COO Wood Benjamin buys 20,000 Cardinal Infrastructure (CDNL) shares

Rhea-AI Filing Summary

Cardinal Infrastructure Group Inc. chief operating officer Wood Benjamin reported a series of open-market purchases of the company’s Class A Common Stock. On May 27, 2026, he bought a total of 20,000 shares across five transactions, with individual blocks of 100, 3,600, 4,206, 5,355 and 6,739 shares.

The reported transaction prices ranged from $49.32 to $54.33 per share, including weighted-average prices in narrower ranges noted in the footnotes. All transactions were coded as open-market purchases, indicating direct ownership of the acquired shares.

Insights

Equity analyst

COO made a sizable open-market share purchase, a generally constructive but single data point.

Wood Benjamin, the chief operating officer of Cardinal Infrastructure Group Inc., executed five open-market purchases totaling 20,000 shares of Class A Common Stock on May 27, 2026. Prices ranged from $49.32 to $54.33 per share.

These are straightforward open-market purchases (code P), not option exercises or tax withholdings, and they increase his direct equity stake. The filing does not show the company’s total shares outstanding, so the relative size of this purchase versus the overall float cannot be assessed from this data alone.

The footnotes explain that several prices are weighted averages for multiple trades within disclosed ranges, a common practice for larger orders executed in smaller pieces. Subsequent filings and company disclosures may provide broader context for how this insider buying fits within overall ownership trends.

Insider Trade Summary

Net Buyer: 20,000 shares ($1,025,900)

Net Buy 5 txns

Insider Wood Benjamin

Role CHIEF OPERATING OFFICER

Bought 20,000 shs ($1.03M)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	6,739	$49.89	$336K
Purchase	Class A Common Stock	5,355	$50.78	$272K
Purchase	Class A Common Stock	4,206	$51.90	$218K
Purchase	Class A Common Stock	3,600	$53.90	$194K
Purchase	Class A Common Stock	100	$54.33	$5K

Holdings After Transaction: Class A Common Stock — 6,739 shares (Direct, null)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $49.32 to $50.31, 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. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $50.36 to $51.35, 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 (2) of this Form 4. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $51.42 to $52.37, 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 (3) of this Form 4. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $53.31 to $54.30, 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 (4) of this Form 4.

Key Figures

Total shares purchased: 20,000 shares Smallest trade size: 100 shares Largest trade size: 6,739 shares +3 more

6 metrics

Total shares purchased 20,000 shares Open-market buys on May 27, 2026

Smallest trade size 100 shares Individual open-market purchase block

Largest trade size 6,739 shares Individual open-market purchase block

Highest reported price $54.33 per share Single open-market purchase price

Lowest range price $49.32 per share Lower end of weighted-average price range in footnote

Highest range price $54.30 per share Upper end of weighted-average price range in footnote

Key Terms

Class A Common Stock, open-market purchase, weighted average price, Securities and Exchange Commission

4 terms

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.

open-market purchase financial

"transaction_action: "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

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.

Securities and Exchange Commission regulatory

"staff of the Securities and Exchange Commission, upon request"

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

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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^*

Wood Benjamin

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF OPERATING OFFICER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026

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	05/27/2026		P		6,739	A	$49.89(1)	6,739	D
Class A Common Stock	05/27/2026		P		5,355	A	$50.78(2)	12,094	D
Class A Common Stock	05/27/2026		P		4,206	A	$51.9(3)	16,300	D
Class A Common Stock	05/27/2026		P		3,600	A	$53.9(4)	19,900	D
Class A Common Stock	05/27/2026		P		100	A	$54.33	20,000	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 $49.32 to $50.31, 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.

2. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $50.36 to $51.35, 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 (2) of this Form 4.

3. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $51.42 to $52.37, 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 (3) of this Form 4.

4. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $53.31 to $54.30, 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 (4) of this Form 4.

	/s/ Tiffany Gidley, Attorney-in-Fact	05/29/2026
	** 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

How many CDNL shares did COO Wood Benjamin buy in this Form 4?

Wood Benjamin purchased a total of 20,000 shares of Cardinal Infrastructure Group Inc. Class A Common Stock. The buys occurred in five separate open-market transactions reported for May 27, 2026, increasing his direct ownership position in the company.

At what prices did the CDNL COO purchase Cardinal Infrastructure Group stock?

The COO’s reported purchase prices ranged from $49.32 to $54.33 per share. Several entries use weighted-average prices, with detailed price ranges from $49.32–$54.30 disclosed in the footnotes to the Form 4 filing.

Were the CDNL insider transactions by Wood Benjamin open-market purchases?

Yes. Each transaction in the filing is coded “P,” described as an open-market or private purchase. That means the COO used personal capital to buy Cardinal Infrastructure Group Inc. Class A Common Stock rather than receiving shares through options or compensation.

Does this CDNL Form 4 show any insider sales or only purchases?

The Form 4 shows only purchases, with no reported sales. The transaction summary lists five buy transactions totaling 20,000 shares and zero sell, gift, or tax-withholding dispositions, indicating a net-buy position for the reporting period.

What role does insider Wood Benjamin hold at Cardinal Infrastructure Group (CDNL)?

Wood Benjamin is reported as the Chief Operating Officer of Cardinal Infrastructure Group Inc. In this capacity, his open-market purchases of Class A Common Stock can be of interest to investors tracking insider alignment with shareholder value.

How are the weighted-average prices in the CDNL Form 4 explained?

Footnotes state some reported prices are weighted averages of multiple trades within price ranges such as $49.32–$50.31. The insider undertakes to provide exact trade-by-trade prices and share amounts within those ranges upon request to investors or regulators.