Polar Power director disposes 847K-share derivatives
A Polar Power director reported the indirect transfer of all reported derivative positions through an affiliated entity to a third party for cash consideration.
Rhea-AI Filing Summary
Polar Power, Inc. (symbol: POLA) is the issuer of record for a Form 4 filing submitted to the SEC. Shalom Menachem reported reported sale transactions in this Form 4 filing.
Polar Power, Inc. (POLA) insider Shalom Menachem reported indirect dispositions of all of his reported derivative interests related to Polar Power on September 2, 2026. Securities held by Mayers Ventures LLC, for which he may be deemed to have voting and dispositive power, were transferred to Mandragola Ltd. under a Securities Assignment and Assumption Agreement. After the transactions, the reported holdings of the Convertible Note and the Common Stock Purchase Warrant are 0.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 847,730 shares
Net Sell
2 txns
Insider
Shalom Menachem
Role
Director
Sold
847,730 shs
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Convertible Note F1, F2, F3 | 763,889 | -- | -- |
| Sale | Common Stock Purchase Warrant F2, F3 | 83,841 | -- | -- |
Holdings After Transaction:
Convertible Note — 0 contracts (Indirect, See Footnote);
Common Stock Purchase Warrant — 0 contracts (Indirect, See Footnote)
Footnotes (3)
- F1. The maximum number of shares issuable upon conversion of the Convertible Note is 763,889 shares of the issuer's common stock, par value $0.0001 per share (the "Common Stock"). The conversion price equals 90% of the lowest daily VWAP of the issuer's Common Stock in the 7 trading days ending on the date of the delivery of the applicable conversion notice, subject to a floor price while the Common Stock is listed on the trading market. The figure of 763,889 assumes that the Convertible Note converts at the floor price set forth in the Convertible Note. The exact number of shares that may be issued is not currently determinable because the applicable conversion prices are variable and are determined by reference to the market price of the Common Stock at the time of conversion.
- F2. On September 2, 2026, Mayers Ventures LLC ("Mayers") and Mandragola Ltd. (the "Assignee") entered into a Securities Assignment and Assumption Agreement pursuant to which Mayers assigned to the Assignee (i) the Convertible Note issued to Mayers by the issuer on June 30, 2026 and (ii) the Common Stock Purchase Warrant issued to Mayers by the issuer on July 21, 2026, for an aggregate purchase price of $325,000.
- F3. Consists of securities held by Mayers and may be deemed to be indirectly beneficially owned by Menny Shalom, who may be deemed to have sole voting and dispositive power with respect to the shares held by Mayers. Mr. Shalom disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
Key Figures
Convertible Note underlying shares: 763,889 shares
Warrant underlying shares: 83,841 shares
Aggregate purchase price: $325,000
+3 more
6 metrics
Convertible Note underlying shares
763,889 shares
Maximum shares issuable upon conversion of the Convertible Note
Warrant underlying shares
83,841 shares
Common Stock Purchase Warrant for Polar Power common stock
Aggregate purchase price
$325,000
Paid by Mandragola Ltd. to acquire the Convertible Note and Warrant
Warrant exercise price
$1.64 per share
Exercise price of the Common Stock Purchase Warrant
Convertible Note conversion pricing
90% of lowest daily VWAP over 7 trading days
Formula for determining conversion price, subject to a floor price
Net derivative shares disposed
847,730 shares
Total underlying shares for all derivative dispositions reported
Key Terms
Convertible Note, Common Stock Purchase Warrant, VWAP, Securities Assignment and Assumption Agreement, +1 more
5 terms
Convertible Note financial
"The maximum number of shares issuable upon conversion of the Convertible Note is 763,889"
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.
Common Stock Purchase Warrant financial
"the Common Stock Purchase Warrant issued to Mayers by the issuer on July 21, 2026"
A common stock purchase warrant is a tradable certificate that gives its holder the right to buy a company’s common shares at a fixed price for a set period. Think of it as a coupon that lets you buy stock later at today’s agreed price; it can amplify gains if the share price rises but also can increase the total number of shares outstanding, which may reduce existing owners’ percentage of the company. Investors watch warrants because they offer leveraged upside and can affect future share value and ownership.
VWAP financial
"The conversion price equals 90% of the lowest daily VWAP of the issuer's Common Stock"
VWAP, or Volume-Weighted Average Price, is a way to find the average price of a stock throughout the trading day, giving more importance to times when more shares are traded. It helps traders see the typical price and decide whether a stock is expensive or cheap compared to its average, similar to finding the average speed during a trip by giving more weight to times when you traveled faster or slower.
Securities Assignment and Assumption Agreement financial
"entered into a Securities Assignment and Assumption Agreement pursuant to which Mayers assigned"
beneficial ownership financial
"may be deemed to be indirectly beneficially owned by Menny Shalom"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did POLA director Shalom Menachem report on September 2, 2026?
He reported indirect dispositions of a Convertible Note linked to up to 763,889 Polar Power common shares and a Common Stock Purchase Warrant for 83,841 shares, both previously held by Mayers Ventures LLC and assigned to Mandragola Ltd.
What are the key terms of the POLA Convertible Note referenced in the Form 4?
The Convertible Note may be converted into a maximum of 763,889 Polar Power common shares, with a conversion price equal to 90% of the lowest daily VWAP over 7 trading days, subject to a floor price while the stock is listed on the trading market.
What is the exercise price and term of the POLA Common Stock Purchase Warrant in this filing?
The Common Stock Purchase Warrant is exercisable for 83,841 Polar Power common shares at an exercise price of $1.64 per share, with an exercise date of July 21, 2026 and an expiration date of July 21, 2029.
Does the POLA insider retain beneficial ownership after these derivative dispositions?
The filing states the securities are held by Mayers Ventures LLC and may be deemed indirectly beneficially owned by Mr. Shalom, but he disclaims beneficial ownership of the reported shares except to the extent of any pecuniary interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
