Cantor units trim Satellogic (SATL) stake with January share sales

Rhea-AI Filing Summary

Cantor Fitzgerald–affiliated entities that are 10% owners of Satellogic Inc. (SATL) reported open-market sales of Class A common stock over three days. On January 28, 2026, they sold 129,971 shares at a weighted average price of $5.5581, leaving 13,250,902 indirectly held shares. On January 29, 2026, 388,827 shares were sold at a weighted average price of $5.6316, with 12,862,075 shares indirectly held afterward. On January 30, 2026, 5,575 shares were sold at a weighted average price of $5.5498, leaving 12,856,500 shares indirectly owned. The filing states that CFAC Holdings V, Cantor Fitzgerald & Co. and Cantor Fitzgerald Securities are the record holders, and that the reporting parties disclaim beneficial ownership beyond their pecuniary interests. It also notes that all sales were made by Cantor Fitzgerald & Co., which agreed to disgorge any statutory profits from these transactions to Satellogic under Section 16(b).

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).

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^*

CANTOR FITZGERALD, L. P.

(Last) (First) (Middle)

110 EAST 59TH STREET

(Street)

NEW YORK NY 10022

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

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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	01/28/2026		S		129,971	D	$5.5581(2)	13,250,902	I	See footnote(1)
Class A common stock	01/29/2026		S		388,827	D	$5.6316(3)	12,862,075	I	See footnote(1)
Class A common stock	01/30/2026		S		5,575	D	$5.5498(4)	12,856,500	I	See footnote(1)

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

1. Name and Address of Reporting Person^*

CANTOR FITZGERALD, L. P.

(Last) (First) (Middle)

110 EAST 59TH STREET

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

CFAC Holdings V, LLC

(Last) (First) (Middle)

110 EAST 59TH STREET

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

CANTOR FITZGERALD & CO.

(Last) (First) (Middle)

110 EAST 59TH STREET

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

CANTOR FITZGERALD SECURITIES

(Last) (First) (Middle)

110 EAST 59TH STREET

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

CF GROUP MANAGEMENT INC

(Last) (First) (Middle)

110 EAST 59TH STREET

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Lutnick Brandon

(Last) (First) (Middle)

110 EAST 59TH STREET

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. CFAC Holdings V, LLC ("CFAC"), CF&Co. and Cantor Fitzgerald Securities ("CFS") are the record holders of the shares reported herein. Cantor Fitzgerald, L.P. ("CFLP") is the sole member of CFAC and the indirect holder of a majority of the equity interests of CF&Co. and CFS. CF Group Management Inc. ("CFGM") is the managing general partner of CFLP. Brandon G. Lutnick is the Chairman and Chief Executive Officer of CFAC, CFLP and CFGM and also the trustee with decision making control of trusts that hold all of the voting shares of CFGM. The reporting persons disclaim beneficial ownership of all securities held by CFAC, CF&Co. and CFS in excess of their respective pecuniary interest, if any, and this report shall not be deemed an admission that any of them were the beneficial owners of, or had pecuniary interest in, any such excess securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

2. Price reflects the weighted average price for the transactions reported in this line. The range of prices for the transactions reported in this line is $5.58 to $5.78.

3. Price reflects the weighted average price for the transactions reported in this line. The range of prices for the transactions reported in this line is $5.50 to $5.86.

4. Price reflects the weighted average price for the transactions reported in this line. The range of prices for the transactions reported in this line is $5.50 to $5.56

Remarks:

All of the sales reported herein were made by Cantor Fitzgerald & Co. ("CF&Co."). CF&Co. has agreed to disgorge to the Issuer all statutory "profits" pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, that resulted from the transactions reported herein. CF&Co. undertakes to provide upon request by the SEC staff, the Issuer, or a security holder of the Issuer, to provide full information regarding the number of shares purchased or sold at each separate price.

	/s/ Brandon Lutnick	01/30/2026
	/s/ Brandon Lutnick, as Chief Executive Officer of CFAC Holdings V, LLC	01/30/2026
	/s/ Brandon Lutnick, as Chief Executive Officer of Cantor Fitzgerald, L.P.	01/30/2026
	/s/ Brandon Lutnick, as Chief Executive Officer of CF Group Management Inc.	01/30/2026
	/s/ Pascal Bandelier, as Co-CEO of Cantor Fitzgerald Securities	01/30/2026
	/s/ Pascal Bandelier, as Co-CEO of Cantor Fitzgerald & Co.	01/30/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Satellogic (SATL) report in this Form 4?

The filing reports that Cantor Fitzgerald–affiliated entities sold Satellogic Class A common stock in three open-market transactions, with shares sold on January 28, 29, and 30, 2026 at weighted average prices around the mid-$5 range and holdings reduced after each sale.

How many Satellogic (SATL) shares remained after the Cantor sales?

After the reported January 30, 2026 sale, the Cantor-affiliated reporting entities indirectly held 12,856,500 shares of Satellogic Class A common stock. This figure reflects the balance following sequential reductions from 13,250,902 shares after January 28 and 12,862,075 shares after January 29.

Who actually executed the Satellogic (SATL) share sales in this Form 4?

All of the reported sales were executed by Cantor Fitzgerald & Co. The filing explains that CFAC Holdings V, Cantor Fitzgerald & Co. and Cantor Fitzgerald Securities are record holders, and that the broader Cantor-related reporting persons disclaim beneficial ownership beyond their respective pecuniary interests.

What prices were received for the Satellogic (SATL) shares sold?

The transactions used weighted average prices per share: $5.5581 for January 28, 2026, $5.6316 for January 29, 2026, and $5.5498 for January 30, 2026. Footnotes state each line reflects average pricing within specified intraday price ranges on those trading dates.

Are the Cantor reporting persons claiming full beneficial ownership of Satellogic (SATL) shares?

No. The filing states the reporting persons disclaim beneficial ownership of Satellogic securities held by CFAC Holdings V, Cantor Fitzgerald & Co. and Cantor Fitzgerald Securities beyond their respective pecuniary interests. It clarifies that the report should not be viewed as an admission of broader beneficial ownership.

What does the Form 4 say about Section 16(b) profits from these Satellogic (SATL) trades?

Cantor Fitzgerald & Co. agreed to disgorge to Satellogic all statutory profits arising from the reported transactions under Section 16(b) of the Exchange Act. The firm also undertakes to provide full pricing details for each trade upon request by regulators, the issuer, or shareholders.