Data Storage Corp insider report: RSUs convert to 19,221 shares on 09/11/2025
Rhea-AI Filing Summary
Data Storage Corp (DTST) insider filing shows automatic vesting of restricted stock units upon a business divestiture and a correction to previously reported ownership. The reporting person, Charles M. Piluso, had two RSU awards convert one-for-one into common stock on 09/11/2025, totaling 9,804 and 9,417 shares (combined 19,221 shares) that vested immediately upon consummation of the divestiture of the Company’s CloudFirst business. The Form 4 lists multiple direct and indirect holdings, including interests through Piluso Family Associates (16,667 shares), Piluso Family Associates LLC (65,083 shares), The Lasata 2012 Trust (230,116 shares) and The Bella Vita 2012 Trust (230,116 shares).
The filing notes an adjustment correcting an immaterial error in the previously reported post-transaction beneficial ownership amount disclosed on a prior Form 4 filed 06/11/2025.
Positive
- 19,221 RSUs vested (9,804 and 9,417) on 09/11/2025, converting one-for-one into common stock
- Transparent disclosure of indirect holdings through Piluso Family Associates, Piluso Family Associates LLC, and two trusts
Negative
- Prior Form 4 required a correction to the amount of securities beneficially owned (described as immaterial)
Insights
TL;DR: Two RSU grants vested on consummation of a divestiture, increasing the insider's direct holdings by 19,221 shares; prior filing was corrected.
The transactions are non-discretionary vesting events tied to the consummation of the CloudFirst divestiture on 09/11/2025, not open-market purchases or sales. From a governance perspective, accelerated vesting on corporate transactions is common and aligns management incentives with transaction completion. The filing also discloses multiple indirect holdings through family entities and trusts, which is important for understanding aggregate insider control. The note correcting an immaterial error in a prior Form 4 suggests attention to reporting accuracy but does not, on its face, indicate substantive governance issues.
TL;DR: The report documents the conversion of RSUs into 19,221 shares upon a divestiture; holdings across entities total several hundred thousand shares.
For investors tracking insider ownership, the direct vesting of 19,221 shares increases the reporting person's immediate stake, while indirect holdings via family entities and trusts sum to meaningful positions (each trust holding 230,116 shares). The filing contains a retrospective adjustment to prior beneficial ownership figures described as immaterial. These entries are routine disclosures of compensation-related vesting and ownership structure rather than active trading.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 9,804 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 9,417 | $0.00 | -- |
| Exercise | Common Stock | 9,804 | $0.00 | -- |
| Exercise | Common Stock | 9,417 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (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. The Reporting Person is a Managing Member of Piluso Family Associates, together with his spouse. The Reporting Person is a Managing Member of Piluso Family Associates LLC, together with his spouse. The Reporting Person's spouse is the beneficiary of The Lasata 2012 Trust dated 5/4/12 (the "Lasata Trust") and the Reporting Person's spouse, together with Lawrence Maglione, a director of the Issuer, are the co-trustees of the Lasata Trust. The Reporting Person is the beneficiary of The Bella Vita 2012 Trust dated 5/4/12 (the "Bella Vita Trust") and the Reporting Person, together with his spouse, are the co-trustees thereof. The amount of securities beneficially owned following the reported transaction by the Reporting Person is correctly reported on this Form 4. The amount of securities beneficially owned following the reported transaction by the Reporting Person has been adjusted to correct an immaterial error in the amount of securities beneficially owned following the reported transaction as disclosed in a prior Form 4 filing that was filed with the Securities and Exchange Commission on 06/11/2025.
