[Form 4] Greenidge Generation Holdings Inc. 8.50% Senior Notes due 2026 Insider Trading Activity

Rhea-AI Filing Summary

Charles M. Zeynel, a director of Greenidge Generation Holdings Inc. (symbol provided as GREEL), was granted 68,493 restricted stock units (RSUs) on 08/18/2025 as an initial award under the company's Third Amended and Restated 2021 Equity Incentive Plan in connection with his board appointment. Each RSU represents a contingent right to one share of the issuer's Class A common stock and the award price is reported as $0.

The RSUs vest in approximately three equal annual installments beginning one year after the grant date, and the reporting form shows 68,493 shares beneficially owned following the transaction on a direct basis. The Form 4 was signed by Mr. Zeynel on 08/20/2025.

Positive

• Alignment of interests: RSU grant ties the director’s compensation to the company’s stock performance through multi‑year vesting
• Transparency: The Form 4 discloses grant amount, grant date (08/18/2025), vesting schedule, and reporting signature (08/20/2025)

Negative

• Potential dilution: 68,493 RSUs represent future possible issuance of Class A shares when vested, increasing share count
• Limited context: Filing does not state total shares outstanding or plan reserve, so the grant’s relative materiality is unclear

Insights

Corporate Governance Expert

TL;DR: Director awarded RSUs to align incentives with shareholders; vesting schedule is standard for initial director grants.

The grant of 68,493 RSUs to a newly appointed director is a common governance practice to align the director's interests with long‑term shareholder value. The award vests in three roughly equal annual installments beginning one year after the grant, which encourages multi-year engagement on the board. The grant is reported as having a $0 price because RSUs are contingent rights to receive shares rather than purchases. This disclosure is routine and provides transparency on insider compensation and potential future dilution when RSUs convert to shares.

Financial Analyst

TL;DR: The filing reports a non‑cash equity compensation grant; immediate market impact is likely limited absent additional context.

The Form 4 documents a non‑derivative award of 68,493 RSUs to Director Charles M. Zeynel on 08/18/2025, with vesting over three years. Because the RSUs carry no upfront cash price and convert to one share per RSU upon vesting, the primary investor implications are future share issuance (dilution) and director alignment. Without information on total shares outstanding or plan reserve levels, the materiality of this grant to shareholders cannot be determined from this filing alone.

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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Zeynel Charles M.

(Last) (First) (Middle)

C/O GREENIDGE GENERATION HOLDINGS INC.

1159 PITTSFORD-VICTOR ROAD, SUITE 240

(Street)

PITTSFORD NY 14534

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Greenidge Generation Holdings Inc. [ GREE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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
Class A Common Stock	08/18/2025(1)		A		68,493	A	$0	68,493	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

Explanation of Responses:

1. Represents restricted stock units ("RSUs") granted as an initial award pursuant to the Issuer's Third Amended and Restated 2021 Equity Incentive Plan in connection with the Reporting Person's appointment to the Issuer's Board of Directors. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. The RSUs vest in three approximately equal annual installments beginning one year after the grant date.

Remarks:

	/s/ Charles M. Zeynel	08/20/2025
	** 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.

FAQ

What did the Form 4 filed for GREEL report?

It reported a grant of 68,493 RSUs to director Charles M. Zeynel on 08/18/2025, disclosed on the Form 4 signed 08/20/2025.

How do the RSUs vest for the awarded shares?

The RSUs vest in three approximately equal annual installments beginning one year after the grant date.

Does the Form 4 show any purchase price for the RSUs?

The reported price is $0, reflecting that these are restricted stock units convertible into shares rather than purchased shares.

How many shares does the reporting person beneficially own after the transaction?

68,493 shares are reported as beneficially owned on a direct basis following the transaction.

Who signed the Form 4 and when?

Charles M. Zeynel signed the Form 4 on 08/20/2025.