Quipt Home Medical (QIPT) CFO stake cashed out in US$3.65-per-share buyout

Rhea-AI Filing Summary

Quipt Home Medical Corp.’s Chief Financial Officer Hardik Mehta reported dispositions of his equity as the company was acquired for US$3.65 per common share under a plan of arrangement. All issued and outstanding shares, other than any properly dissenting shares, were transferred to the purchasers for cash.

The filing shows 60,000 stock options disposed to the issuer and 366,471 common shares disposed at US$3.65 per share, leaving zero direct holdings reported. An additional 884,199 common shares held by the SK Family Trust for the benefit of Mr. Mehta’s children were also disposed at US$3.65 per share; Mr. Mehta disclaims beneficial ownership of those securities.

Insights

Equity compensation and M&A specialist

CFO equity is cashed out in an all-share acquisition at US$3.65.

The transactions reflect an acquisition where all Quipt Home Medical common shares were acquired for US$3.65 per share under a court-supervised plan of arrangement. Insider holdings, including options and RSUs, are being converted to cash rather than traded in the open market.

Hardik Mehta’s 60,000 options are surrendered to the issuer for any intrinsic value above US$3.65, while 366,471 directly held shares are cashed out at US$3.65. A further 884,199 shares held by the SK Family Trust are also cashed out, with beneficial ownership disclaimed. This is a mechanical step tied to the closing of the transaction, not a discretionary sale, so the informational signal for ongoing valuation is limited.

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

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X

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^*

Mehta Hardik

(Last) (First) (Middle)

C/O QUIPT HOME MEDICAL CORP.

1019 TOWN DRIVE

(Street)

WILDER KY 41076

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Quipt Home Medical Corp. [ QIPT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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
Common Shares	03/16/2026(1)		D		366,471(2)	D	$3.65	0	D
Common Shares	03/16/2026(1)		D		884,199	D	$3.65	0	I	By Trust(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
Stock Option (Right to Buy)	$6.27	03/16/2026		D			60,000	(4)	(4)	Common Shares	60,000	(4)	0	D

Explanation of Responses:

1. On March 16, 2026, 1567208 B.C. LTD, a company existing under the laws of British Columbia ("B.C. Purchaser"), and REM Aggregator, LLC, a Delaware limited liability company (individually, "REM Aggregator", and collectively with B.C. Purchaser ("Purchaser" or "Purchasers") acquired all of the issued and outstanding common shares (the "Shares") of Issuer under a plan of arrangement (the "Arrangement Agreement") pursuant to the Business Corporations Act (British Columbia) (the "BCBCA"). At the Effective Time (the "Effective Time") of the Arrangement Agreement each Share, other than any Shares held by shareholders who may properly exercised dissent rights under the BCBCA ("Dissenting Shareholders"), were deemed to be transferred to Purchaser in consideration for the right to receive a cash payment from the Purchaser in the amount equal to US$3.65, without interest.

2. The Shares include restricted share units ("RSUs"), which RSUs outstanding immediately prior to the Effective Time (whether vested or unvested) were, without any further action by or on behalf of the holder of any such RSU, deemed to be transferred by such holder to Issuer in consideration for the right to receive a cash payment from Issuer in the amount equal to US$3.65, less any amounts Issuer is required to withhold for taxes, without interest. Each RSU is the economic equivalent of one Share.

3. Shares are held by the SK Family Trust for the benefit of Mr. Mehta's children. Mr. Mehta disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Mr. Mehta is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

4. Pursuant to the terms of the Arrangement Agreement, immediately following the Effective Time, each option exercisable to acquire one or more Shares from the Issuer (an "Option"), outstanding immediately prior to the Effective Time (whether vested or unvested) were deemed to be unconditionally vested and exercisable and will, without any further action by or on behalf of a holder of the Option, deemed to be surrendered and transferred by such holder to the Issuer in consideration for the right to receive a cash payment from the Issuer in an amount equal to the excess, if any, of US$3.65 over the exercise price of such option, less any amounts the Issuer is required to withhold for taxes, without interest. Any option for which the exercise price is equal to or greater than US$3.65 will be cancelled for no consideration.

	/s/ Hardik Mehta	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Quipt Home Medical (QIPT) report for CFO Hardik Mehta?

Quipt Home Medical reported that CFO Hardik Mehta’s equity was disposed in cash as part of an acquisition. His stock options and directly held common shares were cashed out at US$3.65 per share or for their intrinsic value under the plan of arrangement.

How many Quipt (QIPT) shares did the CFO dispose of in this Form 4?

The Form 4 shows Hardik Mehta disposed of 366,471 directly held common shares at US$3.65 per share. In addition, 60,000 stock options were surrendered to the issuer for cash based on any value above the US$3.65 transaction price.

What happened to the Quipt (QIPT) shares held through the SK Family Trust?

The filing reports 884,199 common shares held by the SK Family Trust were also disposed of at US$3.65 per share in the acquisition. These shares are held for Mr. Mehta’s children, and he disclaims beneficial ownership of them for Section 16 and other purposes.

How were Quipt (QIPT) stock options treated in the acquisition at US$3.65 per share?

Each Quipt stock option became fully vested and was then surrendered to the issuer. Holders receive cash equal to the excess of US$3.65 over the option’s exercise price, less tax withholding; options with exercise prices at or above US$3.65 are cancelled without payment.

How were Quipt (QIPT) restricted share units (RSUs) handled in this transaction?

All outstanding Quipt RSUs, whether vested or unvested, were transferred to the issuer at the effective time. Each RSU is cashed out for US$3.65 per unit, less any required tax withholding, and each RSU is economically equivalent to one common share.

Does the Quipt (QIPT) CFO retain any shares or options after this Form 4?

The Form 4 reports zero shares and options following the transactions for the reported holdings. This reflects that all of the CFO’s reported direct equity and stock options were converted to cash as part of the US$3.65-per-share acquisition arrangement.