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  4. [Form 4] Soluna Holdings, Inc Insider Trading Activity

Soluna Holdings (SLNH) director sells 9% Series A preferred

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Soluna Holdings, Inc (SLNH) director William P. Phelan reported selling a total of 14,961 shares of the company’s 9.0% Series A Cumulative Perpetual Preferred Stock (ticker SLNHP) in three transactions. The sales occurred on August 25, 26, and 27, 2026 at prices between $12.00 and $12.09 per share in open-market or private transactions. Post-transaction preferred holdings are not stated in this filing.

Positive

  • None.

Negative

  • None.
Insider Phelan William P
Role Director
Sold 14,961 shs ($180K)
Type Security Shares Price Value
Sale 9.0% Series A Cumulative Perpetual Preferred Stock 8,099 $12.08 $98K
Sale 9.0% Series A Cumulative Perpetual Preferred Stock 1,862 $12.09 $23K
Sale 9.0% Series A Cumulative Perpetual Preferred Stock 5,000 $12.00 $60K
Holdings After Transaction: 9.0% Series A Cumulative Perpetual Preferred Stock — 71,272 shares (Direct)
Shares sold (2026-08-25) 5,000 shares Sale of 9.0% Series A Cumulative Perpetual Preferred Stock at $12.00 per share
Price per share (2026-08-25) $12.00 Sale of 5,000 shares of 9.0% Series A Cumulative Perpetual Preferred Stock
Shares sold (2026-08-26) 1,862 shares Sale of 9.0% Series A Cumulative Perpetual Preferred Stock at $12.09 per share
Price per share (2026-08-26) $12.09 Sale of 1,862 shares of 9.0% Series A Cumulative Perpetual Preferred Stock
Shares sold (2026-08-27) 8,099 shares Sale of 9.0% Series A Cumulative Perpetual Preferred Stock at $12.08 per share
Price per share (2026-08-27) $12.08 Sale of 8,099 shares of 9.0% Series A Cumulative Perpetual Preferred Stock
Total shares sold 14,961 shares Aggregate of three reported sales of 9.0% Series A Cumulative Perpetual Preferred Stock
Cumulative Perpetual Preferred Stock financial
"9.0% Series A Cumulative Perpetual Preferred Stock"
A cumulative perpetual preferred stock is a share that acts like a long-lasting hybrid between a bond and a dividend-paying stock: it promises regular fixed payments that, if missed, accumulate and must be paid later before common shareholders get dividends, and it has no set maturity date. Investors care because it can provide steady, higher-priority income similar to interest, but with limited capital upside, sensitivity to interest rates, and the risk that payments can be delayed even though they continue to accrue.
Series A financial
"9.0% Series A Cumulative Perpetual Preferred Stock"
Series A is the first major round of outside equity financing for a privately held startup, where professional investors buy ownership stakes in exchange for capital to help the company move from early proof-of-concept toward scalable operations. It matters to investors because it sets an early price for the company and signals market confidence; successful Series A investments can deliver large returns if the business grows, but they also carry high risk similar to backing a promising prototype that still needs development.
Rule 10b5-1 regulatory
"Rule 10b5-1 checkbox is unchecked (aff_10b5_one is false)"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

What insider transactions did SLNH director William P. Phelan report in this Form 4?
William P. Phelan reported three sales of Soluna Holdings’ 9.0% Series A Cumulative Perpetual Preferred Stock, totaling 14,961 shares, on August 25, 26, and 27, 2026, at prices between $12.00 and $12.09 per share.

How many SLNHP preferred shares did William P. Phelan sell on each date?
On August 25, 2026, he sold 5,000 shares at $12.00; on August 26, 2026, he sold 1,862 shares at $12.09; and on August 27, 2026, he sold 8,099 shares at $12.08.

What is the total number of Soluna Holdings (SLNH) preferred shares sold in this Form 4?
Across all three transactions, William P. Phelan reported selling a total of 14,961 shares of Soluna Holdings’ 9.0% Series A Cumulative Perpetual Preferred Stock (SLNHP), according to the transaction summary in the Form 4.

What security is involved in William P. Phelan’s Form 4 transactions for SLNH?
All reported trades involve Soluna Holdings’ 9.0% Series A Cumulative Perpetual Preferred Stock, traded under ticker SLNHP. This is a preferred stock paying a stated 9.0% cumulative dividend and described as perpetual.

Does the Form 4 state William P. Phelan’s remaining SLNHP holdings after these sales?
No. For each of the three transactions, the field for total shares following transaction is left blank, so this Form 4 does not state William P. Phelan’s remaining holdings in the preferred stock.

Were the SLNHP transactions by William P. Phelan under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is unchecked (aff_10b5_one is false), and there are no plan-related footnotes, so these trades are not identified in the Form 4 as pursuant to a Rule 10b5-1 trading plan.

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SEC Form 4
FORM 4UNITED 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 [ SLNHP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/25/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
9.0% Series A Cumulative Perpetual Preferred Stock08/25/2026S5,000D$1281,233D
9.0% Series A Cumulative Perpetual Preferred Stock08/26/2026S1,862D$12.0979,371D
9.0% Series A Cumulative Perpetual Preferred Stock08/27/2026S8,099D$12.0871,272D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
/s/ Christopher Gandolfo, Attorney in Fact08/27/2026
** Signature of Reporting PersonDate
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