PEDEVCO (PED) trust converts Series A preferred into common stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PEDEVCO CORP insider SGK 2018 Revocable Trust reported a large automatic stock conversion. On February 27, 2026, 2,801,814 shares of Series A Convertible Preferred Stock held through the trust automatically converted into 28,018,140 shares of common stock at a 10-for-1 ratio, pursuant to the preferred’s terms.
After this derivative conversion, the trust is shown as indirectly holding 79,809,465 common shares. The filing also notes 3,000 common shares held indirectly by the reporting person’s spouse and 8,121,950 common shares held directly. The reporting person disclaims beneficial ownership of these securities except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,801,814 shares exercised/converted
Mixed
4 txns
Insider
KUKES SIMON G, SGK 2018 REVOCABLE TRUST
Role
10% Owner | Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Series A Convertible Preferred Stock | 2,801,814 | $0.00 | -- |
| Exercise | Common Stock | 28,018,140 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A Convertible Preferred Stock — 0 shares (Indirect, Through The SGK 2018 Revocable Trust);
Common Stock — 79,809,465 shares (Indirect, Through The SGK 2018 Revocable Trust);
Common Stock — 8,121,950 shares (Direct)
Footnotes (1)
- On the Automatic Conversion Date (defined below), the Convertible Series A Preferred Stock converted into common stock of the Issuer automatically pursuant to its terms based on a conversion ratio of 10-for-1. Except to the extent of his pecuniary interest therein this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. Convertible Series A Preferred Stock was not convertible until the expiration of the twenty calendar day period (the "Automatic Conversion Date") commencing on the distribution to the Issuer's shareholders in accordance with Rule 14c-2 of Regulation 14C promulgated under the Securities and Exchange Act of 1934, as amended, of an information statement disclosing, among other things, the approval of such conversion and related matters by the majority stockholders of the Issuer which occurred on October 31, 2025, which Automatic Conversion Date was February 27, 2026.
FAQ
What insider transaction did PEDEVCO (PED) report in this Form 4?
The Form 4 reports an automatic conversion of preferred stock into common stock. 2,801,814 Series A Convertible Preferred shares converted into 28,018,140 PEDEVCO common shares, all held through the SGK 2018 Revocable Trust associated with a ten percent owner.
What was the conversion ratio for PEDEVCO’s Series A Convertible Preferred Stock?
The Series A Convertible Preferred Stock converted into common stock at a 10-for-1 ratio. This means each preferred share became ten common shares, resulting in 28,018,140 common shares from 2,801,814 preferred shares when the automatic conversion occurred.
When did the automatic conversion of PEDEVCO’s preferred stock occur?
The automatic conversion took effect on February 27, 2026. That date was defined as the Automatic Conversion Date, occurring after stockholder approval and an information statement distribution under Regulation 14C and Rule 14c-2 requirements.