Was the Soluna Holdings (SLNH) share grant to Thomas J. Marusak an open-market purchase?

No, the transaction was not an open-market purchase. The filing identifies it as a grant or award of 849,556 restricted stock awards at a stated price of $0.0000 per share, approved by the Compensation Committee, and structured as equity compensation rather than a market trade in Soluna Holdings shares.

Soluna Holdings (SLNH) director receives 849,556 restricted stock awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Marusak Thomas J reported acquisition or exercise transactions in this Form 4 filing.

Soluna Holdings director Thomas J. Marusak received a grant of 849,556 restricted shares of common stock. The award carries a stated price of $0.0000 per share and was approved by the Compensation Committee. These restricted stock awards will vest 100% when he separates from the company.

Following this grant, Marusak directly holds a total of 1,998,596 shares of Soluna Holdings common stock. The grant represents equity-based compensation rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Marusak Thomas J

Role null

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

Holdings After Transaction: Common Stock — 1,998,596 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

Restricted stock grant: 849,556 shares Grant price per share: $0.0000 per share Total holdings after grant: 1,998,596 shares +1 more

4 metrics

Restricted stock grant 849,556 shares Grant of restricted stock awards to director Thomas J. Marusak

Grant price per share $0.0000 per share Stated price for the restricted stock awards

Total holdings after grant 1,998,596 shares Director’s direct ownership following the transaction

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

Key Terms

restricted stock awards, Compensation Committee, vest 100% upon the reporting person's separation

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.

vest 100% upon the reporting person's separation financial

"The shares of Common Stock will vest 100% upon the reporting person's separation from the issuer"

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Form 4 Insider Transactions: What Each Field Means →

06/03/2026 - 04:30 PM

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^*

Marusak Thomas J

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/01/2026		A		849,556⁽¹⁾	A	$0	1,998,596	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Soluna Holdings (SLNH) disclose in this Form 4 filing?

Soluna Holdings reported that director Thomas J. Marusak received a grant of 849,556 restricted shares of common stock. The award is equity compensation approved by the Compensation Committee and vests entirely when he separates from the company, rather than being bought on the open market.

How many Soluna Holdings (SLNH) shares were granted to Thomas J. Marusak?

Thomas J. Marusak was granted 849,556 restricted stock awards representing shares of Soluna Holdings common stock. These shares carry a stated price of $0.0000 per share and are structured as compensation that will fully vest upon his separation from the issuer, according to the filing footnote.

What is the vesting condition for the new Soluna Holdings (SLNH) restricted shares?

The restricted stock awards granted to Thomas J. Marusak vest 100% upon his separation from Soluna Holdings. This means none of the 849,556 shares vest gradually over time; instead, the entire award becomes fully vested only when his service with the company ends, per the disclosed terms.

What are Thomas J. Marusak’s Soluna Holdings (SLNH) holdings after this Form 4 transaction?

After the reported grant, Thomas J. Marusak directly holds 1,998,596 shares of Soluna Holdings common stock. This total includes the newly granted 849,556 restricted stock awards, which are subject to vesting upon his separation, as well as previously held shares, according to the post-transaction ownership figure disclosed.