Edgemode director granted 10M restricted shares
Kiero-Watson Simon Scott reported acquisition or exercise transactions in this Form 4 filing.
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Form Type
4
Rhea-AI Filing Summary
Kiero-Watson Simon Scott reported acquisition or exercise transactions in this Form 4 filing.
Edgemode, Inc. reported that director Kiero-Watson Simon Scott received a grant of 10,000,000 shares of restricted common stock. The award was approved by the Board of Directors and is fully vested. Following this grant, Scott directly holds 12,637,215 shares of Edgemode common stock.
Insider Trade Summary
Grant/Award: 10,000,000 shares
Grant/Award
1 txn
Insider
Kiero-Watson Simon Scott
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 10,000,000 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 12,637,215 shares (Direct)
Footnotes (1)
- F1. The grant of the Issuer's restricted common stock was exempt from Section 16(b) of the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder, as it was approved by the Issuer's Board of Directors. The shares of restricted common stock are fully vested.
Key Figures
Restricted stock grant: 10,000,000 shares
Grant price: $0.0000 per share
Post-grant holdings: 12,637,215 shares
+1 more
4 metrics
Restricted stock grant
10,000,000 shares
Grant of restricted common stock to director
Grant price
$0.0000 per share
Transaction price for restricted stock award
Post-grant holdings
12,637,215 shares
Director’s total common shares following transaction
Section 16(b) exemption
Rule 16b-3
Grant approved by Board of Directors
Key Terms
restricted common stock, Section 16(b), Rule 16b-3, fully vested
4 terms
restricted common stock financial
"The grant of the Issuer's restricted common stock was exempt from Section 16(b)..."
Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.
Section 16(b) regulatory
"was exempt from Section 16(b) of the Securities Exchange Act of 1934..."
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
Rule 16b-3 regulatory
"by virtue of Rule 16b-3 promulgated thereunder, as it was approved..."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
fully vested financial
"The shares of restricted common stock are fully vested."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Edgemode (EDGM) report for Kiero-Watson Simon Scott?
Edgemode reported that director Kiero-Watson Simon Scott received a grant of 10,000,000 shares of restricted common stock. The award is fully vested and increases his direct holdings to 12,637,215 common shares in the company.
Was the Edgemode (EDGM) stock grant to Kiero-Watson Simon Scott approved by the board?
Yes. The filing states the grant of restricted common stock to Kiero-Watson Simon Scott was approved by Edgemode’s Board of Directors. This approval qualifies the transaction for an exemption under Rule 16b-3 from Section 16(b) of the Exchange Act.
How is the Edgemode (EDGM) stock grant to Kiero-Watson Simon Scott treated under Section 16(b)?
The filing notes the grant of restricted common stock is exempt from Section 16(b) of the Exchange Act under Rule 16b-3. This exemption applies because Edgemode’s Board of Directors approved the award as part of director compensation arrangements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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