Signing Day Sports director disposes shares in merger
Signing Day Sports director Gregory Economou returned his company equity to the issuer as part of a merger closing.
Rhea-AI Filing Summary
Signing Day Sports director Gregory Economou returned his company equity to the issuer as part of a merger closing. On March 16, 2026, he disposed of 90,919 shares of common stock and a stock option covering 500 shares back to Signing Day Sports. Under a Business Combination Agreement with BlockchAIn Digital Infrastructure, Inc., his Signing Day Sports shares were exchanged into BlockchAIn common shares at a ratio of 0.09334 BlockchAIn share for each company share, valued at $4.60 per BlockchAIn share. His option became fully vested and was converted into an option to purchase 47 BlockchAIn common shares at an exercise price of $1,285.62 per share.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy) | 500 | $0.00 | $0.00 |
| Disposition | Common Stock | 90,919 | $0.00 | $0.00 |
Footnotes (2)
- F1. Pursuant to the Business Combination Agreement, dated as of May 27, 2025, by and among Signing Day Sports, Inc., a Delaware corporation (the "Registrant"), One Blockchain LLC, a Delaware limited liability company, BlockchAIn Digital Infrastructure, Inc., a Delaware corporation ("BlockchAIn"), BCDI Merger Sub I Inc., a Delaware corporation, and BCDI Merger Sub II LLC, a Delaware limited liability company, as amended (the "Business Combination Agreement"), on the date of the closing (the "Closing") of the transactions contemplated by the Business Combination Agreement, or March 16, 2026 (the "Closing Date"), the reporting person received 0.09334 common shares of BlockchAIn for every share of common stock of the Registrant held by the reporting person, subject to rounding adjustments, having a market value of $4.60 per share based on the first reported sale price of the common stock of BlockchAIn on the NYSE American LLC after the Closing, which was reported on March 17, 2026.
- F2. Pursuant to the terms of the Business Combination Agreement, on the Closing Date, the reporting person's option, which provided for vesting as to 1/12 of the shares of the Registrant's common stock subject to the option on the 9th day of each August, November, February, or May, that follows May 9, 2023, immediately became fully vested, was assumed by BlockchAIn, and was automatically converted into an option to purchase 47 common shares of BlockchAIn exercisable for $1,285.62 per share.
FAQ
What insider transaction did Gregory Economou report for Signing Day Sports (SGN)?
How were Gregory Economou’s SGN stock options treated in the merger?
What is the effective date of the Signing Day Sports and BlockchAIn business combination for this insider?
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