Ascent Solar director converts preferred to common
Ascent Solar Technologies director Forrest T. Reynolds converted Series 1C convertible preferred stock into common shares.
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Form Type
4
Rhea-AI Filing Summary
Ascent Solar Technologies director Forrest T. Reynolds converted Series 1C convertible preferred stock into common shares. On 5/22/2026, he converted 61 Series 1C preferred shares (including accrued dividends) at a conversion price of $2.50 per share into 28,343 shares of common stock, bringing his direct common stock holdings to 28,655 shares.
Insider Trade Summary
61 shares exercised/converted
Exercise
2 txns
Insider
Forrest Reynolds T.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series 1C Convertible Preferred Stock | 61 | $0.00 | $0.00 |
| Conversion | Common Stock | 28,343 | $2.50 | $71K |
Holdings After Transaction:
Series 1C Convertible Preferred Stock — 0 contracts (Direct);
Common Stock — 28,655 shares (Direct)
Footnotes (4)
- F1. On October 17, 2024, the Reporting Person entered into a securities purchase agreement to purchase up to 965 shares of the Company's newly issued Series 1C convertible preferred stock at a purchase price of $1,000 per Series 1C preferred share. The parties only closed on the purchase of 150 Series 1C preferred shares. The stated value and accrued dividends on Series 1C preferred shares is convertible into common stock beginning on 4/18/2025 at a conversion price of $2.50 per common share.
- F2. The Series 1C preferred stock is perpetual and therefore has no expiration date.
- F3. Each Series 1C share has a Stated Value of $1,000. The Stated Value (and accrued dividends thereon) are convertible into shares of common stock based at the conversion price of $2.50 per common share.
- F4. On 5/22/2026, the Reporting Person converted 61 shares of Series 1C preferred stock (including accrued dividends thereon) into an aggregate 28,343 shares of common stock.
Key Figures
Preferred shares converted: 61 Series 1C shares
Common shares received: 28,343 shares
Common holdings after transaction: 28,655 shares
+5 more
8 metrics
Preferred shares converted
61 Series 1C shares
Converted on May 22, 2026
Common shares received
28,343 shares
From conversion of Series 1C preferred
Common holdings after transaction
28,655 shares
Direct ownership following conversion
Conversion price
<money>$2.50</money> per common share
Series 1C preferred to common
Series 1C stated value
<money>$1,000</money> per share
Basis for conversion plus accrued dividends
SPA maximum Series 1C purchase
965 shares
Agreed in October 17, 2024 securities purchase agreement
Series 1C shares actually purchased
150 shares
Closed under the purchase agreement
Derivative exercises in filing
1 conversion, 61 shares
ExerciseCount and exerciseShares from summary
Key Terms
Series 1C convertible preferred stock, securities purchase agreement, Stated Value, conversion price, +1 more
5 terms
Series 1C convertible preferred stock financial
"61 shares of Series 1C preferred stock (including accrued dividends thereon) into an aggregate 28,343 shares"
securities purchase agreement financial
"entered into a securities purchase agreement to purchase up to 965 shares"
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.
Stated Value financial
"Each Series 1C share has a Stated Value of $1,000."
Stated value is an accounting figure a company assigns to a share when the share has no par (legal) value; it becomes the portion of proceeds recorded as the company’s permanent capital for regulatory and bookkeeping purposes. It matters to investors because it affects the equity reported on the balance sheet and the legal limits on distributions or dividend payments, but it is not the market price — think of it as a record-keeping sticker price rather than what buyers actually pay.
conversion price financial
"convertible into common stock beginning on 4/18/2025 at a conversion price of $2.50 per common share."
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
perpetual financial
"The Series 1C preferred stock is perpetual and therefore has no expiration date."
Perpetual describes a financial instrument or obligation that has no fixed end date and can continue indefinitely unless the issuer chooses to end it. For investors, that means there is no scheduled return of principal, so value depends on ongoing payments, issuer stability and market interest rates—similar to receiving rent from a property with no set sale date. Perpetual instruments often pay higher yields to compensate for that open-ended risk.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Ascent Solar (ASTI) report for Forrest T. Reynolds?
Ascent Solar reported that director Forrest T. Reynolds converted 61 Series 1C convertible preferred shares into 28,343 common shares. This was a derivative conversion, not an open-market purchase or sale, increasing his directly held common stock position.
What are the key terms of Ascent Solar’s Series 1C convertible preferred stock?
Each Series 1C preferred share has a Stated Value of $1,000 and is convertible, with accrued dividends, into common stock at a conversion price of $2.50 per common share. The Series 1C preferred stock is perpetual with no expiration date.
Was the 2026 Ascent Solar (ASTI) insider transaction an open-market trade?
No. The May 22, 2026 transaction was a conversion of 61 Series 1C preferred shares into 28,343 common shares. It is classified as a derivative conversion, not a market buy or sell of common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
