How did the reverse stock split affect the share amounts in this CASK Form 4?

All share amounts reflect a 1-for-20 reverse stock split effective April 23, 2026. This means historical quantities were adjusted so every 20 pre-split shares became one post-split share, aligning the reported holdings and transactions with the new capital structure.

IP STRATEGY (NASDAQ: CASK) reports RSU vesting and tax share return

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

IP STRATEGY HOLDINGS, INC. director and President & Secretary Jennifer D. H. Stiefel reported routine equity compensation activity tied to restricted stock units (RSUs). On May 2, 2026, 1,666 RSUs converted into an equal number of common shares, reflecting a 1-for-20 reverse stock split effected on April 23, 2026.

To cover tax obligations from the RSU vesting, 495 common shares were relinquished back to the company at a reference price of $5.50 per share, with no shares sold on the open market. Some shares are held indirectly through her spouse, and she disclaims beneficial ownership beyond any pecuniary interest.

Insider Trade Summary

1,666 shares exercised/converted

Mixed 6 txns

Insider Stiefel Jennifer D H

Role President & Secretary

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	208	$0.00	--
Exercise	Restricted Stock Units	1,458	$0.00	--
Exercise	Common Stock	208	$0.00	--
Tax Withholding	Common Stock	62	$5.50	$341.00
Exercise	Common Stock	1,458	$0.00	--
Tax Withholding	Common Stock	433	$5.50	$2K

Holdings After Transaction: Restricted Stock Units — 625 shares (Direct, null); Restricted Stock Units — 4,375 shares (Indirect, By Spouse); Common Stock — 1,319 shares (Direct, null); Common Stock — 4,316 shares (Indirect, By Spouse)

Footnotes (1)

All share amounts in this Form 4 reflect a 1-for-20 reverse stock split effected on April 23, 2026. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the issuer's common stock. The reporting person relinquished the shares of Common Stock reported herein and the issuer cancelled such shares and returned them to issuer's treasury in exchange for remitting certain tax withholding obligations of the reporting person resulting from the vesting of the RSUs. As such, no shares of the issuer were sold by the reporting person. Represents the per share closing price of the issuer's Common Stock on the applicable vesting date or, if there was no closing price on such date, the closing price on the trading date that was immediately prior to such vesting date. These securities are held by Justin B. Stiefel, the spouse of the reporting person. For purposes of Section 16 of the Exchange Act, the reporting person disclaims beneficial ownership of any such securities, except to the extent of her pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of such securities for purposes of Section 16 or otherwise. The RSUs vest over an eighteen (18) month period beginning September 1, 2025, with six (6) months of service-based vesting deemed satisfied as of February 2, 2026, and the remaining units vesting in equal installments May 2, 2026, August 2, 2026, November 2, 2026, and February 2, 2027, subject to continued service.

Key Figures

RSUs converted: 1,666 shares Tax withholding shares: 495 shares Reference share price: $5.50 per share +5 more

8 metrics

RSUs converted 1,666 shares Restricted stock units converting into common stock on May 2, 2026

Tax withholding shares 495 shares Shares relinquished to cover tax obligations from RSU vesting

Reference share price $5.50 per share Per share closing price used for tax-withholding valuation

Reverse stock split ratio 1-for-20 Reverse split effective April 23, 2026, applied to all share amounts

Direct common shares after transaction 1,319 shares Total direct common stock holdings following May 2, 2026 activity

Indirect common shares after transaction 4,316 shares Total indirect common stock holdings through spouse after transactions

Indirect RSU balance 4,375 units Indirect RSUs held through spouse after the reported vesting event

Direct RSU balance 625 units Direct RSUs remaining after vesting on May 2, 2026

Key Terms

1-for-20 reverse stock split, restricted stock unit ("RSU"), tax withholding obligations, returned them to issuer's treasury, +2 more

6 terms

1-for-20 reverse stock split financial

"reflect a 1-for-20 reverse stock split effected on April 23, 2026"

restricted stock unit ("RSU") financial

"Each restricted stock unit ("RSU") represents a contingent right to receive one share"

tax withholding obligations financial

"in exchange for remitting certain tax withholding obligations of the reporting person"

returned them to issuer's treasury financial

"issuer cancelled such shares and returned them to issuer's treasury"

pecuniary interest financial

"disclaims beneficial ownership ... except to the extent of her pecuniary interest"

Section 16 of the Exchange Act regulatory

"For purposes of Section 16 of the Exchange Act, the reporting person disclaims"

Form 4 Insider Transactions: What Each Field Means →

05/05/2026 - 07:23 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^*

Stiefel Jennifer D H

(Last)

(First)

(Middle)

C/O IP STRATEGY HOLDINGS, INC.

9668 BUJACICH ROAD

(Street)

GIG HARBOR

WASHINGTON

98332

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
IP STRATEGY HOLDINGS, INC. [ IPST ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/02/2026

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)

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)
Common Stock	05/02/2026		M		208⁽¹⁾	A	⁽²⁾	1,319	D
Common Stock	05/02/2026		F		62⁽³⁾	D	$5.5⁽⁴⁾	1,257	D
Common Stock	05/02/2026		M		1,458	A	⁽²⁾	4,316	I	By Spouse⁽⁵⁾
Common Stock	05/02/2026		F		433⁽³⁾	D	$5.5⁽⁴⁾	3,883	I	By Spouse⁽⁵⁾

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)
Restricted Stock Units	⁽²⁾	05/02/2026		M			208⁽¹⁾	⁽⁶⁾	⁽⁶⁾	Common Stock	208	$0	625	D
Restricted Stock Units	⁽²⁾	05/02/2026		M			1,458	⁽⁶⁾	⁽⁶⁾	Common Stock	1,458	$0	4,375	I	By Spouse⁽⁵⁾

Explanation of Responses:

1. All share amounts in this Form 4 reflect a 1-for-20 reverse stock split effected on April 23, 2026.

2. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the issuer's common stock.

3. The reporting person relinquished the shares of Common Stock reported herein and the issuer cancelled such shares and returned them to issuer's treasury in exchange for remitting certain tax withholding obligations of the reporting person resulting from the vesting of the RSUs. As such, no shares of the issuer were sold by the reporting person.

4. Represents the per share closing price of the issuer's Common Stock on the applicable vesting date or, if there was no closing price on such date, the closing price on the trading date that was immediately prior to such vesting date.

5. These securities are held by Justin B. Stiefel, the spouse of the reporting person. For purposes of Section 16 of the Exchange Act, the reporting person disclaims beneficial ownership of any such securities, except to the extent of her pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

6. The RSUs vest over an eighteen (18) month period beginning September 1, 2025, with six (6) months of service-based vesting deemed satisfied as of February 2, 2026, and the remaining units vesting in equal installments May 2, 2026, August 2, 2026, November 2, 2026, and February 2, 2027, subject to continued service.

Remarks:

	/s/ Justin B. Stiefel, attorney-in-fact for Jennifer D.H. Stiefel	05/05/2026
	** 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 transactions did CASK's Jennifer Stiefel report in this Form 4?

Jennifer D. H. Stiefel reported RSU vesting and related share movements. 1,666 restricted stock units converted into common shares, and 495 shares were relinquished back to the issuer to satisfy tax withholding obligations, with no open-market sales by the reporting person.

Were any CASK (IP STRATEGY HOLDINGS) shares sold on the market?

No open-market sales occurred. Shares labeled with code “F” were relinquished to the company to cover tax withholding arising from RSU vesting, and were cancelled and returned to treasury, rather than being sold into the market by the reporting person.

How many restricted stock units vested for CASK’s Jennifer Stiefel?

A total of 1,666 restricted stock units vested and converted into common shares. This consists of 1,458 RSUs held indirectly through her spouse and 208 RSUs held directly, each RSU representing a contingent right to receive one common share of the issuer.

What is the vesting schedule for CASK’s reported restricted stock units?

The RSUs vest over an eighteen-month period beginning September 1, 2025. Six months of service-based vesting were deemed satisfied as of February 2, 2026, with remaining units vesting on May 2, 2026, August 2, 2026, November 2, 2026, and February 2, 2027.

Why are some CASK shares attributed to Jennifer Stiefel’s spouse?

Certain securities are held by her spouse, Justin B. Stiefel. The filing states she disclaims beneficial ownership of those shares except to the extent of any pecuniary interest, clarifying they are spouse-held while still being reportable under Section 16 rules.