Director at Merlin, Inc. (MRLN) receives 37,500 RSUs as award

Rhea-AI Filing Summary

Smith Robert Hanson reported acquisition or exercise transactions in this Form 4 filing.

Merlin, Inc. reported that director Smith Robert Hanson received an equity award in the form of 37,500 shares of common stock on May 20, 2026. The award was granted at a price of $0.00 per share, reflecting compensation rather than a market purchase.

According to the footnote, this grant consists of 20,000 restricted stock units (RSUs) that vest in four equal installments every six months beginning on September 16, 2026, and an additional 17,500 RSUs that vest in full on the earlier of March 16, 2027 or one day before the company’s 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of common stock, and the RSUs do not expire. Following this award, Hanson directly holds 37,500 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Smith Robert Hanson

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common stock	37,500	$0.00	--

Holdings After Transaction: Common stock — 37,500 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSUs granted: 37,500 shares Grant price: $0.00 per share First RSU tranche: 20,000 RSUs +2 more

5 metrics

RSUs granted 37,500 shares Award of common stock RSUs on May 20, 2026

Grant price $0.00 per share Equity compensation, not market purchase

First RSU tranche 20,000 RSUs Vest in four equal installments every six months starting September 16, 2026

Second RSU tranche 17,500 RSUs Vest in full on March 16, 2027 or one day before 2027 annual meeting

Shares held after transaction 37,500 shares Total direct holdings following the award

Key Terms

restricted stock units (RSUs), vest, contingent right, annual meeting of shareholders

4 terms

restricted stock units (RSUs) financial

"Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

vest financial

"20,000 restricted stock units (RSUs), which vest in four equal installments every six months"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

contingent right financial

"Each RSU represents a contingent right to receive one share of Common Stock."

annual meeting of shareholders financial

"vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders."

A yearly gathering where a company’s owners (shareholders) vote on key items like electing the board, approving executive pay, and ratifying auditors, and receive updates on performance and strategy. Think of it as an annual town hall for owners: it matters to investors because outcomes and disclosures can affect leadership, corporate direction, dividend and governance policies, and therefore the company’s risk and potential return.

Form 4 Insider Transactions: What Each Field Means →

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^*

Smith Robert Hanson

(Last) (First) (Middle)

100 CAUSEWAY STREET

23RD FLOOR

(Street)

BOSTON MASSACHUSETTS 02114

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Merlin, Inc. [ MRLN ]

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)
05/20/2026

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
Common stock	05/20/2026		A		37,500	A	(1)	37,500	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. Represents an award of (i) 20,000 restricted stock units (RSUs), which vest in four equal installments every six months beginning on September 16, 2026, and (ii) 17,500 RSUs, which vest in full on the earlier to occur of (i) March 16, 2027, and (ii) one day prior to the date of the Issuers 2027 annual meeting of shareholders. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs do not expire.

Remarks:

	/s/ Leslie Renee Ravestein	05/22/2026
	** 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 Merlin, Inc. (MRLN) report for Smith Robert Hanson?

Merlin, Inc. reported an equity award to director Smith Robert Hanson of 37,500 shares of common stock as compensation. The grant was made at $0.00 per share and represents restricted stock units that will convert into shares as they vest over time.

How many RSUs did Merlin, Inc. (MRLN) grant to director Smith Robert Hanson?

Merlin, Inc. granted 37,500 RSUs to director Smith Robert Hanson. This includes 20,000 RSUs vesting in four semiannual installments and 17,500 RSUs vesting in full on a future date tied to the 2027 annual meeting of shareholders.

What are the vesting terms of Smith Robert Hanson’s RSU award at Merlin, Inc. (MRLN)?

Hanson’s RSUs vest in two tranches. 20,000 RSUs vest in four equal installments every six months starting September 16, 2026, while 17,500 RSUs vest fully on March 16, 2027 or one day before the 2027 annual shareholders’ meeting, whichever occurs first.

Does the RSU grant to Merlin, Inc. (MRLN) director involve any cash purchase?

No cash purchase is involved in this grant. The 37,500 RSUs were awarded at $0.00 per share as stock-based compensation, giving Hanson a contingent right to receive common shares as they vest rather than reflecting an open-market share purchase.

How many Merlin, Inc. (MRLN) shares does Smith Robert Hanson hold after this RSU award?

After the award, Hanson holds 37,500 shares of Merlin, Inc. common stock directly as reported. These shares correspond to the granted restricted stock units, which convert into actual shares as vesting conditions are satisfied under the award terms.