Director Ivy buys more Cardinal Infrastructure (CDNL) shares in market

Rhea-AI Filing Summary

Cardinal Infrastructure Group Inc. director Zelman Ivy reported an open-market purchase of 6,921 shares of Class A Common Stock. The weighted average purchase price was $36.33 per share, with individual trades executed between $36.09 and $36.47. Following this transaction, Ivy directly holds 15,326 shares.

Insider Trade Summary

Net Buyer: 6,921 shares ($251,440)

Net Buy 1 txn

Insider Zelman Ivy

Role Director

Bought 6,921 shs ($251K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	6,921	$36.33	$251K

Holdings After Transaction: Class A Common Stock — 15,326 shares (Direct)

Footnotes (1)

1. [object Object]

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^*

Zelman Ivy

(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)
03/26/2026

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	03/26/2026		P		6,921	A	$36.33(1)	15,326	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. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $36.09 to $36.47, inclusive. The reporting person hereby undertakes to provide to Cardinal Infrastructure Group Inc., any security holder of Cardinal Infrastructure Group Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) of this Form 4.

	/s/ Tiffany Gidley, Attorney-in-Fact	03/27/2026
	** 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?

Cardinal Infrastructure Group director Zelman Ivy reported buying 6,921 Class A Common Stock shares. The transaction was an open-market purchase, indicating he increased his direct ownership stake in the company to 15,326 shares after the trade was completed.

At what price did Zelman Ivy buy CDNL shares in this Form 4?

Zelman Ivy’s reported purchase used a weighted average price of $36.33 per share. The actual trades occurred in multiple lots, with individual prices ranging from $36.09 to $36.47, as disclosed in the Form 4 footnote for this transaction.

How many Cardinal Infrastructure (CDNL) shares does Zelman Ivy own after the transaction?

After the reported open-market purchase, Zelman Ivy directly owns 15,326 shares of Cardinal Infrastructure Group Class A Common Stock. This figure reflects his position immediately following the 6,921-share acquisition disclosed in the Form 4 insider trading report.

Was the CDNL insider transaction a buy or a sell?

The reported transaction was a buy. Director Zelman Ivy executed an open-market purchase of 6,921 shares of Cardinal Infrastructure Group Class A Common Stock, increasing his direct holdings rather than selling or disposing of any shares in this filing.

Did Zelman Ivy’s CDNL share purchase occur in a single trade?

No, the purchase was executed in multiple trades. The Form 4 states the reported price is a weighted average, with individual trades priced between $36.09 and $36.47, and offers to provide detailed trade-level pricing information upon request.