Red Cat Holdings (RCAT) COO exercises 25,000 RSUs, shares withheld for taxes

Rhea-AI Filing Summary

Red Cat Holdings Chief Operating Officer Christian Ericson exercised 25,000 restricted stock units into common shares on March 11, 2026. These units had been granted earlier and vested in two equal installments. To cover tax obligations, 7,870 of the resulting common shares were withheld at a value of $14.67 per share. After the exercise and tax withholding, Ericson holds 17,130 shares of Red Cat common stock directly, reflecting a routine compensation-related transaction rather than an open-market trade.

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

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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^*

Ericson Christian

(Last) (First) (Middle)

C/O RED CAT HOLDINGS INC.

2800 S WEST TEMPLE SUITE 5

(Street)

SOUTH SALT LAKE UT 84115

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

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 Stock	03/11/2026		M		25,000	A	(1)	25,000	D
Common Stock	03/11/2026		F		7,870	D	$14.67	17,130	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
Restricted Stock Units	(1)	03/11/2026		M			25,000	(2)	(2)	Common Stock	25,000	(2)	25,000	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

2. On March 31, 2025, the reporting person was granted 50,000 restricted stock units, vesting in two equal installments: 50% on March 11, 2026 and 50% on March 11, 2027.

Remarks:

	/s/ Christian Ericson	03/13/2026
	** 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.

FAQ

What insider transaction did Red Cat Holdings (RCAT) report for its COO?

Red Cat Holdings reported that COO Christian Ericson exercised 25,000 restricted stock units into common shares. The award was part of a 50,000-unit grant that vests in two equal tranches, reflecting routine equity compensation rather than an open-market stock purchase.

How many Red Cat (RCAT) shares did the COO retain after the Form 4 transaction?

After exercising restricted stock units and related tax withholding, COO Christian Ericson directly holds 17,130 shares of Red Cat common stock. This figure reflects the net position reported immediately following the March 11, 2026 equity compensation transaction disclosed in the Form 4.

Were any Red Cat (RCAT) shares sold on the open market in this Form 4?

No open-market sale was reported. The only disposition was 7,870 shares of common stock withheld at $14.67 per share to satisfy tax obligations tied to the restricted stock unit vesting and exercise, a standard mechanism in equity compensation arrangements.

What was the size and vesting schedule of the COO’s Red Cat (RCAT) RSU grant?

The COO received a 50,000 restricted stock unit grant that vests in two equal installments. Half, or 25,000 units, vested on March 11, 2026, with the remaining 25,000 scheduled to vest on March 11, 2027, subject to the original grant terms.

What transaction codes appear in the Red Cat (RCAT) COO’s Form 4 filing?

The filing shows code M for the exercise of 25,000 restricted stock units into common stock and code F for the disposition of 7,870 shares to cover tax liabilities. Both transactions are classified as direct holdings of the reporting person, Christian Ericson.