Mentor Capital (MNTR) CEO adds 1,600 shares and holds major convertibles

Rhea-AI Filing Summary

Mentor Capital, Inc. Chief Executive Officer and 10% owner Chester Billingsley reported open-market purchases of the company’s Common Stock. He bought 900 shares at $0.0833 per share on March 16, 2026 and 700 shares at $0.0839 per share on March 18, 2026, bringing his direct Common Stock holdings to 3,193,996 shares.

He also reports direct holdings of Series D Warrants exercisable at $0.0200 per share for 47,274 underlying Common shares, expiring on May 11, 2038, and Series Q Preferred Shares convertible into 2,592,159 Common shares at no additional cost. The Series Q Preferred Shares have no expiration date and are convertible according to a quarterly calculated conversion value and a conversion price based on 105% of the Common Stock closing price.

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

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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^*

Billingsley Chester

(Last) (First) (Middle)

5964 CAMPUS COURT

(Street)

PLANO TEXAS 75093

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Mentor Capital, Inc. [ MNTR ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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 Stock	03/16/2026		P		900	A	$0.0833	3,193,296	D
Common Stock	03/18/2026		P		700	A	$0.0839	3,193,996	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
Series D Warrants	$0.02							04/11/2000	05/11/2038	Common Stock	47,274		47,274	D
Series Q Preferred Shares	(1)							(1)	(1)	Common Stock	2,592,159(2)		11(2)	D

Explanation of Responses:

1. Series Q Preferred Stock is convertible into Common Stock, at the option of the holder, at any time after the date of issuance of such share and prior to the of redemption of such share of Series Q Preferred Stock by the Company, into such number of fully paid and nonassessable shares of Common Stock as determined by dividing the Series Q Conversion Value by the Conversion Price at the time in effect for such share. The Series Q Preferred Shares can be converted into Common Stock at no additional cost. The Series Q Preferred Shares have no expiration date.

2. The per share Series Q Conversion Value, as defined in the Certificate of Designation, shall be calculated by the Company at least once each calendar quarter. The per share Series Q Conversion Value shall be equal to the quotient of the Core Q Holdings Asset Value divided by the number of issued and outstanding shares of Series Q Preferred Stock. The Conversion Price of the Series Q Preferred Stock shall be at the product of one hundred and five percent and the closing price of the Common Stock of the Company on a date designated and published by the Company. On December 31, 2025, 11 Series Q Convertible Preferred Shares were eligible to be converted into 2,592,159 shares of the Company's Common Stock.

	/s/ Chester Billingsley	03/18/2026
	** 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)

FAQ

What insider transactions did Mentor Capital (MNTR) report on this Form 4?

The Form 4 reports that CEO and 10% owner Chester Billingsley made two open-market purchases of Mentor Capital Common Stock. These buys occurred on March 16 and March 18, 2026, and modestly increased his direct share ownership in the company.

How many Mentor Capital (MNTR) shares did the CEO buy and at what prices?

Chester Billingsley purchased 900 shares of Mentor Capital Common Stock at $0.0833 per share and 700 shares at $0.0839 per share. Both transactions were classified as open-market purchases, slightly increasing his direct equity stake in the company.

What is Chester Billingsley’s total direct Common Stock holding after these MNTR trades?

After the reported open-market purchases, Chester Billingsley directly holds 3,193,996 shares of Mentor Capital Common Stock. This figure reflects his position following the March 18, 2026 transaction and demonstrates a substantial continuing ownership interest in the company’s equity.

What Series D Warrants linked to Mentor Capital (MNTR) does the CEO hold?

The filing shows Chester Billingsley directly holds Series D Warrants exercisable into 47,274 shares of Mentor Capital Common Stock at an exercise price of $0.0200 per share. These warrants have an expiration date of May 11, 2038, providing long-dated optional exposure.

How are Mentor Capital’s Series Q Preferred Shares convertible into Common Stock?

Series Q Preferred Shares are convertible into Common Stock at no additional cost, based on a Series Q Conversion Value divided by a conversion price equal to 105% of the Common Stock closing price. As of December 31, 2025, 11 Series Q shares were convertible into 2,592,159 Common shares.

Do Mentor Capital (MNTR) Series Q Preferred Shares have an expiration date?

The Series Q Preferred Shares reported do not have an expiration date. They are convertible into fully paid and nonassessable Common Stock at the holder’s option, subject to the conversion value and conversion price formulas that the company calculates at least once each calendar quarter.