Director at Solana Co (HSDT) receives RSU award and updates split-adjusted holdings

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

4/A

Rhea-AI Filing Summary

STRAW EDWARD M reported acquisition or exercise transactions in this Form 4 filing.

Solana Co director Edward M. Straw received a grant of 2,180 shares of Class A Common Stock as restricted stock units under the company’s 2022 Equity Incentive Plan. The award carries no purchase price and increased his direct holdings to 2,182 shares following the transaction.

According to the terms, 75% of the RSUs vested on March 31, 2026, and the remaining 25% are scheduled to vest on June 30, 2026, conditioned on his continued service. The amendment also notes three reverse stock splits in 2023 and 2025 and explains that the reported share numbers have been adjusted because the initial Form 4 did not reflect these splits.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider STRAW EDWARD M

Role null

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	2,180	$0.00	--

Holdings After Transaction: Class A Common Stock — 2,182 shares (Direct, null)

Footnotes (1)

Grant to the Reporting Person of restricted stock units ("RSUs") under the Issuer's 2022 Equity Incentive Plan. 75% of the RSUs vested on March 31, 2026, and the remaining 25% of RSUs will vest on June 30, 2026, subject to the Reporting Person's continued service through such vesting period. The Issuer implemented three reverse stock splits. Effective August 16, 2023, the Issuer effected a 1-for-50 reverse stock split for the Issuer's Class A common stock, effective May 2, 2025, the Issuer effected a second 1-for-15 reverse stock split of the Issuer's Class A common stock and effective July 1, 2025, the Issuer effected a third 1-for-50 reverse stock split of the Issuer's Class A common stock. The number of securities reported herein have been adjusted to reflect the reverse stock split. The initial Form 4 did not account for the reverse stock splits.

Key Figures

RSU grant size: 2,180 shares Shares after transaction: 2,182 shares Grant price: $0.0000 per share +5 more

8 metrics

RSU grant size 2,180 shares Restricted stock units of Class A Common Stock granted March 31, 2026

Shares after transaction 2,182 shares Total Class A Common Stock directly held following the RSU grant

Grant price $0.0000 per share Reported transaction price for the RSU award

Initial vesting portion 75% of RSUs Vested on March 31, 2026, subject to continued service

Remaining vesting portion 25% of RSUs Scheduled to vest on June 30, 2026, subject to continued service

First reverse split ratio 1-for-50 Reverse stock split effective August 16, 2023 for Class A common stock

Second reverse split ratio 1-for-15 Reverse stock split effective May 2, 2025 for Class A common stock

Third reverse split ratio 1-for-50 Reverse stock split effective July 1, 2025 for Class A common stock

Key Terms

restricted stock units ("RSUs"), 2022 Equity Incentive Plan, reverse stock splits, Form 4

4 terms

restricted stock units ("RSUs") financial

"Grant to the Reporting Person of restricted stock units ("RSUs") under the Issuer's 2022 Equity Incentive Plan."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

2022 Equity Incentive Plan financial

"Grant to the Reporting Person of restricted stock units ("RSUs") under the Issuer's 2022 Equity Incentive Plan."

reverse stock splits financial

"The Issuer implemented three reverse stock splits. Effective August 16, 2023, the Issuer effected a 1-for-50 reverse stock split..."

A reverse stock split is when a company combines multiple existing shares into fewer higher-priced shares—like trading four small slices of a pie for one larger slice. It doesn’t change the overall value of an investor’s holdings immediately, but it raises the per-share price and can matter to investors because it can affect market perception, stock exchange listing eligibility, and trading liquidity, and it changes share counts used in investor metrics.

Form 4 regulatory

"The initial Form 4 did not account for the reverse stock splits."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

05/26/2026 - 07:18 PM

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
Estimated average burden
hours per response:			0.5

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^*

STRAW EDWARD M

(Last)

(First)

(Middle)

C/O SOLANA COMPANY

1650 MARKET STREET

(Street)

PHILADELPHA

PENNSYLVANIA

19103

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Solana Co [ HSDT ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
04/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	03/31/2026		A		2,180⁽¹⁾	A	$0	2,182⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Grant to the Reporting Person of restricted stock units ("RSUs") under the Issuer's 2022 Equity Incentive Plan. 75% of the RSUs vested on March 31, 2026, and the remaining 25% of RSUs will vest on June 30, 2026, subject to the Reporting Person's continued service through such vesting period.

2. The Issuer implemented three reverse stock splits. Effective August 16, 2023, the Issuer effected a 1-for-50 reverse stock split for the Issuer's Class A common stock, effective May 2, 2025, the Issuer effected a second 1-for-15 reverse stock split of the Issuer's Class A common stock and effective July 1, 2025, the Issuer effected a third 1-for-50 reverse stock split of the Issuer's Class A common stock. The number of securities reported herein have been adjusted to reflect the reverse stock split. The initial Form 4 did not account for the reverse stock splits.

	/s/ Agustina Gani Tjandrasuwita, Attorney-in-Fact	05/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Solana Co (HSDT) director Edward M. Straw report?

Edward M. Straw reported receiving 2,180 shares of Class A Common Stock as restricted stock units under Solana Co’s 2022 Equity Incentive Plan. The grant was reported at a price of $0.00 per share and is compensation-related, not an open-market purchase.

How do the Solana Co (HSDT) RSUs granted to Edward M. Straw vest?

The restricted stock units granted to Edward M. Straw vest in two stages. Footnotes state that 75% vested on March 31, 2026, while the remaining 25% will vest on June 30, 2026, assuming he continues to serve through the entire vesting period.

How many Solana Co (HSDT) shares does Edward M. Straw hold after this Form 4/A?

After the reported RSU grant, Edward M. Straw directly holds 2,182 shares of Solana Co Class A Common Stock. This total reflects the impact of the RSU acquisition and incorporates prior adjustments related to reverse stock splits described in the filing footnotes.

Why did Solana Co (HSDT) file an amended Form 4/A for Edward M. Straw?

The amendment explains that Solana Co previously implemented three reverse stock splits, and the initial Form 4 did not reflect these adjustments. The Form 4/A updates the number of securities reported so they align with the post-split share counts and accurately present his holdings.

What reverse stock splits did Solana Co (HSDT) disclose in relation to this Form 4/A?

Solana Co disclosed three reverse stock splits affecting its Class A common stock: a 1-for-50 split effective August 16, 2023, a 1-for-15 split effective May 2, 2025, and a 1-for-50 split effective July 1, 2025. The reported figures reflect these adjustments.