Soluna Holdings CFO sells common and preferred stock

Soluna Holdings, Inc. reported that one of its directors and its chief financial officer sold 1,017 shares of common stock on 12/12/2025 at $2.19 per share, leaving 1,179,787 common shares beneficially owned directly.

Rhea-AI Filing Summary

Soluna Holdings, Inc. reported that one of its directors and its chief financial officer sold 1,017 shares of common stock on 12/12/2025 at $2.19 per share, leaving 1,179,787 common shares beneficially owned directly.

The same reporting person also sold 5,669 shares of the company’s 9.0% Series A Cumulative Perpetual Preferred Stock at $9.26 per share and now directly holds 52,977 preferred shares.

Insider Trade Summary

Net Seller: 6,686 shares

Net Sell 2 txns

Insider MICHAELS DAVID C

Role Chief Financial Officer

Sold 6,686 shs ($55K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,017	$2.19	$2K
Sale	9.0% Series A Cumulative Perpetual Preferred Stock	5,669	$9.26	$52K

Holdings After Transaction: Common Stock — 1,179,787 shares (Direct); 9.0% Series A Cumulative Perpetual Preferred Stock — 52,977 shares (Direct)

FAQ

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

What insider stock transactions did Soluna Holdings (SLNH) report on 12/12/2025?

The filing shows sales of 1,017 shares of common stock at $2.19 per share and 5,669 shares of 9.0% Series A Cumulative Perpetual Preferred Stock at $9.26 per share on 12/12/2025.

Who reported these transactions in Soluna Holdings (SLNH) stock?

The transactions were reported by an individual who is both a director and the company’s chief financial officer, filing as a single reporting person.

How many Soluna Holdings (SLNH) common shares does the insider own after the sale?

After the reported sale, the insider beneficially owns 1,179,787 shares of common stock, held directly.

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

Following the transaction, the insider directly holds 52,977 shares of 9.0% Series A Cumulative Perpetual Preferred Stock.

What roles does the reporting person hold at Soluna Holdings (SLNH)?

The reporting person is identified as both a director and an officer, serving as chief financial officer of Soluna Holdings, Inc.

Is this Soluna Holdings (SLNH) Form 4 filed for one or multiple insiders?

The document indicates that it is a Form filed by one reporting person, not a joint filing by multiple insiders.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 12/15/2025 - 04:30 PM EST 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
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^*

MICHAELS DAVID C

(Last) (First) (Middle)

C/O SOLUNA HOLDINGS, INC.

325 WASHINGTON AVENUE EXTENSION

(Street)

ALBANY NY 12205

(City) (State) (Zip)

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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025

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

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

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

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	12/12/2025		S		1,017	D	$2.19	1,179,787	D
9.0% Series A Cumulative Perpetual Preferred Stock	12/12/2025		S		5,669	D	$9.26	52,977	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:

	/s/ Christopher Gandolfo, Attorney in Fact	12/15/2025
	** 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.