SARO (NYSE) director/reseller files to sell 27,445 shares via Morgan Stanley

Rhea-AI Filing Summary

SARO filed a Rule 144 notice to sell 27,445 shares of Common Stock. The shares were acquired upon vesting of restricted stock units on 04/15/2025. The filing lists 332,654,814 shares outstanding as of 04/16/2026 and an amount shown of $68,837.76.

The sale is reported through Morgan Stanley Smith Barney LLC as broker-dealer; the filing states the shares resulted from RSU vesting for services rendered to the issuer on 04/15/2025.

Insights

Securities Compliance Analyst

Routine Rule 144 notice for resale of vested RSU shares; procedural disclosure rather than a strategic corporate move.

The filing documents a planned resale of 27,445 shares that were acquired upon RSU vesting on 04/15/2025. It lists the broker-dealer handling the transaction as Morgan Stanley Smith Barney LLC, consistent with standard resale channels under Rule 144.

Because this is a Rule 144 notice, timing and execution mechanics depend on the selling holder and broker; subsequent Form 4/Form 144 amendments or trade reports would show execution details.

Equity Capital Markets Specialist

The notice size (27,445 shares) is small relative to the reported outstanding shares, indicating limited market impact.

Shares outstanding are listed as 332,654,814 as of 04/16/2026, so the planned sale represents a de minimis fraction of float. The filing records an amount of $68,837.76, suggesting the resale value range shown in the notice.

Market impact will depend on execution method; the filing names the broker but does not specify sale timing or method in the excerpt provided.

Key Figures

Shares proposed for sale: 27,445 shares Vesting date: 04/15/2025 Shares outstanding: 332,654,814 shares +1 more

4 metrics

Shares proposed for sale 27,445 shares listed under 'Securities To Be Sold' with vesting date 04/15/2025

Vesting date 04/15/2025 RSUs vested and shares acquired on this date

Shares outstanding 332,654,814 shares as of 04/16/2026 (listed in the filing excerpt)

Amount shown $68,837.76 numeric amount appearing on the securities line in the excerpt

Key Terms

restricted stock units, Rule 144, broker-dealer

3 terms

restricted stock units financial

"The Common Stock was acquired upon the vesting of 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.

Rule 144 regulatory

"144: Securities To Be Sold"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

broker-dealer market

"Morgan Stanley Smith Barney LLC 1 New York Plaza"

A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Morgan Stanley Smith Barney LLC 1 New York Plaza, 8th Floor NY NY 10004	2516	68837.76	332654814	04/16/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	04/15/2025	The Common Stock was acquired upon the vesting of restricted stock units granted on April 15, 2025.	The Issuer			27445	04/15/2025	Services rendered to the Issuer

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does SARO's Form 144 report say about the shares being sold?

The filing reports a proposed sale of 27,445 shares of Common Stock. These shares were acquired upon the vesting of restricted stock units on 04/15/2025 and are being resold under Rule 144.

Who is listed as the broker for the planned sale in SARO's filing?

The broker-dealer named is Morgan Stanley Smith Barney LLC at 1 New York Plaza, 8th Floor, NY. The filing lists this firm as the intermediary for the securities to be sold.

How many shares outstanding does SARO report in the filing?

The filing lists 332,654,814 shares outstanding as of 04/16/2026. This figure is shown in the excerpt and provides a baseline for comparing the sale size to total shares outstanding.

When were the shares acquired that are now being resold?

The shares were acquired upon the vesting of restricted stock units on 04/15/2025. The filing states the RSUs vested as compensation for services rendered to the issuer on that date.

What monetary amount is shown in the Form 144 excerpt?

The excerpt includes the figure $68,837.76. The filing shows this amount alongside the securities line; the excerpt does not further detail whether this is aggregate sale proceeds or another labeled amount.