Director Francis Braun III sees stock option vesting for SHF Holdings

Rhea-AI Filing Summary

Insider grant vested and became exercisable: Francis A. Braun III, a director of SHF Holdings, Inc. (ticker shown as SHFS in the filing), had a stock option that vested 100% on August 7, 2025. The option covers 53,144 underlying shares with an exercise price of $2.40 per share and an expiration date of August 6, 2035. Following the reported transaction the filing shows 53,114 shares beneficially owned directly.

The filing is a Form 4 reporting an individual (one reporting person) exercise-right acquisition event for an insider director. The signature block shows the report was signed on September 17, 2025. No cash exercise or sale of shares is reported in this Form 4; it documents the vesting and resulting beneficial ownership and the terms of the derivative (option).

Insights

Financial Analyst

TL;DR: Routine insider vesting increases exercisable equity but contains no sale or cash exercise; impact appears neutral to short-term valuation.

The Form 4 documents a fully vested stock option for Director Francis A. Braun III covering 53,144 shares at a $2.40 strike, exercisable through 08/06/2035. This is a standard equity compensation event that aligns the director with shareholder outcomes but does not change outstanding share count unless exercised. Because there is no reported exercise, sale, or cash transaction, the immediate market impact is limited. Materiality depends on company size and outstanding shares, which are not provided in this filing.

Corporate Governance Expert

TL;DR: The director's option vesting reflects typical long-term incentive design; governance implications are routine and non-disruptive.

The 100% vesting on 08/07/2025 of a decade-long option (expiring 08/06/2035) indicates a long-term retention and alignment mechanism. The Form 4 indicates direct beneficial ownership increases to 53,114 shares post-vesting. There are no disclosures of hedging, transfers, or pledging related to these options in the filing. From a governance perspective, this is standard disclosure of compensation-related equity becoming exercisable and does not by itself signal governance concerns.

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^*

Braun III Francis A

(Last) (First) (Middle)

1526 COLE BLVD, SUITE 250

(Street)

GOLDEN CO 80401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SHF Holdings, Inc. [ SHFS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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
Stock Option (Right to Buy)	$2.4	08/07/2025		A		53,144		(1)	08/06/2035	Common Stock	53,114	$0	53,114	D

Explanation of Responses:

1. The stock option vested 100% on August 7, 2025.

	/s/ Francis A. Braun III	09/17/2025
	** 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 the Form 4 filed for SHFS/SHFSW report?

The Form 4 reports that director Francis A. Braun III had a stock option that vested 100% on 08/07/2025, covering 53,144 shares at a $2.40 strike price.

How many shares did the reporting person beneficially own after the transaction?

The filing shows 53,114 shares beneficially owned directly following the reported transaction.

Was there an exercise, sale, or cash transaction reported on this Form 4?

No. The Form 4 documents the vesting of the option and resulting beneficial ownership; it does not report an exercise or sale of the option or underlying shares.

What are the key terms of the option disclosed?

The option has an exercise price of $2.40, vested on 08/07/2025, and expires on 08/06/2035.

When was the Form 4 signed by the reporting person?

The signature block shows the form was signed on 09/17/2025 by Francis A. Braun III.