PEW CEO Nemati reports RSU vesting, 2,516,667 direct shares

Rhea-AI Filing Summary

GrabAGun Digital Holdings Inc. (PEW) reported insider activity by President and CEO Marc Nemati, who is also a director. On 10/15/2025, 16,667 restricted stock units converted into common stock, increasing his directly held shares to 2,516,667.

On 11/17/2025, a trust associated with him, the Nemati Family Trust U/A DTD 01/22/2024, purchased 100,000 common shares at a weighted average price of $3.8877, bringing its indirect holdings to 120,000 shares. These RSUs are part of a 200,000-unit grant that vests in 12 equal quarterly installments starting October 15, 2025.

Insider Trade Summary

Net Buyer: 100,000 shares ($388,770)

Net Buy 3 txns

Insider Nemati Marc A.

Role President and CEO

Bought 100,000 shs ($389K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	100,000	$3.8877	$389K
Exercise	Restricted Stock Units	16,667	$0.00	--
Exercise	Common Stock	16,667	$0.00	--

Holdings After Transaction: Common Stock — 120,000 shares (Indirect, By Nemati Family Trust U/A DTD 01/22/2024); Restricted Stock Units — 183,333 shares (Direct); Common Stock — 2,516,667 shares (Direct)

Footnotes (1)

1. Restricted stock units convert into common stock on a one-for-one basis. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.85 to $3.9199, inclusive. The Reporting Person undertakes to provide the Issuer and any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, further information regarding the number of shares purchased at each separate price such shares were purchased. Includes 20,000 shares of common stock that were previously reported as a direct purchase by the Reporting Person rather than as a purchase by Nemati Family Trust U/A DTD 01/22/2024. On September 29, 2025, the Reporting Person was granted 200,000 restricted stock units that vest in 12 equal quarterly increments, with the first quarterly increment vesting on October 15, 2025.

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

Nemati Marc A.

(Last) (First) (Middle)

C/O GRABAGUN DIGITAL HOLDINGS INC.

200 EAST BELTLINE ROAD, SUITE 403

(Street)

COPPELL TX 75019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GrabAGun Digital Holdings Inc. [ PEW ]

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)
10/15/2025

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	10/15/2025		M		16,667	A	(1)	2,516,667	D
Common Stock	11/17/2025		P		100,000	A	$3.8877(2)	120,000(3)	I	By Nemati Family Trust U/A DTD 01/22/2024

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
Restricted Stock Units	(1)	10/15/2025		M			16,667	(4)	(4)	Common Stock	16,667	$0	183,333	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.85 to $3.9199, inclusive. The Reporting Person undertakes to provide the Issuer and any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, further information regarding the number of shares purchased at each separate price such shares were purchased.

3. Includes 20,000 shares of common stock that were previously reported as a direct purchase by the Reporting Person rather than as a purchase by Nemati Family Trust U/A DTD 01/22/2024.

4. On September 29, 2025, the Reporting Person was granted 200,000 restricted stock units that vest in 12 equal quarterly increments, with the first quarterly increment vesting on October 15, 2025.

	/s/ Marc Nemati	11/18/2025
	** 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 insider transactions did PEW CEO Marc Nemati report on this Form 4?

Marc Nemati reported two main transactions: on 10/15/2025, 16,667 restricted stock units converted into common stock, and on 11/17/2025 a trust associated with him bought 100,000 common shares.

How many PEW shares does Marc Nemati own directly after these transactions?

Following the 10/15/2025 RSU conversion, Marc Nemati directly beneficially owns 2,516,667 shares of GrabAGun Digital Holdings Inc. common stock.

What is the Nemati Family Trust’s indirect ownership in PEW after the reported trades?

After purchasing 100,000 PEW shares at a weighted average price of $3.8877 on 11/17/2025, the Nemati Family Trust U/A DTD 01/22/2024 beneficially owns 120,000 shares indirectly for Marc Nemati.

What are the terms of Marc Nemati’s restricted stock unit (RSU) grant at PEW?

On 09/29/2025, Marc Nemati was granted 200,000 restricted stock units that vest in 12 equal quarterly increments, with the first 16,667 units vesting on 10/15/2025.

How many PEW restricted stock units remain outstanding for Marc Nemati?

After the conversion of 16,667 RSUs into common stock on 10/15/2025, Marc Nemati continues to beneficially own 183,333 restricted stock units.

At what price were the recently purchased PEW shares acquired by the Nemati Family Trust?

The 100,000 PEW shares were acquired at a weighted average price of $3.8877 per share, with individual trade prices ranging from $3.85 to $3.9199, inclusive.