QumulusAI director Schwartz exercises 479 options

The director reported 732 option shares after exercising options; his common-stock total includes 27,847 shares subject to vesting and settlement.

Available on EDGAR 11/02/2026 - 04:40 PM EST Accepted by SEC EDGAR 11/02/2026 - 04:39 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

QumulusAI, Inc. (QMLS) director Barry Paul Schwartz exercised options on November 2, 2026, to acquire 479 common shares at an exercise price of $0.69 per share. His directly held common-stock position after the transaction was 113,512 shares, including 27,847 shares to be issued upon vesting and settlement of restricted stock unit awards, conditioned on his remaining a director through the applicable vesting dates. The reported option position after the exercise was 732 shares, with an expiration date of September 30, 2034. The transaction was not reported as made under a Rule 10b5-1 plan.

Insider Trade Summary

479 shares exercised/converted

Exercise 2 txns

Insider Schwartz Barry Paul

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy) F2	479	$0.00	$0.00
Exercise	Common Stock F1	479	$0.69	$330.51

Holdings After Transaction: Stock Option (right to buy) — 732 contracts (Direct); Common Stock — 113,512 shares (Direct)

Footnotes (2)

1. F1. Includes 27,847 shares to be issued upon vesting and settlement pursuant to restricted stock unit awards granted under the QumulusAI, Inc. 2026 Equity Incentive Plan, conditioned upon the Reporting Person remaining a director of QumulusAI through the applicable vesting dates.
2. F2. This option vested with respect to: (i) 25% of the shares on March 14, 2026; (ii) 1/36th of the remaining unvested shares monthly thereafter (prior to 4/1/2025 Contribution and Exchange Agreements, as amended, between QumulusAI, Inc. and shareholders of The Cloud Minders, Inc., pursuant to which The Cloud Minders, Inc. became a wholly owned subsidiary of QumulusAI, Inc., which is referred to herein as the Acquisition); (iii) 50% of the remaining unvested shares (upon Acquisition); and (iv) 1/18th of the remaining unvested shares monthly (after Acquisition).

Key Figures

Options exercised: 479 shares Exercise price: $0.69 per share Common shares acquired: 479 shares +4 more

7 metrics

Options exercised 479 shares November 2, 2026

Exercise price $0.69 per share Options exercised November 2, 2026

Common shares acquired 479 shares November 2, 2026

Direct common shares following transaction 113,512 shares After the November 2, 2026 transaction

Options following transaction 732 shares After the November 2, 2026 transaction

Shares to be issued upon vesting and settlement of restricted stock unit awards 27,847 shares Conditioned on remaining a director through applicable vesting dates

Option expiration date September 30, 2034 Reported option position

Key Terms

restricted stock unit awards, 2026 Equity Incentive Plan, Contribution and Exchange Agreements

3 terms

restricted stock unit awards financial

"vesting and settlement pursuant to restricted stock unit awards"

Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.

2026 Equity Incentive Plan financial

"granted under the QumulusAI, Inc. 2026 Equity Incentive Plan"

Contribution and Exchange Agreements technical

"Contribution and Exchange Agreements, as amended"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many QMLS shares did director Barry Paul Schwartz acquire?

Barry Paul Schwartz, a director, exercised options on November 2, 2026, to acquire 479 common shares at $0.69 per share. His directly held common-stock position after the transaction was 113,512 shares, including 27,847 shares to be issued upon vesting and settlement of restricted stock unit awards, conditioned on his remaining a director through applicable vesting dates. The transaction was not reported as made under a Rule 10b5-1 plan.

How many QMLS options did Barry Paul Schwartz hold after the exercise?

The reported option position following the November 2, 2026 exercise was 732 shares, and those options expire September 30, 2034.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Schwartz Barry Paul

(Last) (First) (Middle)

817 W PEACHTREE STREET NW, SUITE 935

(Street)

ATLANTA GEORGIA 30308

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
QumulusAI, Inc. [ QMLS ]

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)
11/02/2026

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
Common Stock	11/02/2026		M		479	A	$0.69	113,512(1)	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
Stock Option (right to buy)	$0.69	11/02/2026		M			479	(2)	09/30/2034	Common Stock	479	$0	732	D

Explanation of Responses:

1. Includes 27,847 shares to be issued upon vesting and settlement pursuant to restricted stock unit awards granted under the QumulusAI, Inc. 2026 Equity Incentive Plan, conditioned upon the Reporting Person remaining a director of QumulusAI through the applicable vesting dates.

2. This option vested with respect to: (i) 25% of the shares on March 14, 2026; (ii) 1/36th of the remaining unvested shares monthly thereafter (prior to 4/1/2025 Contribution and Exchange Agreements, as amended, between QumulusAI, Inc. and shareholders of The Cloud Minders, Inc., pursuant to which The Cloud Minders, Inc. became a wholly owned subsidiary of QumulusAI, Inc., which is referred to herein as the Acquisition); (iii) 50% of the remaining unvested shares (upon Acquisition); and (iv) 1/18th of the remaining unvested shares monthly (after Acquisition).

	/s/ Barry Paul Schwartz	11/02/2026
	** 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)