SmartRent (SMRT) CEO Granted 1.8M RSUs; 450k Issued on Sep 30, 2025

Rhea-AI Filing Summary

Frank Martell, CEO and director of SmartRent, Inc. (SMRT), reported a grant and subsequent issuance of restricted stock units. On June 16, 2025, he was granted 1,800,000 Restricted Stock Units (RSUs) that vest in four substantially equal quarterly installments so that 100% will be vested as of June 30, 2026. On September 30, 2025, 450,000 RSUs were reported as acquired/issued to the reporting person. Following the reported transaction, the form shows 506,506 shares of Class A common stock beneficially owned directly and 898,204 shares beneficially owned indirectly via the Frank D. and Donna M. Martell Family Trust. The derivative section reports 1,350,000 RSUs held directly after the transaction. The filing is signed by Frank Martell on September 30, 2025.

Positive

• Transparent disclosure of the RSU grant and subsequent issuance consistent with Section 16 filing requirements
• Clear vesting schedule for the 1,800,000 RSU grant, with 100% vesting stated by June 30, 2026

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider grant and issuance reflecting executive compensation vesting schedule, disclosed under Section 16 reporting.

The filing documents a standard CEO equity award and the subsequent issuance of a tranche of RSUs. The June 16, 2025 grant of 1,800,000 RSUs with quarterly vesting through June 30, 2026 is explicitly stated, and the September 30, 2025 line shows 450,000 RSUs acquired. Beneficial ownership is broken out between direct ownership (506,506 Class A shares) and indirect ownership through a family trust (898,204 shares). The disclosure is complete for the events reported and is consistent with required SEC Form 4 transparency.

Compensation & Equity Plan Specialist

TL;DR: Large time‑based RSU award with near‑term vesting; material size but presented as scheduled vesting rather than new issuance triggers.

The grant size (1,800,000 RSUs) is significant in absolute terms and is documented as vesting in four substantially equal quarterly installments, implying accelerated concentration of equity compensation by mid‑2026. The form reports 450,000 RSUs as acquired on 09/30/2025 and shows 1,350,000 RSUs remaining directly beneficially owned after that transaction. All key dates, amounts, and the $0 conversion price per RSU are stated in the filing, enabling stakeholders to understand dilution timing from the compensation program.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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)
09/30/2025

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	09/30/2025		M		450,000	A	(1)	506,506	D
Class A Common Stock								898,204	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
Restricted Stock Units	(1)	09/30/2025		M			450,000	(2)	(2)	Class A Common Stock	1,800,000	$0	1,350,000	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive one share of the issuer's Class A Common Stock, par value $0.001 per share.

2. On June 16, 2025, the reporting person was granted 1,800,000 Restricted Stock Units, vesting in four substantially equal quarterly installments, such that 100% of the RSUs subject to the CEO Grant will be vested as of June 30, 2026.

	/s/ Frank Martell	09/30/2025
	** 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 did SmartRent (SMRT) report on this Form 4?

The filing reports that CEO Frank Martell was issued 450,000 Restricted Stock Units on 09/30/2025 and discloses a prior grant of 1,800,000 RSUs dated 06/16/2025.

How many Class A shares does Frank Martell beneficially own after the transaction?

The Form 4 shows 506,506 Class A shares owned directly and 898,204 shares owned indirectly through the Frank D. and Donna M. Martell Family Trust.

What is the vesting schedule for the RSU grant reported on the Form 4?

The 1,800,000 RSU grant vests in four substantially equal quarterly installments so that 100% of the RSUs will be vested as of June 30, 2026.

How many RSUs remained directly beneficially owned following the reported transaction?

The derivative section reports 1,350,000 RSUs held directly following the 09/30/2025 transaction.

What conversion price is listed for the RSUs?

The filing indicates a conversion price of $0 per restricted stock unit, reflecting that each RSU represents a contingent right to one share.

Who signed the Form 4 and when?

The Form 4 was signed by Frank Martell on 09/30/2025.