Director at Red Cat (NASDAQ: RCAT) sells 165,028 common shares

Rhea-AI Filing Summary

Red Cat Holdings, Inc. director Paul Funk II sold all of his directly held common shares in an open-market transaction. On June 11, 2026, he sold 165,028 shares of Common Stock at a weighted average price of $11.50 per share, with individual trades ranging from $11.46 to $11.58. Following this sale, his directly owned common share balance reported in this filing is 0 shares. The filing notes the price is a weighted average across multiple individual transactions and that full trade-by-trade details are available on request.

Insights

Equity ownership & governance analyst

Red Cat director exits direct common share position via open-market sale.

The filing shows director Paul Funk II executed an open-market sale of 165,028 common shares at a weighted average price of $11.50 on June 11, 2026. After this transaction, his reported directly held common shares are 0.

This is a net-sell event with no remaining derivative positions disclosed in this filing. The footnote explains the sale occurred through multiple trades between $11.46 and $11.58, highlighting that the reported price is an average rather than a single execution level.

The filing does not state the reason for the sale or its relation to any trading plan. Any assessment of broader implications depends on additional information such as overall share count, other holdings, or future disclosures that are outside this document.

Insider Trade Summary

Net Seller: 165,028 shares ($1,897,822)

Net Sell 1 txn

Insider Funk Paul II

Role null

Sold 165,028 shs ($1.90M)

Type	Security	Shares	Price	Value
Sale	Common Stock	165,028	$11.50	$1.90M

Holdings After Transaction: Common Stock — 0 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares sold: 165,028 shares Weighted average sale price: $11.50 per share Post-transaction direct holdings: 0 shares +1 more

4 metrics

Shares sold 165,028 shares Open-market sale of Common Stock on June 11, 2026

Weighted average sale price $11.50 per share Average across multiple trades on June 11, 2026

Post-transaction direct holdings 0 shares Total directly owned common shares after reported sale

Price range of trades $11.46–$11.58 per share Range of individual sale prices in the transaction footnote

Key Terms

weighted average price, open-market sale, Common Stock, net-sell

4 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

net-sell financial

""netBuySellDirection": "net-sell""

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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^*

Funk Paul II

(Last) (First) (Middle)

C/O RED CAT HOLDINGS INC.

2800 S WEST TEMPLE, SUITE 5

(Street)

SOUTH SALT LAKE UTAH 84115

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Red Cat Holdings, Inc. [ RCAT ]

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)
06/11/2026

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	06/11/2026		S		165,028	D	$11.5(1)	0	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.46 to $11.58, inclusive. The reporting person undertakes to provide Red Cat Holdings, Inc., any security holder of Red Cat Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

	/s/ Paul Funk II	06/15/2026
	** 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 did Red Cat (RCAT) director Paul Funk II report in this Form 4?

He reported an open-market sale of his directly held Red Cat common shares. On June 11, 2026, he sold 165,028 shares at a weighted average price of $11.50 per share, leaving him with zero directly owned common shares in this filing.

How many Red Cat (RCAT) shares did the director sell and at what price?

He sold 165,028 shares of Red Cat common stock. The filing states a weighted average sale price of $11.50 per share, with individual trades executed between $11.46 and $11.58 per share across multiple transactions on June 11, 2026.

Does the Red Cat (RCAT) director still hold any common shares after this transaction?

According to the Form 4, the director’s directly owned common share balance after the reported sale is zero. The line for total shares following the transaction shows 0 shares, indicating this filing reflects a complete exit from his directly held common stock position.

What does the weighted average price mean in the Red Cat (RCAT) Form 4?

The weighted average price of $11.50 means shares were sold in multiple trades at slightly different prices. The filing notes individual transactions occurred between $11.46 and $11.58, and the director can provide detailed trade-by-trade information upon request to investors or regulators.

Was the Red Cat (RCAT) director’s sale an open-market transaction?

Yes. The transaction code is “S” and the description identifies it as an open-market or private sale. The shares of common stock were sold on June 11, 2026, at market-based prices ranging from $11.46 to $11.58 per share, resulting in a weighted average price of $11.50.