IRSA CFO exercises warrants for 174,198 shares

IRSA Investments & Representations Inc CFO Matias Ivan Gaivironsky exercised warrants to acquire additional common shares.

Rhea-AI Filing Summary

IRSA Investments & Representations Inc CFO Matias Ivan Gaivironsky exercised warrants to acquire additional common shares. On 2026-05-12, he exercised derivative securities that resulted in receiving 174,198 Common Shares through a net, cashless exercise of 130,018 warrants, as described in the footnote.

Following these transactions, his direct holdings in Common Shares increased to 403,985 shares. The filing shows only acquisitions via derivative exercises, with no reported open‑market sales, and all exercised warrants in this filing were fully converted with none remaining outstanding.

Insider Trade Summary

130,018 shares exercised/converted

Exercise 2 txns

Insider Gaivironsky Matias Ivan

Role CFO

Type	Security	Shares	Price	Value
In-the-Money Exercise	warrants	130,018	$0.00	$0.00
Exercise	Common Shares	174,198	$0.00	$0.00

Holdings After Transaction: warrants — 0 contracts (Direct); Common Shares — 403,985 shares (Direct)

Footnotes (1)

1. F1. The warrants were exerciced at Net Exercise with Par Value Contribution (cashless) modality. Each warrant gave the right to receive 1,3398 ordinary shares.

Key Figures

Common shares acquired: 174,198 shares Warrants exercised: 130,018 warrants Shares owned after transaction: 403,985 shares +2 more

5 metrics

Common shares acquired 174,198 shares Received from warrant exercises on 2026-05-12

Warrants exercised 130,018 warrants Exercised as derivative transaction code X on 2026-05-12

Shares owned after transaction 403,985 shares Total direct Common Shares following reported transactions

Exercise price per share $0.0000 Net Exercise with Par Value Contribution (cashless) modality

Remaining warrants 0 warrants Total warrants following transaction reported as 0.0000

Key Terms

Net Exercise with Par Value Contribution (cashless), in-the-money derivative exercise, Common Shares, warrants, +1 more

5 terms

Net Exercise with Par Value Contribution (cashless) financial

"The warrants were exerciced at Net Exercise with Par Value Contribution (cashless) modality."

in-the-money derivative exercise financial

"transaction_action: "in-the-money derivative exercise" for the warrants transaction."

Common Shares financial

"security_title: "Common Shares" for the non-derivative transaction."

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

warrants financial

"security_title: "warrants" with underlying security title "common shares"."

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security" for code M."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did IRS CFO Matias Ivan Gaivironsky report on this Form 4?

He reported exercising derivative securities to acquire common shares of IRSA Investments & Representations Inc. The transactions involved exercising warrants and converting them into ordinary shares, increasing his direct ownership without any reported open‑market purchases or sales.

How many IRSA (IRS) common shares did the CFO acquire in this Form 4 filing?

The CFO acquired 174,198 Common Shares as a result of exercising warrants. These shares were received through a net, cashless exercise structure, where derivative securities were converted into ordinary shares rather than bought for cash in the open market.

How many warrants did the IRSA CFO exercise according to this Form 4?

He exercised 130,018 warrants linked to IRSA ordinary shares. The footnote explains the warrants were exercised under a Net Exercise with Par Value Contribution (cashless) modality, meaning the value of the warrants was applied to receive shares without a separate cash payment.

What is the CFO’s IRSA common share ownership after these transactions?

After the reported transactions, the CFO directly owns 403,985 Common Shares of IRSA Investments & Representations Inc. This figure reflects his position following the warrant exercises and resulting share issuances disclosed in the Form 4 filing for the specified date.

Were any IRSA (IRS) shares sold in the CFO’s Form 4 transactions?

No sales were reported in this Form 4. All disclosed transactions are classified as exercises or conversions of derivative securities into common shares, with transaction codes M and X and transaction_direction marked as acquire, indicating no open‑market dispositions in this filing.

How were the IRSA warrants exercised by the CFO in this Form 4?

The warrants were exercised using a Net Exercise with Par Value Contribution (cashless) modality. According to the footnote, each warrant entitled the holder to receive 1.3398 ordinary shares, allowing the CFO to receive shares without a separate cash outlay per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/27/2026 - 03:59 PM EDT Learn about SEC filing dates

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^*

Gaivironsky Matias Ivan

(Last) (First) (Middle)

CARLOS DELLA PAOLERA 261, 9TH FLOOR

(Street)

BUENOS AIRES C1001ADA

(City) (State) (Zip)

ARGENTINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
IRSA INVESTMENTS & REPRESENTATIONS INC [ irs ]

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

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

2a. Foreign Trading Symbol
[IRSA]

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares	05/12/2026		M		174,198	A	(1)	403,985	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
warrants	(1)	05/12/2026		X		130,018		05/12/2026	05/12/2026	common shares	174,198	(1)	0	D

Explanation of Responses:

1. The warrants were exerciced at Net Exercise with Par Value Contribution (cashless) modality. Each warrant gave the right to receive 1,3398 ordinary shares.

	Matias Ivan Gaivironsky	05/27/2026
	** 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)