[Form 4] PSQ Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

PSQ Holdings (PSQH) Director Pilot Davis III reported significant insider transactions on June 18, 2025. The filing reveals multiple holdings and a new restricted stock unit (RSU) grant:

• Acquired 71,429 RSUs that will fully vest on June 18, 2026, subject to continuous service
• Directly owns 147,514 shares of Class A Common Stock
• Indirectly controls substantial holdings through three entities: - Fountain Ripple LLC: 292,153 shares - Fountain Ripple II LLC: 1,377,969 shares - Fountain Ripple III LLC: 511,190 shares

As sole manager of these LLCs, Davis maintains control over approximately 2.33 million shares in total beneficial ownership, while disclaiming beneficial ownership except for his pecuniary interest. This grant indicates continued alignment between the director's and shareholders' interests through long-term equity compensation.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Pilot Davis III

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock, par value $0.0001 per share	71,429	$0.00	--
holding	Class A Common Stock, par value $0.0001 per share	--	--	--
holding	Class A Common Stock, par value $0.0001 per share	--	--	--
holding	Class A Common Stock, par value $0.0001 per share	--	--	--

Holdings After Transaction: Class A Common Stock, par value $0.0001 per share — 147,514 shares (Direct); Class A Common Stock, par value $0.0001 per share — 292,153 shares (Indirect, By Fountain Ripple, LLC)

Footnotes (1)

1. Certain of the securities reported in Column 5 of Table I are restricted stock units ("RSU"). Each RSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, subject to the applicable vesting schedule and conditions of the applicable RSU award and the Issuer's 2023 Stock Incentive Plan. The 71,429 RSUs included in Column 5 of Table I vest in full on June 18, 2026, subject to the reporting person's continuous service to the Issuer. The reporting person is the sole manager of the limited liability company. The reporting person disclaims beneficial ownership of the reported shares except to the extent of his pecuniary interest therein.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 06/23/2025 - 09:55 PM Learn about SEC filing dates

FAQ

How many PSQH shares did Director Pilot Davis III acquire on June 18, 2025?

Director Pilot Davis III acquired 71,429 restricted stock units (RSUs) of PSQH Class A Common Stock on June 18, 2025. These RSUs represent a contingent right to receive an equal number of Class A common shares.

What is the vesting schedule for Pilot Davis III's newly acquired PSQH RSUs?

The 71,429 RSUs will vest in full on June 18, 2026, subject to Pilot Davis III's continuous service to PSQ Holdings, Inc.

How many PSQH shares does Pilot Davis III own indirectly through Fountain Ripple entities?

Pilot Davis III indirectly owns 2,181,312 shares of PSQH Class A Common Stock through three entities: 292,153 shares through Fountain Ripple, LLC; 1,377,969 shares through Fountain Ripple II, LLC; and 511,190 shares through Fountain Ripple III, LLC.

What is the total direct ownership of PSQH shares by Pilot Davis III after the June 18, 2025 transaction?

Following the transaction, Pilot Davis III directly owns 147,514 shares of PSQH Class A Common Stock, which includes the newly granted RSUs.

What was the purchase price of the PSQH RSUs acquired by Pilot Davis III?

The RSUs were granted at $0 cost to Pilot Davis III as part of the company's 2023 Stock Incentive Plan.

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^*

Pilot Davis III

(Last) (First) (Middle)

C/O PSQ HOLDINGS, INC.

313 DATURA STREET, SUITE 200

(Street)

WEST PALM BEACH FL 33401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PSQ Holdings, Inc. [ PSQH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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
Class A Common Stock, par value $0.0001 per share	06/18/2025		A		71,429	A	$0	147,514(1)	D
Class A Common Stock, par value $0.0001 per share								292,153	I	By Fountain Ripple, LLC(2)
Class A Common Stock, par value $0.0001 per share								1,377,969	I	By Fountain Ripple II, LLC(2)
Class A Common Stock, par value $0.0001 per share								511,190	I	By Fountain Ripple III, LLC(2)

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

Explanation of Responses:

1. Certain of the securities reported in Column 5 of Table I are restricted stock units ("RSU"). Each RSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, subject to the applicable vesting schedule and conditions of the applicable RSU award and the Issuer's 2023 Stock Incentive Plan. The 71,429 RSUs included in Column 5 of Table I vest in full on June 18, 2026, subject to the reporting person's continuous service to the Issuer.

2. The reporting person is the sole manager of the limited liability company. The reporting person disclaims beneficial ownership of the reported shares except to the extent of his pecuniary interest therein.

	/s/ Davis Pilot III	06/23/2025
	** 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.