Soluna director granted 849,556 restricted shares

MICHAELS DAVID C reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

MICHAELS DAVID C reported acquisition or exercise transactions in this Form 4 filing.

Soluna Holdings, Inc director David C. Michaels received a large equity grant. He was awarded 849,556 shares of Common Stock as restricted stock awards approved by the Compensation Committee. The award price is listed as $0.0000 per share, reflecting a compensation grant rather than a market purchase.

Following this grant, Michaels directly holds 2,029,343 shares of Soluna common stock. According to the footnote, the restricted shares will vest 100% when he separates from the company, tying the value of this award to the timing of his departure.

Insider Trade Summary

Grant/Award: 849,556 shares

Grant/Award 1 txn

Insider MICHAELS DAVID C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	849,556	$0.00	$0.00

Holdings After Transaction: Common Stock — 2,029,343 shares (Direct)

Footnotes (1)

1. F1. Transaction reported is a grant of 849,556 restricted stock awards representing shares of Common Stock, par value $0.001 per share, of the issuer ("Common Stock"), which were approved by the Compensation Committee. The shares of Common Stock will vest 100% upon the reporting person's separation from the issuer.

Key Figures

Restricted stock grant: 849,556 shares Post-transaction holdings: 2,029,343 shares Grant price per share: $0.0000 per share +1 more

4 metrics

Restricted stock grant 849,556 shares Common Stock restricted stock awards granted to director

Post-transaction holdings 2,029,343 shares Total Soluna common shares directly held after grant

Grant price per share $0.0000 per share Reported transaction price for restricted stock awards

Vesting condition 100% upon separation Restricted stock awards vest fully when service ends

Key Terms

restricted stock awards, Compensation Committee, Common Stock

3 terms

restricted stock awards financial

"Transaction reported is a grant of 849,556 restricted stock awards representing shares of Common Stock"

Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.

Compensation Committee financial

"which were approved by the Compensation Committee"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

Common Stock financial

"representing shares of Common Stock, par value $0.001 per share, of the issuer"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Soluna Holdings (SLNH) director David C. Michaels report?

David C. Michaels reported receiving a grant of restricted stock awards in Soluna Holdings common stock. The filing shows a compensation-related award rather than an open-market trade, providing additional equity-linked incentives tied to his role as a director.

How many Soluna Holdings (SLNH) shares were granted to David C. Michaels?

Michaels was granted 849,556 restricted stock awards representing shares of Soluna Holdings common stock. These awards increase his direct holdings significantly and are structured as equity compensation approved by the company’s Compensation Committee rather than a cash purchase.

What is the vesting condition for David C. Michaels’ Soluna (SLNH) restricted stock awards?

The filing states that all 849,556 restricted stock awards vest 100% upon Michaels’ separation from Soluna Holdings. This means he receives full ownership of the shares only when his service with the company ends, aligning the award with his tenure.

How many Soluna Holdings (SLNH) shares does David C. Michaels own after this grant?

After the reported transaction, Michaels directly holds 2,029,343 shares of Soluna Holdings common stock. This total includes the newly granted 849,556 restricted stock awards and reflects his updated equity position as disclosed in the Form 4 filing.

Was David C. Michaels’ Soluna (SLNH) transaction an open-market buy or a compensation grant?

The transaction is coded as a grant or award acquisition, not an open-market purchase. The price per share is reported as $0.0000, indicating equity compensation approved by the Compensation Committee rather than shares bought on the public market.

Who approved the restricted stock grant reported by Soluna Holdings (SLNH) for David C. Michaels?

The footnote explains that Soluna Holdings’ Compensation Committee approved the grant of 849,556 restricted stock awards. This committee typically oversees director and executive pay, ensuring equity awards follow the company’s established compensation policies and governance processes.

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

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Accepted by SEC EDGAR 06/03/2026 - 04:30 PM EDT Learn about SEC filing dates

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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hours per response:			0.5

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^*

MICHAELS DAVID C

(Last) (First) (Middle)

C/O SOLUNA HOLDINGS, INC.

325 WASHINGTON AVENUE EXTENSION

(Street)

ALBANY NEW YORK 12205

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Soluna Holdings, Inc [ SLNH ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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
Common Stock	06/01/2026		A		849,556(1)	A	$0	2,029,343	D

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

Explanation of Responses:

1. Transaction reported is a grant of 849,556 restricted stock awards representing shares of Common Stock, par value $0.001 per share, of the issuer ("Common Stock"), which were approved by the Compensation Committee. The shares of Common Stock will vest 100% upon the reporting person's separation from the issuer.

	/s/ Christopher Gandolfo, Attorney in Fact	06/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)