[Form 4] Satellogic Inc. Insider Trading Activity

Rhea-AI Filing Summary

Emiliano Kargieman, Chief Executive Officer, Director and >10% owner of Satellogic Inc. (SATL), reported equity transactions tied to RSU vesting. On 09/20/2025 a tranche of 26,483 restricted stock units (RSUs) vested6,407 shares were withheld to satisfy tax and withholding obligations, and 20,076 shares were recorded as acquired at $0. The filing shows a subsequent sale of 130 shares on 09/23/2025 at $4 per share, leaving the reporting person with 2,019,946 shares beneficially owned after the reported transactions.

The RSUs were part of a grant of 423,729 RSUs awarded on 06/23/2025 that vest in equal quarterly installments through 06/20/2029, generally subject to continued employment. The Form 4 was signed by an attorney-in-fact on 09/24/2025.

Positive

• RSU vesting completed as scheduled, indicating compensation plan functioning as intended
• Reporting person maintains substantial ownership with 2,019,946 shares after transactions

Negative

• 6,407 RSUs withheld for taxes, reducing net issuance to the reporting person
• Small open-market sale of 130 shares at $4 per share (though immaterial, it is a disposition)

Insights

Corporate Governance Expert

TL;DR: CEO received and vested a scheduled RSU tranche; routine withholding occurred, and a small open-market sale followed.

The transactions are consistent with pre-announced equity compensation: a grant on 06/23/2025 of 423,729 RSUs that vest quarterly through 06/20/2029. The 09/20/2025 vesting of 26,483 RSUs increased the CEO's direct holdings to 2,020,076 shares before the small sale on 09/23/2025. Withholding of 6,407 shares to cover taxes is a standard administrative action that reduces net issuance but does not indicate a change in executive control or governance. Documentation was executed by an attorney-in-fact and properly reported on Form 4.

Compensation Analyst

TL;DR: The equity movements reflect normal compensation vesting and tax withholding; the small sale is immaterial to ownership percentage.

The underlying grant and vesting schedule are explicit: 423,729 RSUs granted 06/23/2025 with equal quarterly vesting through 06/20/2029. The vested 26,483 RSUs on 09/20/2025 produced 20,076 net acquired shares recorded at $0 and 6,407 shares withheld for tax obligations. A subsequent sale of 130 shares at $4 per share slightly reduced holdings to 2,019,946 shares. These are routine compensation settlement mechanics and the magnitude of the sale is minor relative to total beneficial ownership.

09/24/2025 - 07:48 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

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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).

1. Name and Address of Reporting Person^*

Kargieman Emiliano

(Last) (First) (Middle)

SATELLOGIC INC.

210 DELBURG STREET

(Street)

DAVIDSON NC 28036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Satellogic Inc. [ SATL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/20/2025

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
Class A Common Stock	09/20/2025		M		20,076	A	$0	2,020,076	D
Class A Common Stock	09/23/2025		S		130	D	$4	2,019,946	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 Unit	$0	09/20/2025		M			26,483	(1)	(1)	Class A Common Stock	26,483	$0	397,246	D

Explanation of Responses:

1. On June 23, 2025, Mr. Kargieman was granted 423,729 RSUs. These RSUs vest in equal quarterly installments from June 23, 2025 through June 20, 2029, generally subject to continued employment through each vesting date. On September 20, 2025, 26,483 shares vested of which 6,407 shares were withheld in order to satisfy Mr. Kargieman's obligations for payment of withholding and other taxes due in connection therewith.

Remarks:

	/s/ Rick Dunn, Attorney-in-fact for Emiliano Kargieman	09/24/2025
	** 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

When did Emiliano Kargieman have RSUs vest for SATL?

A tranche of 26,483 RSUs vested on 09/20/2025.

How many RSUs were originally granted to Kargieman and when do they vest?

He was granted 423,729 RSUs on 06/23/2025, vesting in equal quarterly installments through 06/20/2029.

How many shares did Kargieman acquire and how many were withheld for taxes?

Of the vested RSUs, 20,076 shares were acquired and 6,407 shares were withheld to satisfy tax obligations.

Did Kargieman sell any shares after the vesting event?

Yes, the Form 4 reports a sale of 130 shares on 09/23/2025 at $4 per share.

What is Kargieman's beneficial ownership after these transactions?

The filing reports 2,019,946 shares beneficially owned following the reported transactions.