Investor in SI (NYSE: SI) plans Rule 144 sale of 200,000 common shares

Rhea-AI Filing Summary

A selling security holder plans to dispose of 200,000 shares of common stock of the issuer through transactions on the NYSE, with an indicated aggregate market value of $4,850,000.00. The shares are proposed to be sold beginning on 07/29/2026, with 20,738,226 shares of common stock stated as outstanding.

The shares to be sold were acquired in several transactions, including private placements of Series D and Series E convertible preferred stock on 02/10/2023 and 03/06/2025, respectively, which converted into common stock upon the IPO closing on 08/01/2025, with the holding period tacking under Rule 144(d)(3)(ii). An additional 100,000 shares were purchased in the issuer’s registered IPO on 08/01/2025 at $15.00 per share as control securities.

Key Figures

Shares to be sold: 200000 shares Aggregate market value: $4,850,000.00 Shares outstanding: 20,738,226 shares +4 more

7 metrics

Shares to be sold 200000 shares Common stock proposed for sale under Rule 144

Aggregate market value $4,850,000.00 Estimated value of 200,000 shares to be sold

Shares outstanding 20,738,226 shares Common stock outstanding as referenced in the notice

Series D conversion shares 1,743,156 shares Common stock from Series D preferred private placement on 02/10/2023

Series E conversion shares 537,326 shares Common stock from Series E preferred private placement on 03/06/2025

IPO purchase 100,000 shares at $15.00 per share Control securities purchased in the issuer’s IPO on 08/01/2025

Proposed sale start date 07/29/2026 Date from which sales under Rule 144 may begin

Key Terms

Rule 144(d)(3)(ii), Series D convertible preferred stock, Series E convertible preferred stock, control securities, +2 more

6 terms

Rule 144(d)(3)(ii) regulatory

"Holding period tacks under Rule 144(d)(3)(ii)."

Series D convertible preferred stock financial

"Private placement of Series D convertible preferred stock; converted into common"

Series D convertible preferred stock is a class of shares issued in a later-stage funding round that gives holders priority over common shareholders for payouts and often a fixed dividend, while including an option to convert those shares into common stock. It matters to investors because it affects who gets paid first if a company is sold or liquidates and can change ownership stakes and voting power when converted, similar to holding a safer ticket that can be exchanged for regular tickets later.

Series E convertible preferred stock financial

"Private placement of Series E convertible preferred stock; converted into common"

Series E convertible preferred stock is a class of investment shares issued in a later-stage financing round that behave like a hybrid between a safety-first claim and an option to become ordinary shares. Think of it as a VIP ticket that gives owners priority on payments and protections if things go wrong, but can be swapped for regular shares later—important to investors because it affects payout priority, potential dilution of ownership, voting power, and the company’s implied valuation.

control securities regulatory

"Not restricted securities; sold as control securities."

private placement financial

"Private placement of Series D convertible preferred stock; converted into common"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

initial public offering financial

"Purchase in the issuer's registered initial public offering at $15.00 per share."

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/29/2026 - 03:33 PM Accepted by SEC EDGAR 07/29/2026 - 03:32 PM Learn about SEC filing dates

FAQ

What volume of shares is being registered for resale under Form 144 for SI?

The filing covers a proposed resale of 200,000 shares of the issuer’s common stock, with an indicated aggregate market value of $4,850,000.00, to be sold on the NYSE beginning 07/29/2026.

How many SI common shares are outstanding in this Form 144 notice?

The Form 144 notice states that there are 20,738,226 shares of the issuer’s common stock outstanding. This figure provides context for the relative size of the proposed 200,000-share sale.

How were the SI shares being sold under Form 144 originally acquired?

The shares were acquired through private placements of Series D and Series E convertible preferred stock on 02/10/2023 and 03/06/2025, which converted into common stock at the IPO closing on 08/01/2025, plus IPO purchases.

What is the relationship of the private placements to Rule 144 holding periods for SI?

The filing notes that the holding period for the common stock converted from the Series D and Series E preferred shares tacks under Rule 144(d)(3)(ii), meaning the prior holding period of the preferred shares carries over to the common stock.

What part of the SI position came from the initial public offering and at what price?

An additional 100,000 shares of the issuer’s common stock were purchased in the registered IPO on 08/01/2025 at a price of $15.00 per share. These are described as control securities, not restricted securities.

Does the Form 144 for SI involve control or restricted securities?

Yes. Shares from the Series D and Series E private placements were restricted but converted into common stock with a tacked holding period, and 100,000 IPO shares are identified as control securities sold under Rule 144.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Van Lanschot Kempen N.V. Beethovenstraat 300 Amsterdam P7 1077 WZ	200000	4850000.00	20738226	07/29/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/10/2023	Private placement of Series D convertible preferred stock; converted into common stock upon IPO closing 08/01/2025. Holding period tacks under Rule 144(d)(3)(ii).	Issuer			1743156	02/10/2023	Cash
Common	03/06/2025	Private placement of Series E convertible preferred stock; converted into common stock upon IPO closing 08/01/2025. Holding period tacks under Rule 144(d)(3)(ii).	Issuer			537326	03/06/2025	Cash
Common	08/01/2025	Purchase in the issuer's registered initial public offering at $15.00 per share. Not restricted securities; sold as control securities.	Underwriters			100000	08/01/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)