the officer directly holds 106,250 RSUs, reflecting this and prior grants. Footnote disclosure explains that earlier RSU awards totaling 6,250 and 50,000 underlying shares vest in quarterly installments into 2027 and were adjusted for a 1-for-10 reverse stock split effective February 9, 2026.
Sphere 3D Corp. reported that it has regained compliance with Nasdaq’s minimum bid-price requirement for continued listing on the Nasdaq Capital Market. The rule requires the company’s common shares to maintain a minimum bid price of $1.00 per share under Nasdaq Listing Rule 5550(a)(2).
Nasdaq notified Sphere 3D on February 26, 2026 that the company now meets this standard and that the prior listing deficiency matter is closed. This removes an overhang related to potential delisting risk from the exchange.