SATL Insider Filing: 423k RSU Grant to CEO Emiliano Kargieman

Rhea-AI Filing Summary

Satellogic Inc. (SATL) filed a Form 4 disclosing a new equity award to Chief Executive Officer, Director and 10% owner Emiliano Kargieman.

• Transaction date: 23 June 2025
• Securities granted: 423,729 restricted stock units (RSUs) convertible into an equal number of Class A common shares.
• Vesting schedule: The RSUs vest in equal quarterly installments from 23 June 2025 through 20 June 2029, contingent on Mr. Kargieman’s continued employment.
• Ownership impact: After the award, Mr. Kargieman beneficially owns 423,729 derivative securities directly (Form 4 shows no change to non-derivative holdings).
• Filing details: Signed by attorney-in-fact Rick Dunn on 24 June 2025.

The grant represents long-term, performance-linked compensation designed to align the CEO’s incentives with shareholder interests while creating a potential increase in the company’s outstanding share count as the units settle over the four-year vesting period.

Positive

• Long-term incentive alignment: A four-year vesting RSU grant links CEO compensation directly to future share price performance and encourages retention.

Negative

• Potential dilution: Settlement of 423,729 RSUs will expand the share count over time, marginally diluting existing shareholders.

Insights

Financial Analyst

TL;DR: Routine CEO RSU grant—aligns incentives but adds future dilution; neutral immediate market impact.

The 423,729-unit RSU award spreads over 16 quarterly vesting dates, effectively locking in Mr. Kargieman through mid-2029 and tying compensation to the share price. Such time-based grants are standard for growth-stage companies that favor cash preservation. Although the filing shows no cash outlay, eventual share issuance will incrementally raise the float; based on the filing alone, there is no indication of repricing or performance triggers that might accelerate dilution. Given the absence of concurrent operational or financial disclosures, the transaction is best viewed as routine insider compensation rather than a signal of near-term business developments.

Corporate Governance Expert

TL;DR: Four-year RSU package supports retention; shareholders should monitor cumulative equity awards.

The board has awarded the CEO nearly 424k RSUs—substantial for a small-cap issuer but accompanied by a customary multi-year vesting horizon. This structure promotes leadership stability while deferring actual share settlement, mitigating immediate dilution. However, long vesting may reduce the incentive’s sensitivity to short-term performance. Investors should review Satellogic’s equity compensation plan limits and prior grants to ensure the aggregate burn rate remains within accepted governance thresholds.

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).

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^*

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)
06/23/2025

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

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	06/23/2025		A		423,729		(1)	(1)	Class A Common Stock	423,729	$0	423,729	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.

Remarks:

	/s/ Rick Dunn, Attorney-in-fact for Emiliano Kargieman	06/24/2025
	** 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.
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FAQ

What did Satellogic (SATL) disclose in its latest Form 4 filing?

The company granted CEO Emiliano Kargieman 423,729 restricted stock units convertible into Class A common shares.

When do the 423,729 RSUs granted to SATL's CEO vest?

They vest in equal quarterly installments from 23 June 2025 through 20 June 2029.

How does this RSU grant affect Mr. Kargieman’s ownership in SATL?

Following the transaction, he beneficially owns 423,729 derivative securities directly, as reported in Table II.

Will the RSU grant dilute Satellogic shareholders?

Yes, as the units convert, up to 423,729 new shares will be issued, modestly increasing the outstanding share count.

When was the Form 4 for SATL’s CEO signed and filed?

It was signed on 24 June 2025 by attorney-in-fact Rick Dunn.