Greenland Energy director buys shares and warrants
Greenland Energy Co director Baqar Hassan reported multiple insider purchases and a prior derivative conversion.
Rhea-AI Filing Summary
Greenland Energy Co director Baqar Hassan reported multiple insider purchases and a prior derivative conversion. On May 4, 2026, he bought 45,000 shares of common stock at a weighted average price of $2.90 per share, with trades ranging from $2.78 to $2.93 per share.
That same day he purchased 25,000 public warrants (GLNDW) at a weighted average price of $0.999 per warrant, with an exercise price of $11.50 per share. Earlier, on December 5, 2025, he acquired 30,000 Pelican Rights at $0.299 per right, which automatically converted into 3,000 common shares on March 25, 2026 at an effective cost of about $2.99 per share. He also holds 375,000 additional warrants exercisable at $15.00 per share expiring in 2036.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 100,000 shares
Net Buy
6 txns
Insider
BAQAR HASSAN
Role
Director
Bought
100,000 shs ($164K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Public Warrants | 25,000 | $0.999 | $25K |
| Purchase | Common Stock | 45,000 | $2.90 | $131K |
| Conversion | Pelican Rights | 30,000 | $0.00 | $0.00 |
| Conversion | Common Stock | 3,000 | $0.00 | $0.00 |
| Purchase | Pelican Rights | 30,000 | $0.299 | $9K |
| holding | Warrants | -- | -- | -- |
Holdings After Transaction:
Pelican Rights — 0 contracts (Direct);
Public Warrants — 25,000 contracts (Direct);
Common Stock — 0 shares (Direct);
Warrants — 375,000 contracts (Direct)
Footnotes (5)
- F1. On December 5, 2025, the Reporting Person purchased 30,000 rights of Pelican Acquisition Corporation ("Pelican Rights") on the open market at $0.299 per right. Each ten (10) Pelican Rights entitled the holder to receive one (1) share of common stock upon consummation of a business combination. On March 25, 2026, the 30,000 Pelican Rights automatically converted into 3,000 shares of common stock of Greenland Energy Company in connection with the closing of the business combination, at an effective cost basis of approximately $2.99 per share. The Pelican Rights and the resulting shares of common stock were inadvertently omitted from the Reporting Person's Initial Statement of Beneficial Ownership on Form 3 filed on March 31, 2026, and are being reported herein.
- F2. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.78 to $2.93 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- F3. Comprised of 375,000 warrants, with each warrant exercisable for one share of common stock, par value $0.0001 per share, of Greenland Energy Company at an exercise price of $15.00 per share. These warrants were issued to the Reporting Person in connection with the business combination consummated by Greenland Energy Company (formerly Pelican Holdco, Inc.), March GL Company, Greenland Exploration Limited, and Pelican Acquisition Corporation.
- F4. Comprised of 25,000 public warrants (ticker: GLNDW), with each warrant exercisable for one share of common stock, par value $0.0001 per share, of Greenland Energy Company at an exercise price of $11.50 per share. These warrants were acquired in an open market purchase.
- F5. The price reported is a weighted average price. These warrants were purchased in multiple transactions at prices ranging from $0.99 to $1.00 per warrant. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of warrants purchased at each separate price within the range set forth in this footnote.
Key Figures
Common shares purchased: 45,000 shares at $2.90/share
Public warrants purchased: 25,000 warrants at $0.999 each
Public warrant exercise price: $11.50 per share
+3 more
6 metrics
Common shares purchased
45,000 shares at $2.90/share
Open-market purchase on May 4, 2026; weighted average price
Public warrants purchased
25,000 warrants at $0.999 each
Open-market purchase on May 4, 2026; weighted average price
Public warrant exercise price
$11.50 per share
Each of the 25,000 public warrants exercisable for one common share
Pelican Rights purchased
30,000 rights at $0.299 each
Open-market purchase on December 5, 2025
Shares from Pelican Rights
3,000 common shares at ~$2.99/share
Automatic conversion on March 25, 2026 after business combination
Long-dated warrants held
375,000 warrants at $15.00/share
Exercisable for 375,000 common shares; expire March 25, 2036
Key Terms
Pelican Rights, derivative security, weighted average price, public warrants, +1 more
5 terms
Pelican Rights financial
"purchased 30,000 rights of Pelican Acquisition Corporation ("Pelican Rights") on the open market"
derivative security financial
"transaction_code_description": "Conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
weighted average price financial
"The price reported is a weighted average price. These shares were purchased in multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
public warrants financial
"Comprised of 25,000 public warrants (ticker: GLNDW), with each warrant exercisable for one share"
Public warrants are tradable securities that give the holder the right to buy a company’s stock at a fixed price before a set expiration date. Like a coupon that lets you purchase shares later at a preset price, they matter to investors because using them can bring new cash into the company but also increase the total number of shares outstanding, which can dilute existing ownership and influence the stock’s price and potential gains.
exercise price financial
"each warrant exercisable for one share of common stock ... at an exercise price of $15.00 per share"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
What insider transactions did Baqar Hassan report for Greenland Energy Co (GLND)?
Baqar Hassan reported buying 45,000 Greenland Energy common shares at a weighted average of $2.90 and 25,000 public warrants at about $0.999. He also disclosed earlier Pelican Rights that converted into 3,000 common shares, plus a large warrant position remaining outstanding.
At what prices did Baqar Hassan buy GLND common stock and warrants?
He purchased 45,000 common shares at a weighted average price of $2.90, with trades between $2.78 and $2.93. He also bought 25,000 public warrants at a weighted average of $0.999, with individual trades ranging from $0.99 to $1.00 per warrant.
What are the Pelican Rights mentioned in the Greenland Energy (GLND) Form 4?
Pelican Rights were securities of Pelican Acquisition Corporation, where each ten rights entitled the holder to one common share after a business combination. Hassan bought 30,000 rights at $0.299 each, which automatically converted into 3,000 Greenland Energy common shares on March 25, 2026 at an effective $2.99 per share.
What derivative positions does Baqar Hassan hold in Greenland Energy Co (GLND)?
He holds 25,000 public warrants exercisable for common stock at $11.50 per share and 375,000 additional warrants exercisable at $15.00 per share. These derivative positions provide potential future equity exposure if exercised before their respective expirations, including a long-dated series expiring in 2036.
Were Baqar Hassan’s Greenland Energy (GLND) trades open-market transactions?
Yes. The filing describes the 45,000 common shares, 25,000 public warrants, and 30,000 Pelican Rights as open-market purchases, with weighted average prices and detailed trading ranges. This indicates they were regular market transactions rather than grants or private awards from the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
