Red Cat (RCAT) COO awarded 16,294 RSUs and exercises 4,073 shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Red Cat Holdings, Inc. Chief Operating Officer Christian Ericson reported equity compensation and related share movements. On March 31, 2026, he was granted 16,294 restricted stock units (RSUs), each representing a right to receive one share of common stock.

According to the grant terms, 25% of these RSUs vested immediately, with the remaining 75% scheduled to vest on December 31, 2026. On the same date, he exercised 4,073 RSUs into 4,073 shares of common stock and 1,176 common shares were withheld at $13.09 per share to cover tax obligations. Following these transactions, he directly held 28,920 shares of common stock and 12,221 RSUs.

Insider Trade Summary

4,073 shares exercised/converted

Mixed 4 txns

Insider Ericson Christian

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	16,294	$0.00	--
Exercise	Restricted Stock Units	4,073	$0.00	--
Exercise	Common Stock	4,073	$0.00	--
Tax Withholding	Common Stock	1,176	$13.09	$15K

Holdings After Transaction: Restricted Stock Units — 16,294 shares (Direct); Common Stock — 30,096 shares (Direct)

Footnotes (1)

Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On March 31, 2026, the reporting person was granted 16,294 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

Key Figures

RSU grant: 16,294 RSUs RSUs exercised: 4,073 RSUs Tax-withholding shares: 1,176 shares +3 more

6 metrics

RSU grant 16,294 RSUs Granted to COO on March 31, 2026

RSUs exercised 4,073 RSUs Exercised into common stock on March 31, 2026

Tax-withholding shares 1,176 shares Common stock delivered for tax obligations

Tax-withholding price $13.09 per share Value applied to 1,176 withheld shares

Common shares held after 28,920 shares Direct common stock ownership after transactions

RSUs outstanding after 12,221 RSUs Restricted stock units remaining after grant and exercise

Key Terms

Restricted Stock Units, tax-withholding disposition, derivative exercise/conversion, contingent right

4 terms

Restricted Stock Units financial

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

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.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative exercise/conversion financial

"Exercise or conversion of derivative security"

contingent right financial

"Each restricted stock unit represents a contingent right to receive one share"

Form 4 Insider Transactions: What Each Field Means →

04/13/2026 - 06:10 PM

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^*

Ericson Christian

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/31/2026		M		4,073	A	⁽¹⁾	30,096	D
Common Stock	03/31/2026		F		1,176	D	$13.09	28,920	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	03/31/2026		A		16,294		⁽²⁾	⁽²⁾	Common Stock	16,294	$0	16,294	D
Restricted Stock Units	⁽¹⁾	03/31/2026		M			4,073	⁽²⁾	⁽²⁾	Common Stock	4,073	$0	12,221	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, 2026, the reporting person was granted 16,294 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

Remarks:

	/s/ Christian Ericson	04/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Red Cat (RCAT) COO Christian Ericson report?

Christian Ericson reported a grant of 16,294 restricted stock units, an exercise of 4,073 RSUs into common stock, and 1,176 common shares withheld to cover taxes. After these transactions, he directly held 28,920 common shares and 12,221 remaining RSUs.

How many Red Cat (RCAT) restricted stock units were granted to the COO?

The Chief Operating Officer received a grant of 16,294 restricted stock units. Each RSU represents a contingent right to receive one share of Red Cat common stock, providing equity-based compensation that vests over time based on the disclosed schedule.

What is the vesting schedule for the 16,294 RSUs granted by Red Cat (RCAT)?

Of the 16,294 restricted stock units, 25% vested immediately on March 31, 2026. The remaining 75% are scheduled to vest on December 31, 2026, aligning the Chief Operating Officer’s equity compensation with a defined, time-based vesting timeline.

Did the Red Cat (RCAT) COO sell any shares in this Form 4 filing?

The filing shows 1,176 common shares were disposed of as a tax-withholding transaction at $13.09 per share. This represents shares delivered to satisfy tax obligations rather than an open-market sale decision, a common feature of equity compensation events.

How many Red Cat (RCAT) shares does the COO hold after these transactions?

After the reported grant, RSU exercise, and tax withholding, the Chief Operating Officer directly holds 28,920 shares of Red Cat common stock. He also has 12,221 restricted stock units outstanding, which may convert into additional shares upon future vesting.

What was the tax withholding price on Red Cat (RCAT) shares for the COO?

For the tax-withholding disposition, 1,176 shares of Red Cat common stock were delivered at a price of $13.09 per share. This price is used solely for calculating the value of shares applied to satisfy the executive’s tax obligations on the equity transaction.