[Form 4] Satellogic Inc. Insider Trading Activity

Rhea-AI Filing Summary

Satellogic Inc. (SATL) insider Matthew Tirman reported vesting of restricted stock units on 09/20/2025 that resulted in the acquisition of both non-derivative shares and underlying shares from RSUs. On that date Mr. Tirman received 13,998 and 6,363 shares in two non-derivative entries, bringing his direct Class A common stock holdings to 119,523 shares after the second entry. Two RSU tranches vested delivering 23,303 and 10,593 Class A shares; after withholding for taxes (9,305 and 4,230 shares withheld) the vested amounts were recorded. The Form 4 was signed by an attorney-in-fact on 09/24/2025.

Positive

• Increased direct beneficial ownership recorded following RSU vesting, with reported direct Class A holdings of 119,523 shares after the listed transactions

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine executive RSU vesting increased direct holdings, with standard tax withholding; immaterial to near-term market valuation.

The filing documents scheduled vesting events from prior RSU grants that converted to Class A common stock on 09/20/2025. The transactions are administrative in nature: shares vested per grant schedules and shares were withheld to satisfy tax obligations. There is an increase in direct beneficial ownership to 119,523 shares reported after the non-derivative entries and a larger total beneficial ownership when including vested RSU conversions. No purchases, sales for cash, or derivative exercises at cash proceeds are reported. For investors this is a routine insider compensation event rather than a liquidity or control change.

Corporate Governance Expert

TL;DR: Standard equity compensation vesting consistent with grant schedules; withholding for taxes applied as expected.

The report clarifies that two RSU grants (June 7, 2024 and June 23, 2025) vest in equal quarterly installments and a scheduled tranche vested on 09/20/2025. Withholding of 9,305 and 4,230 shares occurred to cover tax obligations, which is standard practice and reflected on Form 4. The filing indicates continued employment-based vesting conditions rather than acceleration or special treatment. No governance concerns, change-in-control events, or unusual transactions are disclosed.

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^*

Tirman Matthew

(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)
	President

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		13,998	A	$0	113,160	D
Class A Common Stock	09/20/2025		M		6,363	A	$0	119,523	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			23,303	(1)	(1)	Class A Common Stock	23,303	$0	233,026	D
Restricted Stock Unit	$0	09/20/2025		M			10,593	(2)	(2)	Class A Common Stock	10,593	$0	158,899	D

Explanation of Responses:

1. On June 7, 2024, Mr. Tirman was granted 372,841 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, 23,303 shares vested of which 9,305 shares were withheld in order to satisfy Mr. Tirman's obligations for payment of withholding and other taxes due in connection therewith.

2. On June 23, 2025, Mr. Tirman 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 4,230 shares were withheld in order to satisfy Mr. Tirman's obligations for payment of withholding and other taxes due in connection therewith.

Remarks:

	/s/ Rick Dunn, Attorney-in-fact for Matthew Tirman	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).
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FAQ

What insider activity did Matthew Tirman report on Form 4 for SATL?

The Form 4 reports RSU vesting on 09/20/2025 that resulted in acquisitions of Class A common stock and withholding of shares for taxes.

How many shares vested for Matthew Tirman on 09/20/2025?

Two RSU tranches vested: 23,303 and 10,593 restricted stock units, which converted to the same number of Class A shares before withholding.

How many shares were withheld for taxes upon vesting?

The filing shows 9,305 shares withheld from the first tranche and 4,230 shares withheld from the second tranche to satisfy tax obligations.

What are Matthew Tirman's reported Class A holdings after the transactions?

Following the non-derivative entries reported on the form, Mr. Tirman is shown with 119,523 direct Class A common shares.

Were there any cash purchases or sales reported in this Form 4?

No cash purchases or sales are reported; the transactions reflect RSU vesting and share withholding for taxes.