Edgemode (EDGM) CFO swaps $386K accrued salary for Series D voting share
Rhea-AI Filing Summary
Edgemode, Inc. reported that its Chief Financial Officer, who is also a director and 10% owner, acquired one share of Series D Preferred Stock on 12/10/2025. This share was issued in exchange for $386,000 of accrued salary under an employment agreement dated January 31, 2022, as amended. The Series D Preferred Stock is perpetual, has no conversion, redemption, preferential dividend, or liquidation rights, and therefore functions primarily as a governance instrument rather than an economic preference. Each share of Series D Preferred Stock carries voting power equal to 25.5% of the issued and outstanding common stock, giving the holder substantial influence over shareholder votes.
Positive
- None.
Negative
- None.
Insights
Edgemode’s CFO exchanged $386K salary for a single preferred share with 25.5% voting power.
The filing shows the Chief Financial Officer, also a director and 10% owner, acquired one share of Series D Preferred Stock on 12/10/2025 by converting $386,000 of accrued salary. The security is described as perpetual, non-convertible, and without redemption, preferential dividend, or liquidation rights, so its primary significance lies in control rather than added economic preference.
Each Series D share carries voting power equal to 25.5% of Edgemode’s issued and outstanding common stock, meaning this single share provides substantial influence over matters submitted to shareholder votes. The structure concentrates voting power in the reporting person while using accrued compensation as consideration. Future company disclosures may elaborate on how this governance structure interacts with other share classes and holders in upcoming shareholder decisions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Series D Preferred Stock | 1 | $0.00 | -- |
Footnotes (1)
- The Series D Preferred Stock is not convertible, does not have any redemption, preferential dividend or liquidation rights. The Series D Preferred Stock is perpetual and therefore has no expiration date. Holder of Series D Preferred Stock shall be entitled to vote with the holders of common stock on all matters submitted to a vote of shareholders and each share of Series D Preferred Stock entitles the holder to voting power equal to 25.5% of the issued and outstanding shares of the Issuer's common stock. The Reporting Person converted $386,000 of accrued salary under that certain Employment Agreement dated January 31, 2022, as amended, and acquired one share of Series D Preferred Stock.
FAQ
What insider transaction did Edgemode (EDGM) disclose in this Form 4?
Edgemode disclosed that its Chief Financial Officer, who is also a director and 10% owner, acquired one share of Series D Preferred Stock on 12/10/2025.
How much accrued salary did the Edgemode (EDGM) CFO convert in this transaction?
The reporting person converted $386,000 of accrued salary under an employment agreement dated January 31, 2022, as amended, to acquire one share of Series D Preferred Stock.
What voting rights does Edgemode’s Series D Preferred Stock provide?
Each share of Series D Preferred Stock votes together with common stock, and entitles the holder to voting power equal to 25.5% of the issued and outstanding common shares on all shareholder matters.
Does Edgemode’s Series D Preferred Stock have conversion, dividend, or liquidation preferences?
The filing states that the Series D Preferred Stock is not convertible and has no redemption, preferential dividend, or liquidation rights, and is described as perpetual with no expiration date.
What roles does the reporting person hold at Edgemode (EDGM)?
The reporting person is identified as a Director, a 10% Owner, and an Officer serving as Chief Financial Officer of Edgemode, Inc.
How is the Series D Preferred Stock ownership reported in this Form 4 for Edgemode?
The Form 4 shows the acquisition of one derivative security (Series D Preferred Stock) on 12/10/2025 as an acquired (A) position held under direct (D) ownership.