Quality Industrial (QIND) COO trades 1M QIND shares for Fusion Fuel convertible preferred stock

Rhea-AI Filing Summary

Quality Industrial Corp. COO and Managing Director Middle East Safir Sanjeeb reported two major share transactions involving 1,000,000 QIND common shares. On September 2, 2024, he received 1,000,000 shares as a grant or award, held directly.

On November 26, 2024, he disposed of 1,000,000 QIND shares in a transaction coded as an open-market or private sale. A related agreement shows these shares were transferred to Fusion Fuel Green PLC under a Stock Purchase Agreement, in exchange for 46,314 Series A Convertible Preferred Shares of Fusion Fuel. Each Series A share is automatically convertible, once certain shareholder and Nasdaq listing conditions are met, into ten Fusion Fuel Class A Ordinary Shares. Based on Nasdaq’s last reported price of $4.64 per Fusion Fuel Class A Ordinary Share on November 25, 2024, the QIND shares were effectively valued at about $2.15 per share on an as-converted basis.

Insights

Equity compensation and insider-transactions analyst

COO swapped 1M QIND shares for Fusion Fuel preferred stock in a structured deal.

The reporting person, a senior executive of Quality Industrial Corp., first received 1,000,000 QIND common shares on September 2, 2024 as a grant/award. This is a compensation-related acquisition rather than an open-market purchase.

On November 26, 2024, he disposed of 1,000,000 QIND shares. Footnotes explain this was a transfer to Fusion Fuel Green PLC under a Stock Purchase Agreement, in exchange for 46,314 Series A Convertible Preferred Shares of Fusion Fuel, not a simple cash sale.

The Series A Preferred automatically convert, once specified shareholder and Nasdaq listing conditions are satisfied, into ten Fusion Fuel Class A Ordinary Shares each. Using Nasdaq’s last reported price of $4.64 on November 25, 2024, the QIND shares were effectively valued at about $2.15 per share on an as-converted basis; the actual impact depends on whether the stated conditions for conversion are ultimately met.

Insider Trade Summary

2 transactions reported

Net Sell 2 txns

Insider Safir Sanjeeb

Role COO and Mng Dir Middle East

Sold 1,000,000 shs ($0.00)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,000,000	$0.00	--
Grant/Award	Common Stock	1,000,000	$0.00	--

Holdings After Transaction: Common Stock — 1,000,000 shares (Direct)

Footnotes (1)

1. Pursuant to a Stock Purchase Agreement (the "Purchase Agreement"), dated November 18, 2024, by and among Quality Industrial Corp., a Nevada corporation ("QIND"), Fusion Fuel Green PLC, an Irish public limited company (the "Fusion Fuel"), Ilustrato Pictures International Inc., a Nevada corporation and a stockholder of the Company, and certain other stockholders of the Company including the reporting person, the reporting person transferred 1,000,000 shares of common stock of QIND to Fusion Fuel, and in consideration, Fusion Fuel issued to the reporting person 46,314 shares of Series A Convertible Preferred Shares with a nominal value of $0.0001 each of Fusion Fuel ("Series A Preferred Shares"). The conditions to the closing of the transactions contemplated by the Purchase Agreement were satisfied in all material respects as of November 26, 2024 (the "Closing Date"). The conversion rights under the Series A Preferred Shares remain subject to the satisfaction of certain conditions, including shareholder approval of certain matters and the clearance of an initial listing application by Fusion Fuel with The Nasdaq Stock Market LLC ("Nasdaq"). Upon satisfaction of such conditions, the Series A Preferred Shares will be automatically converted into ten Class A Ordinary Shares with a nominal value of $0.0035 each of Fusion Fuel, subject to adjustment for share dividends and share splits. On November 25, 2024, the last trading day before the Closing Date, the last reported price of a Class A Ordinary Share by Nasdaq was $4.64, prior to adjustment for any subsequent share splits, which effectively resulted in each share of QIND common stock transferred by the reporting person being valued at $2.15 per share on an as-converted basis, without regard to the conditions to conversion.

Key Figures

QIND shares granted: 1,000,000 shares QIND shares disposed: 1,000,000 shares Fusion Fuel Series A Preferred received: 46,314 shares +3 more

6 metrics

QIND shares granted 1,000,000 shares Grant/award on September 2, 2024

QIND shares disposed 1,000,000 shares Disposition on November 26, 2024 under Stock Purchase Agreement

Fusion Fuel Series A Preferred received 46,314 shares Consideration for transfer of 1,000,000 QIND shares

Conversion ratio 10 ordinary shares per preferred share Automatic conversion of Fusion Fuel Series A Preferred

Fusion Fuel share price $4.64 per Class A Ordinary Share Last reported Nasdaq price on November 25, 2024

Implied QIND value $2.15 per share As-converted basis from Fusion Fuel share price

Key Terms

Stock Purchase Agreement, Series A Convertible Preferred Shares, Class A Ordinary Shares, Nasdaq, +1 more

5 terms

Stock Purchase Agreement financial

"Pursuant to a Stock Purchase Agreement (the "Purchase Agreement"), dated November 18, 2024"

A stock purchase agreement is a legal contract that sets the terms for buying or selling shares, specifying the price, number of shares, how payment is made, and any conditions or promises each side must meet. It matters to investors because it defines who owns what, when ownership changes, and what protections or obligations attach to the deal—think of it as a detailed receipt plus the house rules that determine the financial risks and benefits of the transaction.

Series A Convertible Preferred Shares financial

"Fusion Fuel issued to the reporting person 46,314 shares of Series A Convertible Preferred Shares"

Series A convertible preferred shares are an early round of investment stock that gives holders special rights, such as being paid before common shareholders if the company is sold or shuts down, and sometimes receiving fixed dividends. They can be exchanged for ordinary (common) shares under agreed conditions, so they act like a tradeable ticket that can become regular ownership later. For investors this matters because these shares reduce downside risk while preserving the upside and affect future ownership and dilution.

Class A Ordinary Shares financial

"automatically converted into ten Class A Ordinary Shares with a nominal value of $0.0035 each"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

Nasdaq financial

"the clearance of an initial listing application by Fusion Fuel with The Nasdaq Stock Market LLC ("Nasdaq")"

The Nasdaq is a stock exchange where many companies' shares are bought and sold, functioning much like a marketplace for investments. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping them track the value of those companies and make informed decisions. As one of the largest and most technology-focused markets, it also reflects trends and developments in the business world.

automatic conversion financial

"the Series A Preferred Shares will be automatically converted into ten Class A Ordinary Shares"

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^*

Safir Sanjeeb

(Last) (First) (Middle)

C/O QUALITY INDUSTRIAL CORP.

505 MONTGOMERY STREET

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Quality Industrial Corp. [ QIND ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	COO and Mng Dir Middle East

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2024

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
Common Stock	09/02/2024		A		1,000,000	A	$0	1,000,000	D
Common Stock	11/26/2024		S		1,000,000	D	(1)(2)	1,000,000	D

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. Pursuant to a Stock Purchase Agreement (the "Purchase Agreement"), dated November 18, 2024, by and among Quality Industrial Corp., a Nevada corporation ("QIND"), Fusion Fuel Green PLC, an Irish public limited company (the "Fusion Fuel"), Ilustrato Pictures International Inc., a Nevada corporation and a stockholder of the Company, and certain other stockholders of the Company including the reporting person, the reporting person transferred 1,000,000 shares of common stock of QIND to Fusion Fuel, and in consideration, Fusion Fuel issued to the reporting person 46,314 shares of Series A Convertible Preferred Shares with a nominal value of $0.0001 each of Fusion Fuel ("Series A Preferred Shares"). The conditions to the closing of the transactions contemplated by the Purchase Agreement were satisfied in all material respects as of November 26, 2024 (the "Closing Date").

2. The conversion rights under the Series A Preferred Shares remain subject to the satisfaction of certain conditions, including shareholder approval of certain matters and the clearance of an initial listing application by Fusion Fuel with The Nasdaq Stock Market LLC ("Nasdaq"). Upon satisfaction of such conditions, the Series A Preferred Shares will be automatically converted into ten Class A Ordinary Shares with a nominal value of $0.0035 each of Fusion Fuel, subject to adjustment for share dividends and share splits. On November 25, 2024, the last trading day before the Closing Date, the last reported price of a Class A Ordinary Share by Nasdaq was $4.64, prior to adjustment for any subsequent share splits, which effectively resulted in each share of QIND common stock transferred by the reporting person being valued at $2.15 per share on an as-converted basis, without regard to the conditions to conversion.

	/s/ Sanjeeb Safir	04/10/2026
	** 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)

FAQ

What insider transactions did QIND executive Safir Sanjeeb report on this Form 4?

He reported two transactions involving QIND common stock. On 2 September 2024, he received 1,000,000 shares as a grant. On 26 November 2024, he disposed of 1,000,000 shares in a transaction linked to a Stock Purchase Agreement with Fusion Fuel Green PLC.

How many Quality Industrial (QIND) shares did the COO dispose of and under what arrangement?

He disposed of 1,000,000 QIND common shares on 26 November 2024. Footnotes state the shares were transferred to Fusion Fuel Green PLC under a Stock Purchase Agreement rather than a simple cash sale, as part of a broader transaction between the companies and certain stockholders.

What did the QIND insider receive in exchange for the 1,000,000 QIND shares?

In exchange for transferring 1,000,000 QIND shares to Fusion Fuel, he received 46,314 Series A Convertible Preferred Shares of Fusion Fuel. These preferred shares carry automatic conversion rights into Fusion Fuel Class A Ordinary Shares once specified shareholder and Nasdaq listing conditions are satisfied.

How are the Fusion Fuel Series A Preferred Shares held by the QIND insider expected to convert?

Each Fusion Fuel Series A Convertible Preferred Share will automatically convert into ten Fusion Fuel Class A Ordinary Shares once certain conditions are met. These conditions include required shareholder approvals and clearance of an initial Nasdaq listing application, as described in the transaction footnotes.

What implied value did the Form 4 disclose for QIND shares in this stock-for-stock transaction?

Using Nasdaq’s 25 November 2024 last reported price of $4.64 per Fusion Fuel Class A Ordinary Share, the filing notes each QIND share transferred was effectively valued at about $2.15 on an as-converted basis. This illustration does not reflect future price changes or conversion outcomes.

Does this QIND Form 4 involve any derivative securities or options for the reporting person?

The summarized data show no derivative transactions or remaining derivative positions for the reporting person. The only new security received was 46,314 Fusion Fuel Series A Convertible Preferred Shares, whose conversion mechanics into ordinary shares are described but not treated as options in this filing.