Red Cat director granted 7,429 RSUs

Red Cat Holdings, Inc. director Joseph David Freedman received a grant of restricted stock units as equity compensation.

Rhea-AI Filing Summary

Red Cat Holdings, Inc. director Joseph David Freedman received a grant of restricted stock units as equity compensation. He acquired 7,429 restricted stock units on Common Stock, each representing a contingent right to receive one share of RCAT common stock. These units vest on April 30, 2026, meaning the shares will be delivered only if the vesting condition is satisfied. After this grant, his reported derivative holdings from this award total 7,429 units, all held as direct ownership.

Insider Trade Summary

Grant/Award: 7,429 shares

Grant/Award 1 txn

Insider Freedman Joseph David

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	7,429	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 7,429 contracts (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.
2. F2. The restricted stock units vest on April 30, 2026.

Key Figures

RSUs granted: 7,429 units Grant price per unit: $0.00 Underlying shares: 7,429 shares +2 more

5 metrics

RSUs granted 7,429 units Restricted stock units granted on May 22, 2025

Grant price per unit $0.00 Stated transaction price per restricted stock unit

Underlying shares 7,429 shares Common Stock underlying the restricted stock units

Post-grant derivative holdings 7,429 units Total restricted stock units following transaction

Vesting date April 30, 2026 Date when restricted stock units vest

Key Terms

Restricted Stock Units, contingent right, vest, Common Stock

4 terms

Restricted Stock Units financial

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

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.

contingent right financial

"represents a contingent right to receive one share of RCAT common stock"

vest financial

"The restricted stock units vest on April 30, 2026"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Common Stock financial

"underlying_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.

FAQ

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

What insider transaction did Red Cat Holdings (RCAT) report for Joseph David Freedman?

Red Cat Holdings reported that director Joseph David Freedman received 7,429 restricted stock units as an equity grant. Each unit is tied to one share of common stock and will settle in shares if vesting conditions are met on the stated vesting date.

How many restricted stock units did the RCAT director receive in this Form 4 filing?

The director received 7,429 restricted stock units linked to Red Cat Holdings common stock. These units were granted at no stated cash price and represent a contingent right to receive the same number of shares upon vesting, assuming all conditions are satisfied.

When do Joseph David Freedman’s Red Cat (RCAT) restricted stock units vest?

The restricted stock units vest on April 30, 2026. Vesting means the units convert into shares of RCAT common stock if the service or performance conditions are met, turning the contingent right into actual share ownership at that time.

What does each RCAT restricted stock unit represent in this Form 4?

Each restricted stock unit represents a contingent right to receive one share of Red Cat Holdings common stock. The units do not provide immediate share ownership or cash; instead, they deliver shares only if the vesting criteria are satisfied on the specified vesting date.

Is this Red Cat (RCAT) Form 4 transaction an open-market buy or sell?

This transaction is a grant or award acquisition, not an open-market buy or sell. The director received 7,429 restricted stock units at a stated price of zero, reflecting equity compensation rather than a purchase or sale on the public market.

How many RCAT derivative units does the director hold after this grant?

Following this grant, the director is reported as holding 7,429 restricted stock units directly. These units correspond to a potential 7,429 shares of Red Cat Holdings common stock, which will only be delivered if the units vest on April 30, 2026.

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

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Accepted by SEC EDGAR 04/29/2026 - 05:12 PM EDT Learn about SEC filing dates

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^*

Freedman Joseph David

(Last) (First) (Middle)

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)
05/22/2025

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

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)	05/22/2025		A		7,429		(2)	(2)	Common Stock	7,429	$0.00	7,429	D

Explanation of Responses:

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

2. The restricted stock units vest on April 30, 2026.

	/s/ Joseph D. Freedman	04/29/2026
	** 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)