DevvStream director converts into 2,526,405 shares

DevvStream Corp. director Stanton Carl reported an indirect acquisition of shares through a conversion of debt.

Rhea-AI Filing Summary

DevvStream Corp. director Stanton Carl reported an indirect acquisition of shares through a conversion of debt. On March 13, 2026, Focus Impact Partners, LLC (FIP) converted two convertible promissory notes, representing consulting services and loans to DevvStream, into 2,526,405 Common Shares at $0.9026 per share. The Convertible Promissory Note position shown in the filing dropped to zero, and FIP now holds 2,526,405 DevvStream Common Shares indirectly, with FIP controlled by Wray T. Thorn and Stanton Carl.

Insider Trade Summary

2,526,405 shares exercised/converted

Exercise 2 txns

Insider Stanton Carl

Role Director

Type	Security	Shares	Price	Value
Conversion	Convertible Promissory Note	2,526,405	$0.9026	$2.28M
Conversion	Common Shares	2,526,405	$0.9026	$2.28M

Holdings After Transaction: Convertible Promissory Note — 0 contracts (Indirect, Manager of FIP); Common Shares — 2,526,405 shares (Indirect, Manager of FIP)

Footnotes (1)

1. F1. Focus Impact Partners, LLC ("FIP") provided consulting services to the Issuer and loaned funds to the Issuer, pursuant to two convertible promissory notes. FIP and Issuer entered into a Conversion Agreement to convert all amounts owed into 2,526,405 Common Shares at a per share price of $0.9026. FIP is controlled by Wray T. Thorn and the reporting person.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did DevvStream (DEVS) director Stanton Carl report?

Stanton Carl reported an indirect acquisition of DevvStream shares. A convertible promissory note held via Focus Impact Partners, LLC was converted into 2,526,405 DevvStream Common Shares at $0.9026 per share on March 13, 2026, eliminating the note position.

How many DevvStream (DEVS) shares were received in the Form 4 conversion?

The transaction produced 2,526,405 DevvStream Common Shares. These shares resulted from converting amounts owed under two convertible promissory notes into equity at a per share price of $0.9026, as detailed in the footnote describing the Conversion Agreement.

What was the conversion price in the DevvStream (DEVS) Form 4 filing?

The conversion price was $0.9026 per DevvStream Common Share. Focus Impact Partners, LLC and DevvStream agreed to convert all amounts owed under two convertible promissory notes into 2,526,405 Common Shares at this stated per share price.

Who actually holds the DevvStream (DEVS) shares from Stanton Carl’s Form 4?

The shares are held indirectly through Focus Impact Partners, LLC. The Form 4 notes that Carl’s ownership is indirect as “Manager of FIP,” and FIP is controlled by Wray T. Thorn and Stanton Carl, making the position an entity-level holding.

Did the DevvStream (DEVS) Form 4 involve open-market buying or selling?

No, the filing reflects a conversion of a derivative security. The Form 4 shows transaction code C, describing a conversion of convertible promissory notes into 2,526,405 Common Shares, rather than an open-market purchase or sale of existing shares.

What happened to the convertible promissory notes in the DevvStream (DEVS) Form 4?

The convertible promissory notes were fully converted into equity. The filing shows 2,526,405 underlying Common Shares issued upon conversion, with total Convertible Promissory Note holdings following the transaction reduced to zero, indicating no remaining derivative position.

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Accepted by SEC EDGAR 03/20/2026 - 02:20 PM EDT Learn about SEC filing dates

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^*

Stanton Carl

(Last) (First) (Middle)

C/O FOCUS IMPACT

1345 AVENUE OF THE AMERICAS, 33RD FLOOR

(Street)

NEW YORK NEW YORK 10105

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DevvStream Corp. [ DEVS ]

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)
03/13/2026

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
Common Shares	03/13/2026		C		2,526,405	A	$0.9026	2,526,405(1)	I(1)	Manager of FIP

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
Convertible Promissory Note(1)	$0.9026	03/13/2026		C			2,526,405(1)	(1)	(1)	Common Shares	2,526,405	$0.9026	0	I(1)	Manager of FIP

Explanation of Responses:

1. Focus Impact Partners, LLC ("FIP") provided consulting services to the Issuer and loaned funds to the Issuer, pursuant to two convertible promissory notes. FIP and Issuer entered into a Conversion Agreement to convert all amounts owed into 2,526,405 Common Shares at a per share price of $0.9026. FIP is controlled by Wray T. Thorn and the reporting person.

	/s/ Julio C. Esquivel as Attorney-In-Fact for Reporting Person	03/20/2026
	** 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)