Red Cat (RCAT) director receives 7,429 shares as RSUs vest

Rhea-AI Filing Summary

Red Cat Holdings director Christopher R. Moe reported a routine equity compensation event. On April 30, 2026, he exercised 7,429 restricted stock units, receiving 7,429 shares of Red Cat common stock at a stated price of $0.00 per share.

The footnotes explain these restricted stock units were originally granted on May 22, 2025 and vested on April 30, 2026, with each unit converting into one share. After this settlement, Moe directly holds 230,502 shares of Red Cat common stock, and there are no remaining RSUs from this grant.

Insider Trade Summary

7,429 shares exercised/converted

Mixed 2 txns

Insider Moe Christopher R.

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	7,429	$0.00	--
Exercise	Common Stock	7,429	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Stock — 230,502 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs settled: 7,429 units Shares received from RSUs: 7,429 shares Post-transaction holdings: 230,502 shares +2 more

5 metrics

RSUs settled 7,429 units Settled into common stock on April 30, 2026

Shares received from RSUs 7,429 shares Common stock issued upon RSU vesting at $0.00 per share

Post-transaction holdings 230,502 shares Common stock directly owned after April 30, 2026 transaction

RSU grant date May 22, 2025 Date 7,429 restricted stock units were granted

RSU vesting date April 30, 2026 Date the 7,429 restricted stock units vested

Key Terms

Restricted Stock Units, derivative security, contingent right

3 terms

Restricted Stock Units financial

"On May 22, 2025, the reporting person was granted 7,429 restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

contingent right financial

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

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^*

Moe Christopher R.

(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)
04/30/2026

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	04/30/2026		M		7,429	A	(1)	230,502	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)	04/30/2026		M			7,429	(1)	(1)	Common Stock	7,429	(1)	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

	/s/ Christopher R. Moe	05/04/2026
	** 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 transaction did Red Cat (RCAT) director Christopher Moe report?

Director Christopher R. Moe reported the settlement of 7,429 restricted stock units into 7,429 shares of Red Cat common stock. This was a scheduled vesting and conversion event, not an open-market purchase or sale, and reflects routine equity compensation.

Did Christopher Moe buy or sell Red Cat (RCAT) shares in this Form 4?

The Form 4 shows no open-market buying or selling by Christopher Moe. Instead, 7,429 restricted stock units vested and converted into an equal number of common shares, classified as an exercise or conversion of a derivative security at a stated price of $0.00.

How many Red Cat (RCAT) shares does Christopher Moe hold after this transaction?

Following the conversion of 7,429 restricted stock units into common shares, Christopher Moe directly holds 230,502 shares of Red Cat common stock. This figure comes from the Form 4’s post-transaction ownership line and reflects his direct ownership after the vesting event.

What were the key dates for Christopher Moe’s Red Cat (RCAT) restricted stock units?

The footnotes state that Christopher Moe received 7,429 restricted stock units on May 22, 2025. These units vested on April 30, 2026, and were settled the same day into 7,429 shares of Red Cat common stock, aligning with their scheduled vesting date.

What does the Form 4 say about the nature of Moe’s Red Cat (RCAT) RSUs?

Each restricted stock unit represents a contingent right to receive one share of Red Cat common stock. The Form 4 footnote clarifies that the 7,429 units vested and were settled into shares on April 30, 2026, as part of Moe’s equity compensation arrangements.