Smartbird director sells 48K shares at $2.31
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Smartbird, Inc. (BIRD) director Richard W. Boyce, through the Dick W. Boyce & Sandy W. Boyce Revocable Trust, converted 48,277 Class B shares into 48,277 Class A shares and sold those Class A shares on September 18, 2026 at a weighted average price of $2.31 per share, with individual trades between $2.27 and $2.44. After the conversion, the trust holds 5,589 Class B shares indirectly, over which Boyce shares voting and investment power, and no Rule 10b5-1 trading plan is reported.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
3 txns
Insider
BOYCE RICHARD W
Role
Director
Sold
48,277 shs ($112K)
Approx. gross sale proceeds
$112K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common F1, F3 | 48,277 | -- | -- |
| Conversion | Class A Common Stock F1, F3 | 48,277 | -- | -- |
| Sale | Class A Common Stock F1, F2, F3 | 48,277 | $2.31 | $112K |
Holdings After Transaction:
Class B Common — 5,589 contracts (Indirect, By Trust);
Class A Common Stock — 0 shares (Indirect, By Trust)
Footnotes (3)
- F1. Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. The Reporting Person converted Class B shares into Class A shares in connection with the sale of Class A shares disclosed in this report.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.27 to $2.44, inclusive. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
- F3. Shares are held of record by the Dick W. Boyce & Sandy W. Boyce Revocable Trust Agreement Dated December 30, 1994, of which the Reporting Person is co-trustee and shares voting and investment power over such shares.
Key Figures
Class B shares converted: 48,277 shares
Class A shares sold: 48,277 shares
Weighted average sale price: $2.31 per share
+2 more
5 metrics
Class B shares converted
48,277 shares
Class B Common converted into Class A on September 18, 2026
Class A shares sold
48,277 shares
Class A Common Stock sold on September 18, 2026
Weighted average sale price
$2.31 per share
Weighted average price for 48,277 Class A shares sold
Sale price range
$2.27–$2.44 per share
Individual trades for the September 18, 2026 sale
Class B shares held after transaction
5,589 shares
Indirectly owned by revocable trust after conversion
Key Terms
Class B Common Stock, Class A Common Stock, weighted average price, indirect ownership, +1 more
5 terms
Class B Common Stock financial
"Each share of Class B Common Stock is convertible at any time"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"converted Class B shares into Class A shares in connection with the sale"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
indirect ownership financial
"Shares are held of record by the ... Revocable Trust ... co-trustee"
Revocable Trust financial
"Shares are held of record by the ... Revocable Trust Agreement Dated"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did BIRD director Richard W. Boyce report?
Richard W. Boyce’s revocable trust converted 48,277 Class B Smartbird, Inc. shares into 48,277 Class A shares on September 18, 2026 and sold all of the resulting Class A shares the same day at a weighted average price of $2.31 per share.
What Smartbird (BIRD) holdings does Richard W. Boyce’s trust retain after this transaction?
Following the conversion of derivative securities, the Dick W. Boyce & Sandy W. Boyce Revocable Trust holds 5,589 shares of Class B Common stock of Smartbird, Inc. indirectly, with Richard W. Boyce sharing voting and investment power over these shares.
Was the September 18, 2026 BIRD insider sale made under a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is not marked, and no footnote states that the September 18, 2026 Smartbird, Inc. transactions were made pursuant to a Rule 10b5-1 trading plan or other pre-arranged trading arrangement.
How is Richard W. Boyce’s ownership in Smartbird (BIRD) characterized in this Form 4?
All reported Smartbird, Inc. positions are held indirectly through the Dick W. Boyce & Sandy W. Boyce Revocable Trust. The filing states that Boyce is a co-trustee and shares voting and investment power over the trust’s shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
