Pineapple Financial (PAPL) director linked to 9,615,385 shares via Injective Foundation

Rhea-AI Filing Summary

Pineapple Financial Inc. reported an initial statement of insider holdings related to director Glenn Kennedy. The filing shows Injective Foundation directly holds 9,615,385 common shares of Pineapple Financial Inc., and this position may be deemed beneficially owned by Mr. Kennedy because, as a director of Injective Foundation, he has investment and dispositive control over these securities. The filing also states that Mr. Kennedy disclaims beneficial ownership, has no pecuniary interest in these shares, and that this disclosure should not be taken as an admission that he is the beneficial owner.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Injective Foundation

(Last) (First) (Middle)

P.O. BOX 144, 3119

9 FORUM LANE, CAMANA BAY

(Street)

GEORGE TOWN, GRAND CAYMAN E9 KY-1-9006

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/30/2025

3. Issuer Name and Ticker or Trading Symbol
Pineapple Financial Inc. [ PAPL ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	9,615,385	D(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The securities reported are held directly by Injective Foundation and may be deemed to be beneficially owned by Glenn Kennedy because Mr. Kennedy, as director of Injective Foundation, has investment and dispositive control of the securities. Mr. Kennedy disclaims beneficial ownership of these securities, has no pecuniary interest in the securities reported, and this form shall not be construed as an admission that he is the beneficial owner of any of the securities reported on this form.

	Injective Foundation, By: /s/ Glenn Kennedy, Director	01/02/2026
	** 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 5 (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).
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FAQ

What insider ownership did Pineapple Financial Inc. (PAPL) disclose for Glenn Kennedy?

The disclosure states that Injective Foundation directly holds 9,615,385 common shares of Pineapple Financial Inc., which may be deemed beneficially owned by director Glenn Kennedy due to his investment and dispositive control.

Does Glenn Kennedy personally own the 9,615,385 Pineapple Financial (PAPL) shares?

The filing explains that the 9,615,385 common shares are held directly by Injective Foundation. Glenn Kennedy is a director of Injective Foundation and has investment and dispositive control, but he disclaims beneficial ownership and states he has no pecuniary interest in these securities.

What is the relationship between Injective Foundation and Pineapple Financial Inc. (PAPL) in this filing?

Injective Foundation is listed as the direct holder of 9,615,385 common shares of Pineapple Financial Inc. The filing ties these holdings to director Glenn Kennedy because of his role at Injective Foundation and his control over the securities.

What role does Glenn Kennedy hold in relation to Pineapple Financial Inc. (PAPL)?

Glenn Kennedy is identified as a director of Pineapple Financial Inc. in the filing. The disclosure concerns securities held by Injective Foundation that may be deemed beneficially owned by him due to his control over those holdings.

Are there any derivative securities reported for Glenn Kennedy in Pineapple Financial (PAPL)?

The section for Derivative Securities Beneficially Owned is included but contains no specific derivative instruments or share amounts, indicating that only common shares are reported in this filing.

What ownership form is indicated for the 9,615,385 Pineapple Financial (PAPL) shares?

In the non-derivative securities table, the 9,615,385 common shares are shown with an ownership form of Direct (D), attributed to Injective Foundation, with an explanatory note about Glenn Kennedy’s control and disclaimer of beneficial ownership.