Soluna Holdings (SLNH) CEO trims preferred stake via Rule 10b5-1 sale

Q: Was the Soluna Holdings (SLNH) CEO’s preferred share sale under a Rule 10b5-1 plan?

Yes. The filing states the transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 16, 2025. Such plans pre-schedule trades, reducing the significance of trade timing.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Soluna Holdings Chief Executive Officer John Belizaire reported an open-market sale of preferred shares. On April 6, 2026, he sold 1,000 shares of Soluna’s 9.0% Series A Cumulative Perpetual Preferred Stock at $7.25 per share. The transaction was executed under a Rule 10b5-1 trading plan adopted on December 16, 2025. Following this sale, he directly holds 100,042 shares of the same preferred stock, indicating he retained the vast majority of his position.

Insider Trade Summary 10b5-1

Net Seller: 1,000 shares ($7,250)

Net Sell 1 txn

Insider Belizaire John

Role Chief Executive Officer

Sold 1,000 shs ($7K)

Type	Security	Shares	Price	Value
Sale	9.0% Series A Cumulative Perpetual Preferred Stock	1,000	$7.25	$7K

Holdings After Transaction: 9.0% Series A Cumulative Perpetual Preferred Stock — 100,042 shares (Direct)

Footnotes (1)

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Key Figures

Shares sold: 1,000 shares Sale price: $7.25 per share Holdings after transaction: 100,042 shares +2 more

5 metrics

Shares sold 1,000 shares 9.0% Series A Cumulative Perpetual Preferred Stock sold on April 6, 2026

Sale price $7.25 per share Open-market sale of Soluna preferred shares

Holdings after transaction 100,042 shares Preferred shares directly held by CEO following the sale

Dividend rate 9.0% Stated rate on Series A Cumulative Perpetual Preferred Stock

Rule 10b5-1 plan adoption date December 16, 2025 Date CEO adopted trading plan governing this sale

Key Terms

9.0% Series A Cumulative Perpetual Preferred Stock, open-market sale, Rule 10b5-1 trading plan, cumulative, +1 more

5 terms

9.0% Series A Cumulative Perpetual Preferred Stock financial

"security_title: "9.0% Series A Cumulative Perpetual Preferred Stock""

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Rule 10b5-1 trading plan regulatory

"Transaction reported ... pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

cumulative financial

"9.0% Series A Cumulative Perpetual Preferred Stock"

perpetual preferred stock financial

"9.0% Series A Cumulative Perpetual Preferred Stock"

A perpetual preferred stock is a type of share that behaves like a forever-lasting, fixed-income investment: it pays regular dividends and has no set maturity date, yet it represents ownership rather than a loan. It ranks ahead of common stock for dividend payments and in liquidation, so investors treat it as a mix between a bond and an equity stake; its value depends largely on the issuer’s credit and prevailing interest rates.

Form 4 Insider Transactions: What Each Field Means →

04/08/2026 - 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^*

Belizaire John

(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
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/06/2026

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)
9.0% Series A Cumulative Perpetual Preferred Stock	04/06/2026		S⁽¹⁾		1,000⁽¹⁾	D	$7.25	100,042	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 on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 16, 2025.

	/s/ Christopher Gandolfo, Attorney in Fact	04/08/2026
	** 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 insider transaction did Soluna Holdings (SLNH) report for its CEO?

Soluna Holdings reported that CEO John Belizaire sold 1,000 shares of the company’s 9.0% Series A Cumulative Perpetual Preferred Stock. The sale was an open-market transaction executed under a pre-arranged Rule 10b5-1 trading plan.

How many Soluna Holdings (SLNH) preferred shares did the CEO sell and at what price?

John Belizaire sold 1,000 shares of Soluna’s 9.0% Series A Cumulative Perpetual Preferred Stock at $7.25 per share. The transaction was recorded as an open-market sale on April 6, 2026, according to the Form 4 filing.

What type of security did Soluna’s CEO trade in the latest Form 4 filing?

The CEO traded Soluna’s 9.0% Series A Cumulative Perpetual Preferred Stock. This is a preferred equity security with a stated 9.0% cumulative dividend rate, described as perpetual preferred stock in the Form 4 disclosure.

How many Soluna Holdings (SLNH) preferred shares does the CEO hold after the sale?

After the transaction, John Belizaire directly holds 100,042 shares of Soluna’s 9.0% Series A Cumulative Perpetual Preferred Stock. This indicates the reported sale represented only a small portion of his disclosed preferred share holdings.

Is the Soluna Holdings (SLNH) CEO’s transaction an open-market sale or another type?

The Form 4 characterizes the transaction as an open-market sale of 1,000 preferred shares. It uses transaction code “S” and describes it as a sale in an open market or private transaction at $7.25 per share.