Cardinal Infrastructure (CDNL) grants director 3,101 RSUs at $24.18

Rhea-AI Filing Summary

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

Cardinal Infrastructure Group Inc. reported that director Lee Richard Melvin Jr. received a grant of 3,101 shares of Class A Common Stock as restricted stock units on May 7, 2026, at a reference price of $24.18 per share.

According to the award terms, 775 RSUs vested immediately, with 775 vesting on June 30, 2026, 775 on September 30, 2026, and 776 on December 31, 2026, subject to continued service. Following this grant, Melvin directly holds 25,826 shares, reflecting a routine compensation-related equity award rather than an open-market purchase.

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	3,101	$24.18	$75K

Holdings After Transaction: Class A Common Stock — 25,826 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSU grant size: 3,101 shares Grant reference price: $24.18 per share Holdings after grant: 25,826 shares +2 more

5 metrics

RSU grant size 3,101 shares Restricted stock units granted May 7, 2026

Grant reference price $24.18 per share Value used for RSU grant

Holdings after grant 25,826 shares Director’s direct Class A holdings post-transaction

Immediate vesting tranche 775 RSUs Vested upon award execution

Final vesting tranche 776 RSUs Scheduled to vest December 31, 2026

Key Terms

restricted stock units ("RSUs"), vest, Class A Common Stock, Grant, award, or other acquisition

4 terms

restricted stock units ("RSUs") financial

"These shares represent restricted stock units ("RSUs") granted on May 7, 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.

vest financial

"The RSUs vest as follows, subject to the Reporting Person's continued service through each applicable vesting date"

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.

Class A Common Stock financial

"security_title: "Class A Common Stock""

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.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

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)
05/07/2026

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	05/07/2026		A		3,101	A	$24.18(1)	25,826	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 May 7, 2026. The RSUs vest as follows, subject to the Reporting Person's continued service through each applicable vesting date: (i) 775 RSUs vested immediately upon execution of the award agreement; (ii) 775 RSUs will vest on June 30, 2026; (iii) 775 RSUs will vest on September 30, 2026; and (iv) 776 RSUs will vest on December 31, 2026.

	/s/ Tiffany Gidley, Attorney-in-Fact	05/11/2026
	** 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 reported a director equity grant of 3,101 restricted stock units. These RSUs represent Class A Common Stock awarded as compensation rather than shares bought in the open market, and they vest in stages through December 31, 2026, subject to continued service.

Who received the RSU grant at Cardinal Infrastructure Group (CDNL)?

Director Lee Richard Melvin Jr. received the 3,101 restricted stock units. The award is recorded as a grant or award acquisition, coded “A” on the Form 4, and increases his directly held position to 25,826 shares after the transaction, according to the filing data.

How do the 3,101 RSUs for CDNL vest over time?

The 3,101 RSUs vest in four installments tied to service. 775 RSUs vested immediately, 775 vest on June 30, 2026, another 775 on September 30, 2026, and the final 776 on December 31, 2026, assuming the director continues serving through each vesting date.

What was the reference price for the CDNL RSU grant?

The RSU grant was valued using a reference price of $24.18 per share. This price is used in the Form 4 to characterize the transaction value for the 3,101 Class A Common Stock RSUs awarded to director Lee Richard Melvin Jr. on May 7, 2026.

How many CDNL shares does the director hold after this RSU award?

After the RSU grant, director Lee Richard Melvin Jr. directly holds 25,826 shares of Class A Common Stock. This total includes the 3,101 shares underlying the newly granted restricted stock units described in the Form 4 insider transaction report.

Is the CDNL RSU grant an open-market insider stock purchase?

No, the CDNL transaction is a compensation grant, not an open-market purchase. It is coded “A” for grant, award, or other acquisition, reflecting restricted stock units that vest over time rather than shares bought on the market by the director.