Polar Power co-CEO Mayer reports indirect holdings
Polar Power, Inc. reports that Co-Chief Executive Officer and director Christopher Jay Mayer may be deemed to beneficially own securities held directly by CL Investment Group LLC, in which he has a one-half economic interest.
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Form Type
3
Rhea-AI Filing Summary
Polar Power, Inc. reports that Co-Chief Executive Officer and director Christopher Jay Mayer may be deemed to beneficially own securities held directly by CL Investment Group LLC, in which he has a one-half economic interest. The LLC holds Series A Convertible Preferred Stock convertible into 2,469,705 shares, warrants exercisable for 227,182 shares at $1.65 and expiring July 29, 2029, and an $82,500 convertible note convertible into 82,500 shares. Mayer disclaims beneficial ownership except to the extent of his pecuniary interest.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Mayer Christopher Jay
Role
Co-Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock Purchase Warrants F1, F2 | -- | -- | -- |
| holding | Series A Convertible Preferred Stock F1 | -- | -- | -- |
Holdings After Transaction:
Common Stock Purchase Warrants — 227,182 contracts (Indirect, By CL Investment Group LLC);
Series A Convertible Preferred Stock — 2,469,705 shares (Indirect, By CL Investment Group LLC)
Footnotes (2)
- F1. Held directly by CL Investment Group LLC ("CL Investment"): (i) Series A Convertible Preferred Stock ("Series A Preferred") convertible into 2,469,705 shares of Common Stock, (ii) Common Stock Purchase Warrants ("Warrants") exercisable for 227,182 shares, and (iii) an $82,500 convertible note ("CL Note") convertible into 82,500 shares. The Reporting Person holds a one-half economic interest in CL Investment and may be deemed to beneficially own its securities; his pecuniary interest is approximately 1,234,853, 113,591 and 41,250 shares underlying the Series A Preferred, Warrants and CL Note, respectively. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest, and this report is not an admission of beneficial ownership for Section 16 or any other purpose.
- F2. Shares issuable upon exercise of the Warrants. See footnote 1.
Key Figures
Series A Preferred conversion shares: 2,469,705 shares
Warrant underlying shares: 227,182 shares
Warrant exercise price: $1.65 per share
+5 more
8 metrics
Series A Preferred conversion shares
2,469,705 shares
Common Stock shares into which the preferred stock held by CL Investment Group LLC is convertible
Warrant underlying shares
227,182 shares
Shares exercisable under warrants held by CL Investment Group LLC
Warrant exercise price
$1.65 per share
Exercise price for the Common Stock Purchase Warrants
Convertible note
$82,500
CL Note held by CL Investment Group LLC
CL Note conversion shares
82,500 shares
Shares into which the CL Note is convertible
Pecuniary interest in Series A Preferred underlying shares
approximately 1,234,853 shares
Mayer's stated pecuniary interest
Pecuniary interest in warrant underlying shares
approximately 113,591 shares
Mayer's stated pecuniary interest
Pecuniary interest in CL Note underlying shares
approximately 41,250 shares
Mayer's stated pecuniary interest
Key Terms
Series A Convertible Preferred Stock, Common Stock Purchase Warrants, pecuniary interest, beneficial ownership, +1 more
5 terms
Series A Convertible Preferred Stock financial
"Series A Convertible Preferred Stock convertible into 2,469,705 shares of Common Stock"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
Common Stock Purchase Warrants financial
"Common Stock Purchase Warrants exercisable for 227,182 shares"
Common stock purchase warrants are tradable instruments that give the holder the right to buy a company’s common shares at a set price before a specified date, like a coupon that lets you purchase stock later at a fixed rate. They matter to investors because they offer a way to gain future upside if the stock rises, but when exercised they increase the number of shares outstanding and can reduce existing shareholders’ ownership and earnings per share.
pecuniary interest financial
"pecuniary interest is approximately 1,234,853 shares"
beneficial ownership financial
"disclaims beneficial ownership except to the extent of his pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
convertible note financial
"$82,500 convertible note convertible into 82,500 shares"
A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What pecuniary interest does the POLA co-CEO report?
Christopher Jay Mayer's approximate pecuniary interests are 1,234,853 shares underlying the Series A Preferred, 113,591 shares underlying the warrants, and 41,250 shares underlying the CL Note.
AI-generated analysis. How Rhea-AI works. Not financial advice.
