SmartRent (SMRT) CEO Martell discloses new family trust trades

Rhea-AI Filing Summary

SmartRent, Inc. (SMRT) reported equity transactions by Chief Executive Officer and director Frank Martell, filed as a Form 4 for one reporting person. The transactions involve Class A common stock held indirectly through the Frank D. and Donna M. Martell Family Trust.

On 11/20/2025, the trust reported a transaction in Class A common stock at a weighted average price of $1.47 per share for 93,764 shares, resulting in 991,968 shares beneficially owned indirectly after the transaction. On 11/21/2025, the trust reported another transaction at a weighted average price of $1.44 per share for 56,236 shares, bringing indirect beneficial ownership to 1,048,204 shares.

The prices on both days were executed in multiple trades within stated ranges, and the reporting person has undertaken to provide full trade details upon request to regulatory staff, the issuer, or its security holders.

Insights

Equity Ownership and Governance Analyst

CEO/director increased indirect holdings through two small open‑market style acquisitions at low prices, a modestly favorable governance signal.

The reporting person, who is both Chief Executive Officer and a director of SmartRent, Inc., reported two transactions in Class A common stock on 11/20/2025 and 11/21/2025. In each case, shares were marked as acquired ("A") with transaction code "P" at weighted average prices of about $1.47 and $1.44, executed in multiple trades within disclosed price ranges. These transactions increased the indirect position held via the Frank D. and Donna M. Martell Family Trust.

After the first transaction of 93,764 shares, the trust’s reported beneficial ownership rose to 991,968 shares, and after the second transaction of 56,236 shares it rose to 1,048,204 shares. All reported holdings are indirect, through the family trust, so the reporting person’s economic exposure is concentrated there rather than in directly held stock. The explanation notes that each transaction consisted of multiple trades within narrow price bands and offers to provide full trade breakdowns, which supports transparency around execution.

For readers tracking insider activity, the key facts are that a senior insider increased beneficial ownership over two consecutive days at prices in the mid‑$1 range. The filing does not describe any broader plans, but any future Form 4s showing additional changes in this trust’s holdings, or the adoption of a Rule 10b5‑1 trading plan, would further clarify the pattern of insider trading behavior over time.

Insider Trade Summary

Net Buyer: 150,000 shares ($218,813)

Net Buy 2 txns

Insider Martell Frank

Role Chief Executive Officer

Bought 150,000 shs ($219K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	56,236	$1.44	$81K
Purchase	Class A Common Stock	93,764	$1.47	$138K

Holdings After Transaction: Class A Common Stock — 1,048,204 shares (Indirect, Frank D. and Donna M. Martell Family Trust)

Footnotes (1)

1. This transaction was executed in multiple trades at prices ranging from $1.44 to 1.50. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades at prices ranging from $1.40 to $1.47. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

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^*

Martell Frank

(Last) (First) (Middle)

6811 E MAYO BLVD

SUITE 400

(Street)

PHOENIX AZ 85054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SmartRent, Inc. [ SMRT ]

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

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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
Class A Common Stock	11/20/2025		P		93,764	A	$1.47(1)	991,968	I	Frank D. and Donna M. Martell Family Trust
Class A Common Stock	11/21/2025		P		56,236	A	$1.44(2)	1,048,204	I	Frank D. and Donna M. Martell Family Trust

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. This transaction was executed in multiple trades at prices ranging from $1.44 to 1.50. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

2. This transaction was executed in multiple trades at prices ranging from $1.40 to $1.47. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

	/s/ Frank Martell	11/21/2025
	** 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.

FAQ

What insider transactions did SmartRent (SMRT) report in this Form 4?

The filing reports two transactions in Class A common stock by CEO and director Frank Martell, conducted through the Frank D. and Donna M. Martell Family Trust on 11/20/2025 and 11/21/2025.

How many SmartRent (SMRT) shares were involved in the reported transactions?

The trust reported 93,764 shares in a transaction on 11/20/2025 and 56,236 shares in a transaction on 11/21/2025, both in SmartRent Class A common stock.

What prices were reported for the SmartRent (SMRT) share transactions?

The 11/20/2025 transaction used a weighted average price of $1.47 per share, and the 11/21/2025 transaction used a weighted average price of $1.44 per share, each based on multiple trades within stated ranges.

How many SmartRent (SMRT) shares does Frank Martell beneficially own after these transactions?

After the 11/20/2025 transaction, the family trust beneficially owned 991,968 shares indirectly. After the 11/21/2025 transaction, indirect beneficial ownership increased to 1,048,204 shares.

In what capacity is the reporting person related to SmartRent (SMRT)?

The reporting person, Frank Martell, is both a director and an officer of SmartRent, serving as Chief Executive Officer.

How are the SmartRent (SMRT) shares held according to this filing?

The reported SmartRent Class A common stock is held indirectly through the Frank D. and Donna M. Martell Family Trust, as indicated in the ownership column.