Soluna Holdings (SLNH) director receives 973,307-share restricted stock grant

Rhea-AI Filing Summary

Phelan William P reported acquisition or exercise transactions in this Form 4 filing.

Soluna Holdings director William P. Phelan reported a grant of 973,307 restricted stock awards of Common Stock. The award was approved by the Compensation Committee and carries a price of $0.0000 per share, indicating it is a compensation grant rather than a market purchase.

According to the filing, all of these shares will vest 100% upon Phelan's separation from Soluna Holdings, tying the benefit to his continued service until that point. After this grant, Phelan directly holds 2,292,022 shares of Common Stock, giving context for the size of this compensation-related award.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Phelan William P

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	973,307	$0.00	--

Holdings After Transaction: Common Stock — 2,292,022 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock grant: 973,307 shares Grant price: $0.0000 per share Total holdings after grant: 2,292,022 shares

3 metrics

Restricted stock grant 973,307 shares Grant of restricted stock awards of Common Stock

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

Total holdings after grant 2,292,022 shares Shares of Common Stock held directly after transaction

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 973,307 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"

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Form 4 Insider Transactions: What Each Field Means →

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^*

Phelan William P

(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		973,307(1)	A	$0	2,292,022	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 973,307 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)

FAQ

What did Soluna Holdings (SLNH) director William P. Phelan report on this Form 4?

He reported receiving a grant of 973,307 restricted stock awards of Common Stock. The transaction is a compensation-related award approved by the Compensation Committee, not an open-market stock purchase or sale.

How many Soluna Holdings (SLNH) shares did William P. Phelan acquire in this grant?

He acquired 973,307 restricted stock awards representing shares of Soluna Holdings Common Stock. These awards are structured as a single grant and will vest completely upon his separation from the company.

At what price were the Soluna Holdings (SLNH) restricted shares granted to William P. Phelan?

The restricted stock awards were granted at a stated price of $0.0000 per share. This indicates the grant is a compensation award rather than a cash purchase of stock on the open market.

When do William P. Phelan’s Soluna Holdings (SLNH) restricted stock awards vest?

The 973,307 restricted stock awards will vest 100% upon his separation from Soluna Holdings. This means the award is designed to fully vest only when his service with the company ends.

How many Soluna Holdings (SLNH) shares does William P. Phelan hold after this Form 4 transaction?

Following the grant, he directly holds 2,292,022 shares of Soluna Holdings Common Stock. This total includes the newly granted restricted stock awards reported in the Form 4 filing.

Is William P. Phelan’s Soluna Holdings (SLNH) transaction a market buy or sell?

No, the filing classifies it as a grant or award acquisition rather than a market trade. The transaction code is “A,” indicating a grant of restricted stock awards as compensation.