[Form 4] Satellogic Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider vesting and share withholding on 09/20/2025: Satellogic CFO Rick Dunn had multiple restricted stock units (RSUs) vest on September 20, 2025, resulting in acquisitions of Class A common stock and increases in reported beneficial ownership. The Form 4 shows four separate non-derivative acquisitions of 2,454, 4,830, 12,211, and 5,540 shares, bringing his direct holdings in those lines to 134,562, 139,392, 151,603, and 157,143 respectively.

RSU detail and tax withholding: Four RSU grants from 2022, 2023, 2024, and 2025 partially vested on that date, converting into Class A shares (4,692; 9,237; 23,350; 10,593). Shares were withheld to satisfy tax obligations (2,238; 4,407; 11,139; 5,053 withheld respectively). The Form is signed by Mr. Dunn on 09/24/2025.

Positive

• Scheduled RSU vesting occurred on 09/20/2025 converting RSUs into Class A common stock
• Beneficial ownership increased in the reported lines to stated totals (e.g., 157,143 shares in one reported line)
• Transactions were reported timely and signed (Form signed by Rick Dunn on 09/24/2025)

Negative

• Material withheld shares for taxes reduced net shares delivered: 2,238; 4,407; 11,139; and 5,053 withheld respectively
• No open-market purchases or sales disclosed, limiting liquidity signals from insider trading activity

Insights

Financial Analyst

TL;DR: CFO received scheduled RSU vesting on 09/20/2025, increasing direct share holdings; tax withholding reduced net issued shares.

The filing documents standard, scheduled vesting events converting RSUs into Class A shares for the CFO. The transaction codes indicate acquisition by vesting rather than open-market purchases. Reported withholding reduced the net number of shares delivered to satisfy tax obligations, with explicit withheld amounts per grant. There is no indication of open-market sales or additional compensatory adjustments in this filing.

Corporate Governance Expert

TL;DR: This Form 4 reflects routine executive compensation vesting and tax-withholding mechanics; no governance concerns disclosed.

The disclosure shows periodic vesting from multiple historic grants with quarter-based schedules, consistent with long-term incentive plans tied to continued employment. All transactions are reported as direct beneficial ownership by the reporting person and appropriately documented with withheld shares for taxes. The filing contains required signature and dates and does not disclose any departures, pledges, or derivative exercises beyond RSU vesting.

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

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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^*

Dunn Rick

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial 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		2,454	A	$0	134,562	D
Class A Common Stock	09/20/2025		M		4,830	A	$0	139,392	D
Class A Common Stock	09/20/2025		M		12,211	A	$0	151,603	D
Class A Common Stock	09/20/2025		M		5,540	A	$0	157,143	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			4,692	(1)	(1)	Class A Common Stock	4,692	$0	9,384	D
Restricted Stock Unit	$0	09/20/2025		M			9,237	(2)	(2)	Class A Common Stock	9,237	$0	64,668	D
Restricted Stock Unit	$0	09/20/2025		M			23,350	(3)	(3)	Class A Common Stock	23,350	$0	233,498	D
Restricted Stock Unit	$0	09/20/2025		M			10,593	(4)	(4)	Class A Common Stock	10,593	$0	158,899	D

Explanation of Responses:

1. On December 2, 2022, Mr. Dunn was granted 75,072 RSUs. These RSUs vest in equal quarterly installments from December 2, 2022 through March 20, 2026, generally subject to continued employment through each vesting date. On September 20, 2025, 4,692 shares vested of which 2,238 shares were withheld in order to satisfy Mr. Dunn's obligations for payment of withholding and other taxes due in connection therewith.

2. On August 9. 2023, Mr. Dunn was granted 147,801 RSUs. These RSUs vest in equal quarterly installments from September 20, 2023 through June 20, 2027, generally subject to continued employment through each vesting date. On September 20, 2025, 9,237 shares vested of which 4,407 shares were withheld in order to satisfy Mr. Dunn's obligations for payment of withholding and other taxes due in connection therewith.

3. On June 7, 2024, Mr. Dunn was granted 373,595 RSUs. These RSUs vest in equal quarterly installments from June 20, 2024 through March 20, 2028, generally subject to continued employment through each vesting date. On September 20, 2025, 23,350 shares vested of which 11,139 shares were withheld in order to satisfy Mr. Dunn's obligations for payment of withholding and other taxes due in connection therewith.

4. On June 23, 2025, Mr. Dunn was granted 169,492 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, 10,593 shares vested of which 5,053 shares were withheld in order to satisfy Mr. Dunn's obligations for payment of withholding and other taxes due in connection therewith.

Remarks:

	/s/ Rick Dunn	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

What did SATL insider Rick Dunn acquire on 09/20/2025?

On 09/20/2025 Mr. Dunn had RSUs vest that resulted in acquisitions of Class A common stock totaling 4,692, 9,237, 23,350, and 10,593 shares across four grant tranches.

How many shares were withheld for taxes from the September 2025 vesting?

The filing states withheld shares of 2,238, 4,407, 11,139, and 5,053 for the four respective vesting events.

Did Rick Dunn sell any shares in this Form 4?

No. The Form 4 reports acquisitions by vesting and shares withheld for taxes but does not show any open-market sales.

What are the resulting reported beneficial ownership figures after these transactions?

The non-derivative lines report resulting holdings of 134,562, 139,392, 151,603, and 157,143 shares in the respective reported lines; derivative-related lines show totals such as 9,384, 64,668, 233,498, and 158,899 where applicable.

When was the Form 4 signed and filed?

The signature block shows Mr. Rick Dunn signed the Form on 09/24/2025.