Smartbird director sells 48K shares at $2.31

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)

1. 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.
2. 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.
3. 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.

How many Smartbird (BIRD) shares did the Boyce trust sell and at what price?

The trust sold 48,277 Class A Common Stock shares of Smartbird, Inc. on September 18, 2026 at a weighted average price of $2.31 per share, with individual sale prices ranging from $2.27 to $2.44 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.

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Available on EDGAR 09/22/2026 - 04:05 PM Accepted by SEC EDGAR 09/22/2026 - 04:04 PM Learn about SEC filing dates

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^*

BOYCE RICHARD W

(Last) (First) (Middle)

301 COMMERCE STREET

SUITE 3300

(Street)

FORT WORTH TEXAS 76102

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Smartbird, Inc. [ BIRD ]

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)
09/18/2026

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
Class A Common Stock	09/18/2026		C		48,277	A	(1)	48,277	I	By Trust(3)
Class A Common Stock	09/18/2026		S(1)		48,277	D	$2.31(2)	0	I	By Trust(3)

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
Class B Common	(1)	09/18/2026		C			48,277	(1)	(1)	Class A Common	48,277	(1)	5,589	I	By Trust(3)

Explanation of Responses:

1. 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.

2. 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.

3. 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.

	/s/ Ann Mitchell	09/21/2026
	** 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)