Soluna Holdings (SLNH) CFO buys 100,000 shares in open-market trade

Rhea-AI Filing Summary

Soluna Holdings, Inc.’s Chief Financial Officer, Michael Picchi, reported an open-market purchase of 100,000 shares of Common Stock. The shares were bought on May 21, 2026 at an average price of about $1.63 per share, based on the reported transaction price.

Following this purchase, Picchi directly holds 1,381,250 shares of Soluna Holdings’ Common Stock. A footnote explains that the price shown reflects an average purchase price for trades executed in a range from $1.61 to $1.65 per share, with full lot-by-lot details available to regulators on request.

Insights

Equity ownership & insider-trading analyst

CFO made a sizable open-market share purchase, increasing his direct stake.

Chief Financial Officer Michael Picchi executed an open-market purchase of 100,000 shares of Soluna Holdings Common Stock at about $1.63 per share. Open-market transactions are discretionary and typically reflect a conscious decision to increase equity exposure.

After this trade, Picchi’s direct holdings rise to 1,381,250 shares. The filing notes an average purchase price based on trades between $1.61 and $1.65 per share on May 21, 2026. No derivative positions are listed in the derivative summary, so this event strictly concerns common-share ownership.

Insider Trade Summary

Net Buyer: 100,000 shares

Net Buy 1 txn

Insider PICCHI MICHAEL

Role Chief Financial Officer

Bought 100,000 shs ($163K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	100,000	$1.632	$163K

Holdings After Transaction: Common Stock — 1,381,250 shares (Direct)

Footnotes (1)

1. F1. Represents the average purchase price of shares sold ranging from $1.61- $1.65 per share of Common Stock. Mr. Picchi undertakes that he will provide, upon request by the staff of the U.S. Securities and Exchange Commission, full information regarding the number of shares purchased in each separate lot.

Key Figures

Shares purchased: 100,000 shares Average transaction price: $1.632 per share Price range: $1.61–$1.65 per share +2 more

5 metrics

Shares purchased 100,000 shares Open-market purchase on May 21, 2026

Average transaction price $1.632 per share Reported Form 4 transaction price for common stock

Price range $1.61–$1.65 per share Footnote average purchase price range for the lots

Post-transaction holdings 1,381,250 shares CFO’s direct Soluna Holdings Common Stock after purchase

Buy transactions in filing 1 transaction Form 4 transaction summary buyCount

Key Terms

open-market purchase, Common Stock, average purchase price, Form 4

4 terms

open-market purchase financial

"transaction_action: open-market purchase"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Common Stock financial

"security_title: Common Stock"

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.

average purchase price financial

"Represents the average purchase price of shares sold ranging from $1.61- $1.65 per share"

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 05/22/2026 - 04:31 PM Accepted by SEC EDGAR 05/22/2026 - 04:30 PM Learn about SEC filing dates

FAQ

What did Soluna Holdings (SLNH) CFO Michael Picchi report in this Form 4?

He reported an open-market purchase of 100,000 Soluna Holdings Common Stock shares. The transaction occurred on May 21, 2026 at an average price of about $1.63 per share, increasing his direct ownership to 1,381,250 shares after the trade.

How many Soluna Holdings (SLNH) shares does the CFO own after this transaction?

After the reported transaction, CFO Michael Picchi directly holds 1,381,250 shares of Soluna Holdings Common Stock. This figure reflects his position following the 100,000-share open-market purchase disclosed for May 21, 2026 in the Form 4 filing.

At what price did the Soluna Holdings (SLNH) CFO buy the 100,000 shares?

The Form 4 shows an average transaction price of approximately $1.632 per Soluna Holdings share. A footnote explains the purchases were executed in a range between $1.61 and $1.65 per share, with the reported figure representing the average purchase price across those lots.

Was the Soluna Holdings (SLNH) CFO’s transaction a buy or a sell?

The transaction was a buy. The Form 4 identifies it as an open-market purchase of 100,000 shares of Soluna Holdings Common Stock, with the transaction code “P” and direction labeled as a purchase rather than a sale or other type of disposition.

Does the Soluna Holdings (SLNH) Form 4 mention any derivative securities for the CFO?

No derivative securities are listed for this filing. The transaction involves only Soluna Holdings Common Stock, and the derivative summary section is empty, indicating no options, warrants, or similar derivative positions are reported alongside this common-share purchase.

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
Estimated average burden
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^*

PICCHI MICHAEL

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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	05/21/2026		P		100,000	A	$1.632(1)	1,381,250	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. Represents the average purchase price of shares sold ranging from $1.61- $1.65 per share of Common Stock. Mr. Picchi undertakes that he will provide, upon request by the staff of the U.S. Securities and Exchange Commission, full information regarding the number of shares purchased in each separate lot.

	/s/ Christopher Gandolfo, Attorney in Fact	05/22/2026
	** 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)