ConnectM (CNTM) CEO Bhaskar Panigrahi reports insider share buys

Rhea-AI Filing Summary

ConnectM Technology Solutions insider Bhaskar Panigrahi reported open-market purchases of company stock. On November 28, 2025, he bought 194,900 shares of common stock at $0.22 per share in his personal brokerage account, which are held directly. On the same date, Avanti Holdings LLC, where he is the controlling equity holder, acquired 102,500 shares at $0.24 per share, which are reported as indirectly owned.

Following these transactions, Panigrahi is shown as directly owning 4,616,453 shares and indirectly owning 4,718,953 shares through entities including Avanti Holdings LLC, his personal holdings, and Southwood Partners LP. He serves as Chairman of the Board of Directors and Chief Executive Officer. The filing notes that these trades were inadvertently not reported within the required period and that he disclaims beneficial ownership of some indirect shares except for his economic interest.

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
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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^*

Panigrahi Bhaskar

(Last) (First) (Middle)

C/O CONNECTM TECHNOLOGY SOLUTIONS, INC.

2 MOUNT ROYAL AVE., SUITE 550

(Street)

MARLBOROUGH MA 01752

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ConnectM Technology Solutions, Inc. [ CNTM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

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	11/28/2025	11/28/2025	P(1)		194,900	A	$0.22	4,616,453	D
Common Stock	11/28/2025	11/28/2025	P(2)		102,500	A	$0.24	4,718,953(3)	I	Avanti Holdings LLC

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 Reporting Person inadvertently failed to timely file Form 4 within the required reporting period. 194,900 shares were purchased on November 28, 2025 on the open market through the Reporting Person's brokerage account and are held in the name of the Reporting Person.

2. The Reporting Person inadvertently failed to timely file Form 4 within the required reporting period. 102,500 shares were acquired by Avanti Holdings LLC on November 28, 2025 on the open market through the Avanti Holdings LLC brokerage account. These shares are held by Avanti Holdings LLC, of which the Reporting Person is the controlling equity holder. As such, the Reporting Person may be deemed to have beneficial ownership of such shares. The Reporting Person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.

3. Consists of (i) 3,688,160 shares held by Avanti Holdings LLC, (ii) 900,466 shares held by Mr. Panigrahi and (iii) 127,838 shares held by Southwood Partners LP. Mr. Panigrahi is an equity holder of Avanti Holdings LLC and Southwood Partners LP.

Remarks:

Chairman of the Board of Directors and Chief Executive Officer

	/s/ Bhaskar Panigrahi, individually and as Managing Member of Avanti Holdings, LLC	12/11/2025
	** 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

What insider transaction did CNTM's Bhaskar Panigrahi report?

Bhaskar Panigrahi reported open-market purchases of ConnectM Technology Solutions common stock on November 28, 2025, through both his personal account and Avanti Holdings LLC.

How many CNTM shares did Bhaskar Panigrahi buy and at what prices?

He purchased 194,900 shares at $0.22 per share in his personal account and 102,500 shares at $0.24 per share through Avanti Holdings LLC.

What is Bhaskar Panigrahi’s total reported beneficial ownership in CNTM?

After the reported trades, the form lists 4,616,453 shares of common stock as directly owned and 4,718,953 shares as indirectly owned, with the indirect amount noted in a footnote description.

How are Avanti Holdings LLC and Southwood Partners LP related to CNTM insider ownership?

A footnote states that the reported holdings consist of shares held by Avanti Holdings LLC, by Mr. Panigrahi personally, and by Southwood Partners LP, and that Mr. Panigrahi is an equity holder in both entities.

Did the CNTM insider indicate any filing issues with these transactions?

Yes. The explanations state that the reporting person inadvertently failed to timely file within the required reporting period for both the personal and Avanti Holdings LLC share purchases.

What position does Bhaskar Panigrahi hold at ConnectM Technology Solutions (CNTM)?

The remarks identify Bhaskar Panigrahi as Chairman of the Board of Directors and Chief Executive Officer of ConnectM Technology Solutions, Inc.

Does Bhaskar Panigrahi claim full beneficial ownership of all indirectly held CNTM shares?

No. The filing notes that he may be deemed to beneficially own those shares but disclaims beneficial ownership beyond his pecuniary interest in them.