Director at Cardinal Infrastructure Group (CDNL) receives 1,941-share RSU grant

Rhea-AI Filing Summary

Lee Richard Melvin Jr. reported acquisition or exercise transactions in this Form 4 filing.

Cardinal Infrastructure Group Inc. director Lee Richard Melvin Jr. received a grant of 1,941 shares of Class A Common Stock in the form of restricted stock units on June 5, 2026 as compensation. These RSUs vest at the earlier of the next annual stockholder meeting (subject to the 50-week condition) or the one-year anniversary of the grant, if he continues serving as a director. Following this award, he beneficially owns 34,254 shares. A footnote also corrects a prior Form 4, stating his holdings after the earlier reported transaction should have been 32,313 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Lee Richard Melvin Jr.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	1,941	$0.00	--

Holdings After Transaction: Class A Common Stock — 34,254 shares (Direct, null)

Footnotes (1)

1. These shares represent restricted stock units ("RSUs") granted on June 5, 2026. The RSUs vest on the earlier to occur of (1) the next annual meeting of the Company's stockholders following the date of grant (so long as such next annual meeting is at least 50 weeks after the immediately preceding year's annual meeting of stockholders) and (2) the one-year anniversary of the date of grant, provided that, in each case, the Reporting Person continues to serve as a director of the Company through such date. The Form 4 filed by the Reporting Person on May 11, 2026 incorrectly reported the Amount of Securities Beneficially Owned following Reported Transaction in Column 5 of Table I. The correct number should have been 32,313.

Key Figures

RSU grant size: 1,941 shares Shares after transaction: 34,254 shares Corrected prior holdings: 32,313 shares +2 more

5 metrics

RSU grant size 1,941 shares Restricted stock units granted on June 5, 2026

Shares after transaction 34,254 shares Beneficially owned following June 5, 2026 grant

Corrected prior holdings 32,313 shares Correct amount after transaction in May 11, 2026 Form 4

Grant date June 5, 2026 Date RSUs were granted to director

Vesting term Earlier of next annual meeting or one-year anniversary RSU vesting condition tied to continued board service

Key Terms

restricted stock units ("RSUs"), beneficially owned, annual meeting of the Company's stockholders, Column 5 of Table I

4 terms

restricted stock units ("RSUs") financial

"These shares represent restricted stock units ("RSUs") granted on June 5, 2026."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

beneficially owned financial

"incorrectly reported the Amount of Securities Beneficially Owned following Reported Transaction"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

annual meeting of the Company's stockholders financial

"the next annual meeting of the Company's stockholders following the date of grant"

Column 5 of Table I regulatory

"incorrectly reported the Amount of Securities Beneficially Owned following Reported Transaction in Column 5 of Table I."

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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^*

Lee Richard Melvin Jr.

(Last) (First) (Middle)

C/O CARDINAL INFRASTRUCTURE GROUP INC.

100 E. SIX FORKS ROAD, #300

(Street)

RALEIGH NORTH CAROLINA 27609

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Cardinal Infrastructure Group Inc. [ CDNL ]

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)
06/05/2026

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	06/05/2026		A		1,941	A	$0(1)	34,254(2)	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. These shares represent restricted stock units ("RSUs") granted on June 5, 2026. The RSUs vest on the earlier to occur of (1) the next annual meeting of the Company's stockholders following the date of grant (so long as such next annual meeting is at least 50 weeks after the immediately preceding year's annual meeting of stockholders) and (2) the one-year anniversary of the date of grant, provided that, in each case, the Reporting Person continues to serve as a director of the Company through such date.

2. The Form 4 filed by the Reporting Person on May 11, 2026 incorrectly reported the Amount of Securities Beneficially Owned following Reported Transaction in Column 5 of Table I. The correct number should have been 32,313.

	/s/ Tiffany Gidley, Attorney-in-Fact	06/09/2026
	** 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 Cardinal Infrastructure Group (CDNL) report for Lee Richard Melvin Jr.?

Cardinal Infrastructure Group reported that director Lee Richard Melvin Jr. received a grant of 1,941 restricted stock units on June 5, 2026. The award is a stock-based compensation grant, not an open-market purchase, and increases his beneficial holdings in the company.

How many Cardinal Infrastructure Group (CDNL) shares does Lee Richard Melvin Jr. hold after this Form 4?

After the June 5, 2026 restricted stock unit grant, Lee Richard Melvin Jr. beneficially owns 34,254 shares of Cardinal Infrastructure Group Class A Common Stock. A footnote also clarifies that a prior Form 4 should have shown 32,313 shares following the earlier reported transaction.

When do the new RSUs granted to Cardinal Infrastructure Group (CDNL) director vest?

The 1,941 restricted stock units vest on the earlier of the next annual stockholders’ meeting or the one-year anniversary of the June 5, 2026 grant. In both cases, vesting requires that Lee Richard Melvin Jr. continue serving as a director through the applicable vesting date.

Was the Cardinal Infrastructure Group (CDNL) Form 4 correcting any previous ownership figure?

Yes. A footnote explains that an earlier Form 4 filed on May 11, 2026 misstated the shares beneficially owned after that transaction. The correct number following the prior event should have been 32,313 shares of Cardinal Infrastructure Group Class A Common Stock.

Is the Cardinal Infrastructure Group (CDNL) Form 4 an open-market buy or a compensation grant?

The Form 4 reflects a compensation-related grant, not an open-market buy. Lee Richard Melvin Jr. received 1,941 restricted stock units at no cash price as a director award, which vest over time rather than being purchased in the market.