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[Form 4] Celsius Holdings, Inc. Insider Trading Activity

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Rhea-AI Filing Summary

William H. Milmoe, a 10% owner of Celsius Holdings (CELH), reported the settlement of three tranches of a Variable Prepaid Forward Sale Contract (VPF) originally entered on August 1, 2022. The transactions occurred between June 23-25, 2025.

Key transaction details:

  • Disposed of 900,000 total shares (300,000 shares per day) at $40.1588 per share
  • Transactions executed through GRAT 1, LLC, where Milmoe serves as one of two personal representatives of the Estate of Carl DeSantis
  • Each tranche involved full physical settlement with the unaffiliated third-party buyer
  • Settlement terms were based on volume-weighted average price between Floor Price ($30.1191) and Cap Price ($40.1588)

Following these transactions, GRAT 1's beneficial ownership decreased from 9,900,000 to 9,000,000 shares. The settlement price exceeded the Cap Price on all three transaction dates, resulting in maximum payout under the VPF terms.

William H. Milmoe, proprietario del 10% di Celsius Holdings (CELH), ha comunicato la liquidazione di tre tranche di un Contratto di Vendita Anticipata Variabile (VPF) stipulato originariamente il 1° agosto 2022. Le operazioni si sono svolte tra il 23 e il 25 giugno 2025.

Dettagli principali della transazione:

  • Vendita di 900.000 azioni totali (300.000 azioni al giorno) a 40,1588 $ per azione
  • Operazioni eseguite tramite GRAT 1, LLC, dove Milmoe è uno dei due rappresentanti personali dell’Eredità di Carl DeSantis
  • Ogni tranche ha previsto una liquidazione fisica completa con l’acquirente terzo non affiliato
  • I termini di liquidazione si basavano sul prezzo medio ponderato per volume compreso tra il Prezzo Minimo (30,1191 $) e il Prezzo Massimo (40,1588 $)

Dopo queste operazioni, la proprietà beneficiaria di GRAT 1 è diminuita da 9.900.000 a 9.000.000 azioni. Il prezzo di liquidazione ha superato il Prezzo Massimo in tutte e tre le date di transazione, determinando il pagamento massimo previsto dai termini del VPF.

William H. Milmoe, propietario del 10% de Celsius Holdings (CELH), informó la liquidación de tres tramos de un Contrato de Venta Anticipada Variable (VPF) originalmente firmado el 1 de agosto de 2022. Las transacciones tuvieron lugar entre el 23 y el 25 de junio de 2025.

Detalles clave de la transacción:

  • Disposición de 900,000 acciones totales (300,000 acciones por día) a $40.1588 por acción
  • Transacciones realizadas a través de GRAT 1, LLC, donde Milmoe actúa como uno de los dos representantes personales del Patrimonio de Carl DeSantis
  • Cada tramo implicó liquidación física completa con el comprador externo no afiliado
  • Los términos de liquidación se basaron en el precio promedio ponderado por volumen entre el Precio Mínimo ($30.1191) y el Precio Máximo ($40.1588)

Tras estas transacciones, la propiedad beneficiaria de GRAT 1 disminuyó de 9,900,000 a 9,000,000 acciones. El precio de liquidación superó el Precio Máximo en las tres fechas de transacción, resultando en el pago máximo bajo los términos del VPF.

윌리엄 H. 밀모에, 셀시어스 홀딩스(CELH)의 10% 소유주는 2022년 8월 1일에 체결된 가변 선불 선도 매도 계약(VPF)의 세 차례 분할 정산을 보고했습니다. 거래는 2025년 6월 23일부터 25일까지 이루어졌습니다.

주요 거래 내용:

  • 총 900,000주 (하루에 300,000주씩)를 주당 $40.1588에 처분
  • 밀모에는 칼 드산티스 유산의 개인 대표 두 명 중 한 명으로서 GRAT 1, LLC를 통해 거래를 실행
  • 각 분할 거래는 비계열 제3자 구매자와의 완전 실물 정산으로 진행
  • 정산 조건은 최저 가격($30.1191)과 상한 가격($40.1588) 사이의 거래량 가중 평균 가격을 기준으로 함

이 거래들 이후 GRAT 1의 실질 소유 지분은 9,900,000주에서 9,000,000주로 감소했습니다. 정산 가격은 세 거래일 모두 상한 가격을 초과하여 VPF 조건에 따른 최대 지급이 이루어졌습니다.

William H. Milmoe, détenteur de 10 % de Celsius Holdings (CELH), a annoncé le règlement de trois tranches d’un contrat de vente à terme prépayé variable (VPF) conclu initialement le 1er août 2022. Les opérations ont eu lieu entre le 23 et le 25 juin 2025.

Détails clés de la transaction :

  • Disposition de 900 000 actions au total (300 000 actions par jour) au prix de 40,1588 $ par action
  • Transactions exécutées via GRAT 1, LLC, où Milmoe est l’un des deux représentants personnels de la succession de Carl DeSantis
  • Chaque tranche a impliqué un règlement physique complet avec l’acheteur tiers non affilié
  • Les conditions de règlement étaient basées sur le prix moyen pondéré en fonction du volume entre le prix plancher (30,1191 $) et le prix plafond (40,1588 $)

À la suite de ces transactions, la propriété bénéficiaire de GRAT 1 est passée de 9 900 000 à 9 000 000 actions. Le prix de règlement a dépassé le prix plafond lors des trois dates de transaction, entraînant un paiement maximal selon les termes du VPF.

William H. Milmoe, Inhaber von 10% an Celsius Holdings (CELH), meldete die Abwicklung von drei Tranchen eines variablen vorausbezahlten Terminkaufvertrags (VPF), der ursprünglich am 1. August 2022 abgeschlossen wurde. Die Transaktionen fanden zwischen dem 23. und 25. Juni 2025 statt.

Wichtige Transaktionsdetails:

  • Veräußerung von insgesamt 900.000 Aktien (300.000 Aktien pro Tag) zu 40,1588 $ pro Aktie
  • Transaktionen wurden über GRAT 1, LLC ausgeführt, wo Milmoe einer von zwei persönlichen Nachlassvertretern des Nachlasses von Carl DeSantis ist
  • Jede Tranche wurde vollständig physisch mit dem nicht verbundenen Dritten abgewickelt
  • Die Abwicklungsbedingungen basierten auf dem volumengewichteten Durchschnittspreis zwischen dem Mindestpreis (30,1191 $) und dem Höchstpreis (40,1588 $)

Nach diesen Transaktionen sank der wirtschaftliche Eigentumsanteil von GRAT 1 von 9.900.000 auf 9.000.000 Aktien. Der Abrechnungspreis überstieg an allen drei Transaktionsdaten den Höchstpreis, was zu einer maximalen Auszahlung gemäß den VPF-Bedingungen führte.

Positive
  • None.
Negative
  • 10% owner William H. Milmoe (through GRAT 1, LLC) disposed of 900,000 shares total through three tranches of a variable prepaid forward sale at $40.16 per share, representing approximately $36.1M in total value

William H. Milmoe, proprietario del 10% di Celsius Holdings (CELH), ha comunicato la liquidazione di tre tranche di un Contratto di Vendita Anticipata Variabile (VPF) stipulato originariamente il 1° agosto 2022. Le operazioni si sono svolte tra il 23 e il 25 giugno 2025.

Dettagli principali della transazione:

  • Vendita di 900.000 azioni totali (300.000 azioni al giorno) a 40,1588 $ per azione
  • Operazioni eseguite tramite GRAT 1, LLC, dove Milmoe è uno dei due rappresentanti personali dell’Eredità di Carl DeSantis
  • Ogni tranche ha previsto una liquidazione fisica completa con l’acquirente terzo non affiliato
  • I termini di liquidazione si basavano sul prezzo medio ponderato per volume compreso tra il Prezzo Minimo (30,1191 $) e il Prezzo Massimo (40,1588 $)

Dopo queste operazioni, la proprietà beneficiaria di GRAT 1 è diminuita da 9.900.000 a 9.000.000 azioni. Il prezzo di liquidazione ha superato il Prezzo Massimo in tutte e tre le date di transazione, determinando il pagamento massimo previsto dai termini del VPF.

William H. Milmoe, propietario del 10% de Celsius Holdings (CELH), informó la liquidación de tres tramos de un Contrato de Venta Anticipada Variable (VPF) originalmente firmado el 1 de agosto de 2022. Las transacciones tuvieron lugar entre el 23 y el 25 de junio de 2025.

Detalles clave de la transacción:

  • Disposición de 900,000 acciones totales (300,000 acciones por día) a $40.1588 por acción
  • Transacciones realizadas a través de GRAT 1, LLC, donde Milmoe actúa como uno de los dos representantes personales del Patrimonio de Carl DeSantis
  • Cada tramo implicó liquidación física completa con el comprador externo no afiliado
  • Los términos de liquidación se basaron en el precio promedio ponderado por volumen entre el Precio Mínimo ($30.1191) y el Precio Máximo ($40.1588)

Tras estas transacciones, la propiedad beneficiaria de GRAT 1 disminuyó de 9,900,000 a 9,000,000 acciones. El precio de liquidación superó el Precio Máximo en las tres fechas de transacción, resultando en el pago máximo bajo los términos del VPF.

윌리엄 H. 밀모에, 셀시어스 홀딩스(CELH)의 10% 소유주는 2022년 8월 1일에 체결된 가변 선불 선도 매도 계약(VPF)의 세 차례 분할 정산을 보고했습니다. 거래는 2025년 6월 23일부터 25일까지 이루어졌습니다.

주요 거래 내용:

  • 총 900,000주 (하루에 300,000주씩)를 주당 $40.1588에 처분
  • 밀모에는 칼 드산티스 유산의 개인 대표 두 명 중 한 명으로서 GRAT 1, LLC를 통해 거래를 실행
  • 각 분할 거래는 비계열 제3자 구매자와의 완전 실물 정산으로 진행
  • 정산 조건은 최저 가격($30.1191)과 상한 가격($40.1588) 사이의 거래량 가중 평균 가격을 기준으로 함

이 거래들 이후 GRAT 1의 실질 소유 지분은 9,900,000주에서 9,000,000주로 감소했습니다. 정산 가격은 세 거래일 모두 상한 가격을 초과하여 VPF 조건에 따른 최대 지급이 이루어졌습니다.

William H. Milmoe, détenteur de 10 % de Celsius Holdings (CELH), a annoncé le règlement de trois tranches d’un contrat de vente à terme prépayé variable (VPF) conclu initialement le 1er août 2022. Les opérations ont eu lieu entre le 23 et le 25 juin 2025.

Détails clés de la transaction :

  • Disposition de 900 000 actions au total (300 000 actions par jour) au prix de 40,1588 $ par action
  • Transactions exécutées via GRAT 1, LLC, où Milmoe est l’un des deux représentants personnels de la succession de Carl DeSantis
  • Chaque tranche a impliqué un règlement physique complet avec l’acheteur tiers non affilié
  • Les conditions de règlement étaient basées sur le prix moyen pondéré en fonction du volume entre le prix plancher (30,1191 $) et le prix plafond (40,1588 $)

À la suite de ces transactions, la propriété bénéficiaire de GRAT 1 est passée de 9 900 000 à 9 000 000 actions. Le prix de règlement a dépassé le prix plafond lors des trois dates de transaction, entraînant un paiement maximal selon les termes du VPF.

William H. Milmoe, Inhaber von 10% an Celsius Holdings (CELH), meldete die Abwicklung von drei Tranchen eines variablen vorausbezahlten Terminkaufvertrags (VPF), der ursprünglich am 1. August 2022 abgeschlossen wurde. Die Transaktionen fanden zwischen dem 23. und 25. Juni 2025 statt.

Wichtige Transaktionsdetails:

  • Veräußerung von insgesamt 900.000 Aktien (300.000 Aktien pro Tag) zu 40,1588 $ pro Aktie
  • Transaktionen wurden über GRAT 1, LLC ausgeführt, wo Milmoe einer von zwei persönlichen Nachlassvertretern des Nachlasses von Carl DeSantis ist
  • Jede Tranche wurde vollständig physisch mit dem nicht verbundenen Dritten abgewickelt
  • Die Abwicklungsbedingungen basierten auf dem volumengewichteten Durchschnittspreis zwischen dem Mindestpreis (30,1191 $) und dem Höchstpreis (40,1588 $)

Nach diesen Transaktionen sank der wirtschaftliche Eigentumsanteil von GRAT 1 von 9.900.000 auf 9.000.000 Aktien. Der Abrechnungspreis überstieg an allen drei Transaktionsdaten den Höchstpreis, was zu einer maximalen Auszahlung gemäß den VPF-Bedingungen führte.

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*
Milmoe William H.

(Last) (First) (Middle)
190 S.E. 5TH AVENUE, SUITE 200

(Street)
DELRAY BEACH FL 33483

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Celsius Holdings, Inc. [ CELH ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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
Common Stock 06/23/2025 J/K(2)(3)(4) 300,000 D $40.1588 9,600,000 I See Footnote(1)
Common Stock 06/24/2025 J/K(2)(3)(4) 300,000 D $40.1588 9,300,000 I See Footnote(1)
Common Stock 06/25/2025 J/K(2)(3)(4) 300,000 D $40.1588 9,000,000 I See Footnote(1)
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
Variable Prepaid Forward Sale Contract (obligation to sell) (2)(3)(4) 06/23/2025 J/K(2)(3)(4) 300,000 (2)(3)(4) (2)(3)(4) Common Stock 300,000 $0(2)(3)(4) 0 I See Footnote(1)
Variable Prepaid Forward Sale Contract (obligation to sell) (2)(3)(4) 06/24/2025 J/K(2)(3)(4) 300,000 (2)(3)(4) (2)(3)(4) Common Stock 300,000 $0(2)(3)(4) 0 I See Footnote(1)
Variable Prepaid Forward Sale Contract (obligation to sell) (2)(3)(4) 06/25/2025 J/K(2)(3)(4) 300,000 (2)(3)(4) (2)(3)(4) Common Stock 300,000 $0(2)(3)(4) 0 I See Footnote(1)
Explanation of Responses:
1. The Reporting Person is one of the two personal representatives of the Estate of Carl DeSantis, which holds a one hundred percent (100%) beneficial ownership interest in GRAT 1, LLC ("GRAT 1"). Accordingly, the Reporting Person has shared voting and dispositive control over the shares held by GRAT 1, LLC..
2. On June 23, 2025, June 24, 2025, and June 25, 2025 GRAT 1 settled three tranches of a prepaid variable forward sale transaction (the "VPF") entered into on August 1, 2022 with an unaffiliated third-party buyer. For these three tranches of the VPF, GRAT 1 elected full physical settlement.
3. In full physical settlement of each of these three tranches of the VPF, the contract for the VPF obligated (i) GRAT 1 to deliver to the buyer 300,000 shares (adjusted for stock splits) of CELH common stock T+1 (the "Share Number") following the maturity of these tranches (occurring on June 20, 2025, June 23, 2025, and June 24, 2025), and (ii) the buyer to pay GRAT 1 an amount in cash equal to: (a) if the volume-weighted average price of CELH common stock on the maturity date for the tranche (each, a "Settlement Price") was greater than $30.1191 (the "Floor Price"), but less than or equal to $40.1588 (the "Cap Price"), the product of (x) the Share Number and (y) the excess of Settlement Price over the Floor Price; and (b) if Settlement Price was greater than the Cap Price, the product of (x) the Share Number and (y) $10.0397.
4. On each of June 20, 2025, June 23, 2025, and June 24, 2025, the Settlement Price was greater than the Cap Price. Accordingly, GRAT 1 transferred to the buyer a number of CELH shares and the buyer paid GRAT 1 amounts in cash determined pursuant to the formula above.
/s/ William H. Milmoe 06/26/2025
** 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.

FAQ

How many CELH shares did William H. Milmoe sell in June 2025?

William H. Milmoe, through GRAT 1 LLC, disposed of a total of 900,000 shares of Celsius Holdings (CELH) common stock over three days: 300,000 shares each on June 23, June 24, and June 25, 2025, at a price of $40.1588 per share.

What was the nature of CELH insider William Milmoe's Variable Prepaid Forward Sale transaction?

The transaction was the settlement of a prepaid variable forward sale (VPF) agreement entered on August 1, 2022. The VPF required GRAT 1 LLC to deliver 300,000 shares per tranche (adjusted for stock splits) with a floor price of $30.1191 and a cap price of $40.1588. The settlement occurred in three tranches on June 23, 24, and 25, 2025.

How many CELH shares does William Milmoe control after the June 2025 transactions?

After the transactions, GRAT 1 LLC, where William Milmoe serves as one of two personal representatives, beneficially owned 9,000,000 shares of CELH common stock. This represents indirect ownership through GRAT 1 LLC, which is controlled by the Estate of Carl DeSantis.

What is William Milmoe's relationship to Celsius Holdings (CELH)?

William H. Milmoe is a 10% owner of Celsius Holdings (CELH) and serves as one of two personal representatives of the Estate of Carl DeSantis, which holds 100% beneficial ownership interest in GRAT 1 LLC. Through this role, he has shared voting and dispositive control over the shares held by GRAT 1 LLC.
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