Splash Beverage (SBEV) CFO Receives 1M Warrants, Exercisable 07/31/2025

Rhea-AI Filing Summary

Splash Beverage Group, Inc. (SBEV) reported a Form 4 showing that William T. Devereux, the company's Chief Financial Officer, received a grant of 1,000,000 warrants on 07/31/2025. Each warrant has an exercise price of $0.80, is exercisable immediately on 07/31/2025, and expires on 07/31/2030. The filing states the grant was approved by the board and is fully vested, and that the award was exempt from Section 16(b) under Rule 16b-3. Following the grant, the reported number of underlying common shares attributable to these derivatives is 1,000,000. The form is signed by Mr. Devereux on 10/10/2025.

Positive

• 1,000,000 warrants granted to the CFO, aligning management incentives with shareholders
• Board approval and stated exemption under Rule 16b-3, indicating governance oversight
• Warrants fully vested on grant date, providing clear alignment without vesting uncertainty

Negative

• Potential dilution of 1,000,000 shares if warrants are exercised before 07/31/2030
• Exercise price of $0.80 may create a material compensation expense on the company’s books depending on valuation
• No cash proceeds reported in the filing; timing and probability of exercise are uncertain

Insights

Equity Compensation Analyst

Large, fully vested warrant grant aligns CFO pay with equity performance.

The grant of 1,000,000 warrants at an exercise price of $0.80 creates direct upside for the CFO tied to future share value between 07/31/2025 and 07/31/2030

This award was board‑approved and exempt under Rule 16b-3, indicating standard insider compensation governance; monitor outstanding dilution and any related stock‑based compensation expense in upcoming filings over the next 12 months.

Corporate Governance Specialist

Board approval and Rule 16b-3 exemption signal procedural compliance.

The Form 4 explicitly notes the grant was approved by the Board and exempt from Section 16(b), which typically documents the affirmative defense for time‑based awards and confirms the grant’s governance path.

Key near‑term items to watch are any disclosures of the grant’s accounting impact and whether similar awards are granted to other executives before Q4 2025 in proxy or periodic reports.

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

OMB Number:			3235-0287
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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^*

Devereux William T

(Last) (First) (Middle)

1314 EAST LAS OLAS BLVD., SUITE 221

(Street)

FORT LAUDERDALE FL 33316

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SPLASH BEVERAGE GROUP, INC. [ SBEV ]

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)
07/31/2025

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
Warrants(1)	$0.8	07/31/2025		A		1,000,000		07/31/2025	07/31/2030	Common Stock	1,000,000	(1)	1,000,000	D

Explanation of Responses:

1. The grant of the Issuer's warrants was exempt from Section 16(b) of the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder, as it was approved by the Issuer's Board of Directors. The warrants are fully vested.

	/s/ William Devereux	10/10/2025
	** 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).
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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 SBEV CFO William Devereux receive according to the Form 4?

The Form 4 reports a grant of 1,000,000 warrants to William Devereux with an exercise price of $0.80, dated 07/31/2025.

When are the warrants exercisable and when do they expire?

The warrants are exercisable on 07/31/2025 and expire on 07/31/2030.

Is the warrant grant vested and was it approved?

Yes; the filing states the warrants are fully vested and the grant was approved by the company’s board, exempting it under Rule 16b-3.

How many common shares would the warrants represent if exercised?

The filing shows the warrants underlie 1,000,000 common shares following the reported transaction.

When did the reporting person sign the Form 4?

The Form 4 is signed by William Devereux on 10/10/2025.