[Form 4] MIND TECHNOLOGY, INC Insider Trading Activity

Rhea-AI Filing Summary

MIND Technology, Inc. reported a Form 4 disclosing that director Alan P. Baden was granted an option to purchase 30,000 shares of common stock with an exercise price of $8.64. The option was issued on 10/06/2025, is exercisable immediately in form of a listed award, and expires on 10/06/2035. Vesting is staggered: one-third vests on 10/06/2026, one-third on 10/06/2027, and the final third on 10/06/202810/08/2025 by an attorney-in-fact, indicating standard insider disclosure of equity compensation to a director.

Positive

• 30,000 options granted to a director suggests alignment of interests with shareholders
• Vesting schedule over three years supports retention through 10/06/2028

Negative

• Exercise price is fixed at $8.64, creating potential dilution if exercised
• Options expire on 10/06/2035, so value depends on future stock performance

Insights

Corporate Governance Analyst

Director awarded time‑based options aligning incentives with multi‑year retention.

The grant of 30,000 options at an exercise price of $8.64 with a ten‑year term is a conventional equity compensation vehicle to align a director's interests with shareholders over the long term. The staggered vesting schedule across 2026–2028 links realized gain to continued service.

Key dependencies include the company stock performance relative to the $8.64 strike and the director's continued service through each vesting date; the grant itself does not alter outstanding share count until options are exercised. Monitor option exercises and any subsequent filings for dilution and timing within the next 2026–2028.

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^*

Baden Alan Perry

(Last) (First) (Middle)

2635 SUTTON COURT

(Street)

HOUSTON TX 77027

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MIND TECHNOLOGY, INC [ MIND ]

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)
10/06/2025

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

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
Option to Purchase Common Stock	$8.64	10/06/2025		A		30,000		(1)	10/06/2035	MII Common Stock	30,000	$8.64	30,000	D

Explanation of Responses:

1. Options vest 1/3 on October 6, 2026, 1/3 on October 6, 2027 and 1/3 October 6, 2028.

	/s/ Robert P. Capps, Attorney- in-Fact for Alan P. Baden	10/08/2025
	** 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 MIND (MIND) disclose in this Form 4?

The company reported a director grant: 30,000 option shares at an exercise price of $8.64, dated 10/06/2025, expiring 10/06/2035.

When do the options granted to Alan P. Baden vest?

Options vest in three equal tranches: 10/06/2026, 10/06/2027, and 10/06/2028.

Who filed the Form 4 for Alan P. Baden and when?

The Form 4 was signed by Robert P. Capps, Attorney‑in‑Fact for Alan P. Baden and dated 10/08/2025.

What is the exercise price and term of the option?

The option exercise price is $8.64 per share and the expiration date is 10/06/2035.

Does this Form 4 report any exercised or sold securities?

No; the filing reports an option grant (acquisition) of 30,000 options and does not show any dispositions or exercises.