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Data Storage (DTST) Form 4: CFO RSUs Converted to Common Stock

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Panagiotakos Christos, Chief Financial Officer of Data Storage Corp (DTST), acquired shares through the vesting of restricted stock units tied to the company’s divestiture of its CloudFirst business. On 09/11/2025 two RSU grants vested upon consummation of the divestiture: 4,902 RSUs granted March 1, 2023 and 5,565 RSUs granted March 28, 2023. Each RSU converts one-for-one into common stock; the filing reports resulting beneficial ownership figures of 45,995 and 51,560 shares following those transactions. The Form 4 was signed by an attorney-in-fact on 09/15/2025.

Positive

  • RSUs vested and converted to common stock due to the CloudFirst divestiture, increasing the CFO's direct ownership
  • Filing discloses specific grant dates and amounts (March 1, 2023: 4,902 RSUs; March 28, 2023: 5,565 RSUs), improving transparency

Negative

  • None.

Insights

TL;DR: CFO received vested RSUs converting to common stock due to a business divestiture; this is an insider acquisition from compensation vesting.

The transaction reflects compensation-related vesting rather than an open-market purchase or sale. Two RSU awards from 2023 fully vested upon the CloudFirst divestiture on 09/11/2025 and converted one-for-one into common shares. These additions increase the reporting person’s direct holdings as indicated in the filing. There is no cash price paid reported and no sales disclosed, so immediate liquidity impact or signaling of share disposition is absent.

TL;DR: Vesting triggered by a corporate divestiture created automatic share ownership; common for executive compensation post-transaction.

The filing documents routine governance mechanics where outstanding RSUs accelerated and vested on consummation of a divestiture. The explanation ties vesting to contractual terms around the CloudFirst sale, consistent with change-in-control or transaction-related acceleration provisions. The Form 4 is properly filed showing conversion and resulting beneficial ownership, with signature by an attorney-in-fact dated 09/15/2025.

Insider Panagiotakos Christos
Role Chief Financial Officer
Type Security Shares Price Value
Exercise Restricted Stock Unit 4,902 $0.00 --
Exercise Restricted Stock Unit 5,565 $0.00 --
Exercise Common Stock 4,902 $0.00 --
Exercise Common Stock 5,565 $0.00 --
Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock — 45,995 shares (Direct)
Footnotes (1)
  1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. Represents shares of the Issuer's common stock underlying the unvested portion of an RSU granted to the Reporting Person on March 1, 2023, which unvested RSUs vested in full immediately upon consummation of the divestiture of the Issuer's CloudFirst business on September 11, 2025. Represents shares of the Issuer's common stock underlying the unvested portion of an RSU granted to the Reporting Person on March 28, 2023, which unvested RSUs vested in full immediately upon consummation of the divestiture of the Issuer's CloudFirst business on September 11, 2025.
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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).
1. Name and Address of Reporting Person*
Panagiotakos Christos
(Last) (First) (Middle)
C/O DATA STORAGE CORP,
225 BROADHOLLOW ROAD, SUITE 307
(Street)
MELVILLE NY 11747
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Data Storage Corp [ DTST ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025
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 09/11/2025 M 4,902(1) A (2) 45,995 D
Common Stock 09/11/2025 M 5,565(1) A (3) 51,560 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
Restricted Stock Unit (1) 09/11/2025 M 4,902(1) (2) (2) Common Stock 4,902 $0 0 D
Restricted Stock Unit (1) 09/11/2025 M 5,565(1) (3) (3) Common Stock 5,565 $0 0 D
Explanation of Responses:
1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
2. Represents shares of the Issuer's common stock underlying the unvested portion of an RSU granted to the Reporting Person on March 1, 2023, which unvested RSUs vested in full immediately upon consummation of the divestiture of the Issuer's CloudFirst business on September 11, 2025.
3. Represents shares of the Issuer's common stock underlying the unvested portion of an RSU granted to the Reporting Person on March 28, 2023, which unvested RSUs vested in full immediately upon consummation of the divestiture of the Issuer's CloudFirst business on September 11, 2025.
/s/ Wendy Schmittzeh, Attorney-in-fact 09/15/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What transactions did DTST CFO Panagiotakos Christos report on Form 4?

The CFO reported the vesting and acquisition of 4,902 RSUs (granted March 1, 2023) and 5,565 RSUs (granted March 28, 2023), which converted one-for-one into common stock on 09/11/2025.

Why did the RSUs vest for DTST insider Panagiotakos Christos?

The RSUs vested in full immediately upon consummation of the divestiture of the issuer’s CloudFirst business on 09/11/2025, per the filing explanation.

How many shares did the Form 4 show as beneficially owned after the transactions?

The filing reports beneficial ownership figures of 45,995 and 51,560 shares following the respective reported transactions.

Did the Form 4 report any sale or cash purchase by the reporting person?

No. The Form 4 shows acquisitions via RSU vesting and does not report any sales or open-market purchases.

Who signed the Form 4 for Panagiotakos Christos and when?

The form was signed by /s/ Wendy Schmittzeh, Attorney-in-fact on 09/15/2025.