PSQ Holdings (NYSE: PSQH) grants 125,000-share RSU award to director Pilot Davis III

Rhea-AI Filing Summary

Pilot Davis III reported acquisition or exercise transactions in this Form 4 filing.

PSQ Holdings, Inc. director Pilot Davis III reported an equity compensation grant of 125,000 shares of Class A common stock at $0.0000 per share, characterized as unvested restricted stock units that are scheduled to vest on July 9, 2027, subject to his continuous service. Following this award, he holds 272,514 shares directly, including RSUs, and additional indirect interests through Fountain Ripple entities, for which he disclaims beneficial ownership beyond his pecuniary interest.

Insights

Equity Compensation Analyst

Director received a time-based RSU grant; no open-market trading occurred.

Director Pilot Davis III received an equity award of 125,000 shares of Class A common stock at $0.0000 per share, described as unvested restricted stock units. These RSUs are scheduled to vest on July 9, 2027, conditioned on his continuous service to PSQ Holdings, Inc..

The filing also shows 272,514 shares held directly after the grant, including RSUs under the Amended and Restated 2023 Stock Incentive Plan, and larger indirect holdings via Fountain Ripple entities. A footnote states he disclaims beneficial ownership of those indirect shares beyond his pecuniary interest, indicating they are primarily entity-level positions rather than personal trading. With no open-market buys or sells reported, this looks like routine director compensation rather than a directional signal.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Pilot Davis III

Role null

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock, par value $0.0001 per share	125,000	$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 — 272,514 shares (Direct, null); Class A Common Stock, par value $0.0001 per share — 292,153 shares (Indirect, By Fountain Ripple, LLC)

Footnotes (1)

1. Represents unvested restricted stock units ("RSUs"), which will vest on July 9, 2027, subject to the reporting person's continuous service to the issuer. Certain of the securities reported in Column 5 of Table I are restricted stock units RSUs. 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 Amended and Restated 2023 Stock Incentive Plan. 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.

Key Figures

RSU grant size: 125,000 shares Grant price: $0.0000 per share Direct holdings after grant: 272,514 shares +3 more

6 metrics

RSU grant size 125,000 shares Grant/award acquisition of Class A common stock reported for Pilot Davis III

Grant price $0.0000 per share Price per share for the 125,000-share equity award

Direct holdings after grant 272,514 shares Total Class A shares, including RSUs, held directly after the reported award

Indirect holdings via Fountain Ripple III, LLC 511,190 shares Class A shares held indirectly, with beneficial ownership disclaimed beyond pecuniary interest

Indirect holdings via Fountain Ripple II, LLC 1,377,969 shares Class A shares reported as indirectly held through Fountain Ripple II, LLC

Indirect holdings via Fountain Ripple, LLC 292,153 shares Class A shares reported as indirectly held through Fountain Ripple, LLC

Key Terms

restricted stock units, pecuniary interest, Amended and Restated 2023 Stock Incentive Plan

3 terms

restricted stock units financial

"Represents unvested restricted stock units ("RSUs"), which will vest on July 9, 2027"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

pecuniary interest financial

"disclaims beneficial ownership of the reported shares except to the extent of his pecuniary interest"

Amended and Restated 2023 Stock Incentive Plan financial

"subject to the applicable vesting schedule and conditions of the applicable RSU award and the issuer's Amended and Restated 2023 Stock Incentive Plan"

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Available on EDGAR 07/10/2026 - 04:13 PM Accepted by SEC EDGAR 07/10/2026 - 04:12 PM Learn about SEC filing dates

FAQ

What equity award did PSQH director Pilot Davis III receive in this Form 4?

Director Pilot Davis III received a grant of 125,000 shares of PSQ Holdings Class A common stock at $0.0000 per share, reported as unvested restricted stock units awarded as part of his equity compensation.

When do the reported RSUs for PSQH director Pilot Davis III vest?

The unvested RSUs reported for Pilot Davis III will vest on July 9, 2027, provided he maintains continuous service to PSQ Holdings, in line with the award’s stated vesting condition.

How many PSQH shares does Pilot Davis III hold directly after this grant?

After the grant, Pilot Davis III directly holds 272,514 shares of PSQ Holdings Class A common stock, including restricted stock units subject to the issuer’s Amended and Restated 2023 Stock Incentive Plan.

What indirect PSQH holdings are reported for Pilot Davis III in this Form 4?

The Form 4 lists indirect holdings of 511,190 shares via Fountain Ripple III, 1,377,969 shares via Fountain Ripple II, and 292,153 shares via Fountain Ripple, with a disclaimer of beneficial ownership beyond his pecuniary interest.

Does the PSQH Form 4 report any open-market stock purchases or sales by Pilot Davis III?

No open-market purchases or sales are reported. The only transaction is a grant/award acquisition of 125,000 shares as restricted stock units; other entries reflect updated indirect holdings.

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)

515 W. ASPEN STREET

SUITE 200C

(Street)

BOZEMAN MONTANA 59715

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/09/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	07/09/2026		A		125,000(1)	A	$0	272,514(2)	D
Class A Common Stock, par value $0.0001 per share								292,153	I	By Fountain Ripple, LLC(3)
Class A Common Stock, par value $0.0001 per share								1,377,969	I	By Fountain Ripple II, LLC(3)
Class A Common Stock, par value $0.0001 per share								511,190	I	By Fountain Ripple III, LLC(3)

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. Represents unvested restricted stock units ("RSUs"), which will vest on July 9, 2027, subject to the reporting person's continuous service to the issuer.

2. Certain of the securities reported in Column 5 of Table I are restricted stock units RSUs. 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 Amended and Restated 2023 Stock Incentive Plan.

3. 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.

Remarks:

Exhibit List: Exhibit 24-Power of Attorney

	/s/ James Giudice, Attorney-in-Fact for Davis Pilot III	07/10/2026
	** 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.
* Form 4: SEC 1474 (03-26)