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[Form 4] Everspin Technologies, Inc Insider Trading Activity

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Bank of Montreal (BMO) is offering auto-callable Market Linked Securities tied to the lowest performing share among Advanced Micro Devices (AMD), Amazon.com (AMZN) and Alphabet Class A (GOOGL). Each security has a $1,000 face amount, will be priced on July 18 2025 and issued on July 23 2025.

Early call feature: if on the July 23 2026 call date the lowest-performing Underlier closes at or above 90 % of its starting value, the notes are automatically redeemed for $1,000 plus a call premium of at least 25.35 %. Investors then forgo all further upside.

At maturity (July 21 2028) if not called:

  • Upside: 200 % participation in any gain of the worst Underlier.
  • Contingent absolute return: if that Underlier ends ≤ its start but ≥ 55 %, holders receive a positive payout equal to the absolute decline (maximum 45 %).
  • Downside: if it finishes below 55 %, investors are fully exposed to the loss and can lose up to 100 % of principal.
The estimated initial value is $969.80 (not less than $919.00) versus the $1,000 offering price, reflecting fees and hedging costs. The notes pay no interest, are unsecured obligations of BMO, will not be listed, and are subject to issuer credit risk and liquidity constraints. Wells Fargo Securities acts as agent, earning up to 2.575 % in commissions; selected dealers may receive an additional 0.30 % fee.

Bank of Montreal (BMO) offre titoli Market Linked auto-richiami legati all’azione con la performance peggiore tra Advanced Micro Devices (AMD), Amazon.com (AMZN) e Alphabet Classe A (GOOGL). Ogni titolo ha un valore nominale di $1.000, sarà quotato il 18 luglio 2025 e emesso il 23 luglio 2025.

Opzione di richiamo anticipato: se alla data di richiamo del 23 luglio 2026 l’azione con la performance peggiore chiude a o sopra il 90% del valore iniziale, le note vengono automaticamente rimborsate a $1.000 più un premio di richiamo di almeno il 25,35%. Gli investitori rinunciano quindi a qualsiasi ulteriore guadagno.

Alla scadenza (21 luglio 2028) se non richiamate:

  • Rendimento positivo: partecipazione al 200% in qualsiasi guadagno dell’azione peggiore.
  • Rendimento assoluto condizionato: se l’azione termina ≤ al valore iniziale ma ≥ 55%, i detentori ricevono un pagamento positivo pari al calo assoluto (massimo 45%).
  • Rischio di perdita: se termina sotto il 55%, gli investitori sono esposti completamente alla perdita, potendo perdere fino al 100% del capitale.
Il valore iniziale stimato è di $969,80 (non inferiore a $919,00) rispetto al prezzo di offerta di $1.000, riflettendo costi di commissione e copertura. Le note non pagano interessi, sono obbligazioni non garantite di BMO, non saranno quotate e sono soggette a rischio di credito dell’emittente e limitazioni di liquidità. Wells Fargo Securities agisce come agente, guadagnando fino al 2,575% in commissioni; alcuni dealer selezionati possono ricevere una commissione aggiuntiva dello 0,30%.

Bank of Montreal (BMO) ofrece valores vinculados al mercado con opción de autocancelación, ligados a la acción con peor desempeño entre Advanced Micro Devices (AMD), Amazon.com (AMZN) y Alphabet Clase A (GOOGL). Cada título tiene un valor nominal de $1,000, se valorará el 18 de julio de 2025 y se emitirá el 23 de julio de 2025.

Opción de llamada anticipada: si en la fecha de llamada del 23 de julio de 2026 la acción con peor desempeño cierra en o por encima del 90% de su valor inicial, las notas se redimen automáticamente por $1,000 más una prima de llamada de al menos el 25.35%. Los inversionistas renuncian a cualquier ganancia adicional.

Al vencimiento (21 de julio de 2028) si no se ejerció la llamada:

  • Ganancia: participación del 200% en cualquier aumento de la acción con peor desempeño.
  • Retorno absoluto contingente: si esa acción termina ≤ su valor inicial pero ≥ 55%, los tenedores reciben un pago positivo igual a la caída absoluta (máximo 45%).
  • Riesgo a la baja: si termina por debajo del 55%, los inversionistas están completamente expuestos a la pérdida y pueden perder hasta el 100% del principal.
El valor inicial estimado es de $969.80 (no menos de $919.00) frente al precio de oferta de $1,000, reflejando costos de comisiones y cobertura. Las notas no pagan intereses, son obligaciones no garantizadas de BMO, no estarán listadas y están sujetas a riesgo crediticio del emisor y restricciones de liquidez. Wells Fargo Securities actúa como agente, ganando hasta un 2.575% en comisiones; algunos distribuidores seleccionados pueden recibir una tarifa adicional del 0.30%.

뱅크 오브 몬트리올(BMO)은 Advanced Micro Devices(AMD), Amazon.com(AMZN), Alphabet Class A(GOOGL) 중 가장 저조한 주가에 연동된 자동 콜 가능 마켓 링크 증권을 제공합니다. 각 증권의 액면가 $1,000이며, 2025년 7월 18일에 가격이 책정되고 2025년 7월 23일에 발행됩니다.

조기 콜 기능: 2026년 7월 23일 콜 날짜에 가장 저조한 기초자산이 시작 가치의 90% 이상으로 마감하면, 노트는 자동으로 $1,000와 최소 25.35%의 콜 프리미엄과 함께 상환됩니다. 투자자는 그 이후의 추가 상승을 포기합니다.

만기(2028년 7월 21일)에 콜되지 않은 경우:

  • 상승 참여: 가장 부진한 기초자산의 상승에 대해 200% 참여.
  • 조건부 절대 수익: 해당 기초자산이 시작가 이하이지만 55% 이상일 경우, 보유자는 최대 45%의 절대 하락분에 상응하는 양의 지급금을 받습니다.
  • 하락 위험: 55% 미만으로 마감하면 투자자는 원금의 최대 100%까지 손실 위험에 완전히 노출됩니다.
추정 초기 가치는 수수료 및 헤지 비용을 반영하여 $1,000 발행가 대비 $969.80(최소 $919.00)입니다. 노트는 이자를 지급하지 않으며, BMO의 무담보 채무이며, 상장되지 않고 발행자 신용 위험과 유동성 제약에 노출됩니다. Wells Fargo Securities가 대리인으로 활동하며 최대 2.575%의 수수료를 받으며, 일부 선정된 딜러는 추가로 0.30%의 수수료를 받을 수 있습니다.

La Banque de Montréal (BMO) propose des titres Market Linked auto-remboursables liés à la performance la plus faible parmi Advanced Micro Devices (AMD), Amazon.com (AMZN) et Alphabet Classe A (GOOGL). Chaque titre a une valeur nominale de 1 000 $, sera valorisé le 18 juillet 2025 et émis le 23 juillet 2025.

Option de remboursement anticipé : si à la date de remboursement du 23 juillet 2026, le sous-jacent le moins performant clôture à au moins 90 % de sa valeur initiale, les notes sont automatiquement remboursées à 1 000 $ plus une prime de remboursement d’au moins 25,35 %. Les investisseurs renoncent alors à tout gain supplémentaire.

À l’échéance (21 juillet 2028) si non remboursées :

  • Potentiel de hausse : participation à 200 % à toute hausse du sous-jacent le moins performant.
  • Rendement absolu conditionnel : si ce sous-jacent termine ≤ à son niveau initial mais ≥ 55 %, les détenteurs reçoivent un paiement positif égal au déclin absolu (maximum 45 %).
  • Risque à la baisse : s’il termine en dessous de 55 %, les investisseurs sont entièrement exposés à la perte et peuvent perdre jusqu’à 100 % du capital.
La valeur initiale estimée est de 969,80 $ (pas moins de 919,00 $) par rapport au prix d’offre de 1 000 $, reflétant les frais et les coûts de couverture. Les notes ne versent pas d’intérêts, sont des obligations non garanties de BMO, ne seront pas cotées et sont soumises au risque de crédit de l’émetteur ainsi qu’à des contraintes de liquidité. Wells Fargo Securities agit en tant qu’agent, percevant jusqu’à 2,575 % de commissions ; certains distributeurs sélectionnés peuvent recevoir une commission supplémentaire de 0,30 %.

Die Bank of Montreal (BMO) bietet auto-kündbare marktgebundene Wertpapiere an, die an die am schlechtesten performende Aktie unter Advanced Micro Devices (AMD), Amazon.com (AMZN) und Alphabet Klasse A (GOOGL) gekoppelt sind. Jedes Wertpapier hat einen Nennwert von 1.000 $, wird am 18. Juli 2025 bepreist und am 23. Juli 2025 ausgegeben.

Frühzeitige Kündigungsoption: Wenn am Kündigungstermin, dem 23. Juli 2026, die am schlechtesten performende Basisaktie bei mindestens 90 % ihres Anfangswerts schließt, werden die Notes automatisch zu 1.000 $ zuzüglich einer Kündigungsprämie von mindestens 25,35 % zurückgezahlt. Anleger verzichten dann auf weitere Kursgewinne.

Bei Fälligkeit (21. Juli 2028), falls nicht gekündigt:

  • Aufwärtspotenzial: 200 % Partizipation an der Wertsteigerung der schlechtesten Basisaktie.
  • Bedingte absolute Rendite: Wenn diese Aktie ≤ Startwert aber ≥ 55 % schließt, erhalten Inhaber eine positive Auszahlung entsprechend dem absoluten Rückgang (maximal 45 %).
  • Abwärtsrisiko: Schließt die Aktie unter 55 %, sind Anleger voll dem Verlust ausgesetzt und können bis zu 100 % ihres Kapitals verlieren.
Der geschätzte Anfangswert beträgt 969,80 $ (nicht weniger als 919,00 $) gegenüber dem Angebotspreis von 1.000 $, was Gebühren und Absicherungskosten widerspiegelt. Die Notes zahlen keine Zinsen, sind unbesicherte Verbindlichkeiten von BMO, werden nicht börslich gehandelt und unterliegen Emittenten-Kreditrisiko sowie Liquiditätsbeschränkungen. Wells Fargo Securities fungiert als Agent und erhält bis zu 2,575 % Provision; ausgewählte Händler können eine zusätzliche Gebühr von 0,30 % erhalten.

Positive
  • 200 % upside participation if notes reach maturity without being called
  • Minimum 25.35 % call premium potentially realized after only one year
  • Contingent absolute return delivers positive payout on declines up to 45 %
Negative
  • Principal at risk below 55 % downside threshold; losses can reach 100 %
  • Upside is capped if the notes are automatically called after one year
  • No periodic interest payments, reducing total return in flat markets
  • Estimated initial value ($969.80) below face, reflecting embedded costs
  • No exchange listing and limited secondary market liquidity
  • Unsecured credit exposure to Bank of Montreal

Insights

TL;DR: High upside leverage but deep principal risk; call feature caps gains after year 1.

The 200 % participation rate and 25 %+ one-year call premium provide attractive headline returns, yet investors face multiple layers of risk. The absolute-return buffer only protects down to a 45 % drop; below that, losses are linear. Because payoff depends solely on the worst performer, cross-correlation among AMD, AMZN and GOOGL increases downside probability. Lack of coupon, wide agent spread and an estimated value 3 % below issue price make carry costly. Absence of exchange listing further limits exit options. Overall, risk/reward skews neutral: strong upside if not called, but probability-weighted outcomes hinge on one-year performance of three volatile tech stocks.

Bank of Montreal (BMO) offre titoli Market Linked auto-richiami legati all’azione con la performance peggiore tra Advanced Micro Devices (AMD), Amazon.com (AMZN) e Alphabet Classe A (GOOGL). Ogni titolo ha un valore nominale di $1.000, sarà quotato il 18 luglio 2025 e emesso il 23 luglio 2025.

Opzione di richiamo anticipato: se alla data di richiamo del 23 luglio 2026 l’azione con la performance peggiore chiude a o sopra il 90% del valore iniziale, le note vengono automaticamente rimborsate a $1.000 più un premio di richiamo di almeno il 25,35%. Gli investitori rinunciano quindi a qualsiasi ulteriore guadagno.

Alla scadenza (21 luglio 2028) se non richiamate:

  • Rendimento positivo: partecipazione al 200% in qualsiasi guadagno dell’azione peggiore.
  • Rendimento assoluto condizionato: se l’azione termina ≤ al valore iniziale ma ≥ 55%, i detentori ricevono un pagamento positivo pari al calo assoluto (massimo 45%).
  • Rischio di perdita: se termina sotto il 55%, gli investitori sono esposti completamente alla perdita, potendo perdere fino al 100% del capitale.
Il valore iniziale stimato è di $969,80 (non inferiore a $919,00) rispetto al prezzo di offerta di $1.000, riflettendo costi di commissione e copertura. Le note non pagano interessi, sono obbligazioni non garantite di BMO, non saranno quotate e sono soggette a rischio di credito dell’emittente e limitazioni di liquidità. Wells Fargo Securities agisce come agente, guadagnando fino al 2,575% in commissioni; alcuni dealer selezionati possono ricevere una commissione aggiuntiva dello 0,30%.

Bank of Montreal (BMO) ofrece valores vinculados al mercado con opción de autocancelación, ligados a la acción con peor desempeño entre Advanced Micro Devices (AMD), Amazon.com (AMZN) y Alphabet Clase A (GOOGL). Cada título tiene un valor nominal de $1,000, se valorará el 18 de julio de 2025 y se emitirá el 23 de julio de 2025.

Opción de llamada anticipada: si en la fecha de llamada del 23 de julio de 2026 la acción con peor desempeño cierra en o por encima del 90% de su valor inicial, las notas se redimen automáticamente por $1,000 más una prima de llamada de al menos el 25.35%. Los inversionistas renuncian a cualquier ganancia adicional.

Al vencimiento (21 de julio de 2028) si no se ejerció la llamada:

  • Ganancia: participación del 200% en cualquier aumento de la acción con peor desempeño.
  • Retorno absoluto contingente: si esa acción termina ≤ su valor inicial pero ≥ 55%, los tenedores reciben un pago positivo igual a la caída absoluta (máximo 45%).
  • Riesgo a la baja: si termina por debajo del 55%, los inversionistas están completamente expuestos a la pérdida y pueden perder hasta el 100% del principal.
El valor inicial estimado es de $969.80 (no menos de $919.00) frente al precio de oferta de $1,000, reflejando costos de comisiones y cobertura. Las notas no pagan intereses, son obligaciones no garantizadas de BMO, no estarán listadas y están sujetas a riesgo crediticio del emisor y restricciones de liquidez. Wells Fargo Securities actúa como agente, ganando hasta un 2.575% en comisiones; algunos distribuidores seleccionados pueden recibir una tarifa adicional del 0.30%.

뱅크 오브 몬트리올(BMO)은 Advanced Micro Devices(AMD), Amazon.com(AMZN), Alphabet Class A(GOOGL) 중 가장 저조한 주가에 연동된 자동 콜 가능 마켓 링크 증권을 제공합니다. 각 증권의 액면가 $1,000이며, 2025년 7월 18일에 가격이 책정되고 2025년 7월 23일에 발행됩니다.

조기 콜 기능: 2026년 7월 23일 콜 날짜에 가장 저조한 기초자산이 시작 가치의 90% 이상으로 마감하면, 노트는 자동으로 $1,000와 최소 25.35%의 콜 프리미엄과 함께 상환됩니다. 투자자는 그 이후의 추가 상승을 포기합니다.

만기(2028년 7월 21일)에 콜되지 않은 경우:

  • 상승 참여: 가장 부진한 기초자산의 상승에 대해 200% 참여.
  • 조건부 절대 수익: 해당 기초자산이 시작가 이하이지만 55% 이상일 경우, 보유자는 최대 45%의 절대 하락분에 상응하는 양의 지급금을 받습니다.
  • 하락 위험: 55% 미만으로 마감하면 투자자는 원금의 최대 100%까지 손실 위험에 완전히 노출됩니다.
추정 초기 가치는 수수료 및 헤지 비용을 반영하여 $1,000 발행가 대비 $969.80(최소 $919.00)입니다. 노트는 이자를 지급하지 않으며, BMO의 무담보 채무이며, 상장되지 않고 발행자 신용 위험과 유동성 제약에 노출됩니다. Wells Fargo Securities가 대리인으로 활동하며 최대 2.575%의 수수료를 받으며, 일부 선정된 딜러는 추가로 0.30%의 수수료를 받을 수 있습니다.

La Banque de Montréal (BMO) propose des titres Market Linked auto-remboursables liés à la performance la plus faible parmi Advanced Micro Devices (AMD), Amazon.com (AMZN) et Alphabet Classe A (GOOGL). Chaque titre a une valeur nominale de 1 000 $, sera valorisé le 18 juillet 2025 et émis le 23 juillet 2025.

Option de remboursement anticipé : si à la date de remboursement du 23 juillet 2026, le sous-jacent le moins performant clôture à au moins 90 % de sa valeur initiale, les notes sont automatiquement remboursées à 1 000 $ plus une prime de remboursement d’au moins 25,35 %. Les investisseurs renoncent alors à tout gain supplémentaire.

À l’échéance (21 juillet 2028) si non remboursées :

  • Potentiel de hausse : participation à 200 % à toute hausse du sous-jacent le moins performant.
  • Rendement absolu conditionnel : si ce sous-jacent termine ≤ à son niveau initial mais ≥ 55 %, les détenteurs reçoivent un paiement positif égal au déclin absolu (maximum 45 %).
  • Risque à la baisse : s’il termine en dessous de 55 %, les investisseurs sont entièrement exposés à la perte et peuvent perdre jusqu’à 100 % du capital.
La valeur initiale estimée est de 969,80 $ (pas moins de 919,00 $) par rapport au prix d’offre de 1 000 $, reflétant les frais et les coûts de couverture. Les notes ne versent pas d’intérêts, sont des obligations non garanties de BMO, ne seront pas cotées et sont soumises au risque de crédit de l’émetteur ainsi qu’à des contraintes de liquidité. Wells Fargo Securities agit en tant qu’agent, percevant jusqu’à 2,575 % de commissions ; certains distributeurs sélectionnés peuvent recevoir une commission supplémentaire de 0,30 %.

Die Bank of Montreal (BMO) bietet auto-kündbare marktgebundene Wertpapiere an, die an die am schlechtesten performende Aktie unter Advanced Micro Devices (AMD), Amazon.com (AMZN) und Alphabet Klasse A (GOOGL) gekoppelt sind. Jedes Wertpapier hat einen Nennwert von 1.000 $, wird am 18. Juli 2025 bepreist und am 23. Juli 2025 ausgegeben.

Frühzeitige Kündigungsoption: Wenn am Kündigungstermin, dem 23. Juli 2026, die am schlechtesten performende Basisaktie bei mindestens 90 % ihres Anfangswerts schließt, werden die Notes automatisch zu 1.000 $ zuzüglich einer Kündigungsprämie von mindestens 25,35 % zurückgezahlt. Anleger verzichten dann auf weitere Kursgewinne.

Bei Fälligkeit (21. Juli 2028), falls nicht gekündigt:

  • Aufwärtspotenzial: 200 % Partizipation an der Wertsteigerung der schlechtesten Basisaktie.
  • Bedingte absolute Rendite: Wenn diese Aktie ≤ Startwert aber ≥ 55 % schließt, erhalten Inhaber eine positive Auszahlung entsprechend dem absoluten Rückgang (maximal 45 %).
  • Abwärtsrisiko: Schließt die Aktie unter 55 %, sind Anleger voll dem Verlust ausgesetzt und können bis zu 100 % ihres Kapitals verlieren.
Der geschätzte Anfangswert beträgt 969,80 $ (nicht weniger als 919,00 $) gegenüber dem Angebotspreis von 1.000 $, was Gebühren und Absicherungskosten widerspiegelt. Die Notes zahlen keine Zinsen, sind unbesicherte Verbindlichkeiten von BMO, werden nicht börslich gehandelt und unterliegen Emittenten-Kreditrisiko sowie Liquiditätsbeschränkungen. Wells Fargo Securities fungiert als Agent und erhält bis zu 2,575 % Provision; ausgewählte Händler können eine zusätzliche Gebühr von 0,30 % erhalten.

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).
X
 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*
Aggarwal Sanjeev
(Last) (First) (Middle)
C/O EVERSPIN TECHNOLOGIES, INC.
5670 W. CHANDLER BOULEVARD, SUITE 130
(Street)
CHANDLER AZ 85226
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
EVERSPIN TECHNOLOGIES INC. [ MRAM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
PRESIDENT AND CEO
3. Date of Earliest Transaction (Month/Day/Year)
07/02/2025
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
Common Stock 07/02/2025 S(1) 17,327 D $6.47 607,706 D
Common Stock 07/03/2025 S(2) 12,677 D $6.82(3) 595,029 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
Explanation of Responses:
1. Shares sold solely to pay taxes due upon the vesting of Restricted Stock Units.
2. The transaction reported by the Reporting Person was effected pursuant to a Rule 10b5-1 trading plan entered into on December 6, 2024.
3. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $6.755 to $7.00 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
/s/ Cesare Suardi, Attorney-in-Fact for Sanjeev Aggarwal 07/07/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

When can the Bank of Montreal Market Linked Securities be called early?

On July 23 2026 if the lowest-performing Underlier closes at or above 90 % of its starting value.

What is the minimum call premium investors may receive?

At least 25.35 % of face value, determined on the July 18 2025 pricing date.

How much upside participation do the securities offer at maturity?

Investors receive 200 % of the gain of the worst-performing Underlier, provided the notes are not called early.

What happens if the worst Underlier falls more than 45 % by maturity?

Holders incur losses on a one-for-one basis below the 55 % downside threshold and could lose the entire principal.

Will the securities pay any interest during the term?

No. The notes do not pay periodic interest; returns are delivered only through the call premium or maturity payment.

Is there an active secondary market for these securities?

The notes will not be listed on any exchange, and BMO does not expect an active trading market to develop.
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Everspin Technol

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