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  4. [Form 4] SPRUCE POWER HOLDING CORP Insider Trading Activity

Insider group at Spruce Power (SPRU) adds 9,702 shares in open-market buys

Filing Impact
(Neutral)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Spruce Power Holding Corp reported open-market share purchases by an affiliated holder. Steel Connect Sub LLC, part of a group owning more than 10% of Spruce Power, bought a total of 9,702 shares of common stock at prices between $4.00 and $4.05 per share. Following these transactions, the entity is shown as indirectly holding 3,390,801 shares. The reporting entities collectively disclaim beneficial ownership beyond their pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider STEEL PARTNERS HOLDINGS L.P., Steel Partners Holdings GP Inc., SPH Group LLC, SPH Group Holdings LLC, Steel Excel Inc., Steel Connect LLC, Steel Connect Sub LLC
Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought 9,702 shs ($39K)
Type Security Shares Price Value
Purchase Common Stock, par value $0.0001 per share 5,027 $4.05 $20K
Purchase Common Stock, par value $0.0001 per share 2,975 $4.00 $12K
Purchase Common Stock, par value $0.0001 per share 1,700 $4.00 $7K
Holdings After Transaction: Common Stock, par value $0.0001 per share — 3,390,801 shares (Indirect, By Steel Connect Sub LLC)
Footnotes (1)
  1. This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel"), Steel Connect LLC ("Steel Connect") and Steel Connect Sub LLC ("Steel Connect Sub") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of common stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein. Represents securities owned directly by Steel Connect Sub. Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.
Total shares purchased 9,702 shares Open-market buys reported in Form 4
Purchase prices $4.00–$4.05 per share Common stock, par value $0.0001
Shares after latest transaction 3,390,801 shares Indirect holdings following most recent buy
Trades counted as buys 3 transactions All coded as open-market purchases (P)
Shares bought on 2026-04-14 5,027 shares at $4.05 Open-market purchase by Steel Connect Sub LLC
Shares bought on 2026-04-13 2,975 shares at $4.00 Open-market purchase by Steel Connect Sub LLC
Shares bought on 2026-04-10 1,700 shares at $4.00 Open-market purchase by Steel Connect Sub LLC
Section 13(d) group regulatory
"may be deemed to be a member of a Section 13(d) group that collectively owns more than 10%"
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein"
indirect subsidiary financial
"Steel Connect is an indirect subsidiary of Steel Excel"
beneficially own financial
"may be deemed to beneficially own the Shares owned directly by Steel Connect Sub"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
Form 4 Insider Transactions: What Each Field Means →
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*
STEEL PARTNERS HOLDINGS L.P.
(Last)(First)(Middle)
590 MADISON AVENUE, 32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
SPRUCE POWER HOLDING CORP [ SPRU ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/10/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm 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
Common Stock, par value $0.0001 per share(1)(2)04/10/2026P1,700A$43,382,799IBy Steel Connect Sub LLC(2)
Common Stock, par value $0.0001 per share(1)(2)04/13/2026P2,975A$43,385,774IBy Steel Connect Sub LLC(2)
Common Stock, par value $0.0001 per share(1)(2)04/14/2026P5,027A$4.053,390,801IBy Steel Connect Sub LLC(2)
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
1. Name and Address of Reporting Person*
STEEL PARTNERS HOLDINGS L.P.
(Last)(First)(Middle)
590 MADISON AVENUE, 32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Steel Partners Holdings GP Inc.
(Last)(First)(Middle)
590 MADISON AVENUE
32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
SPH Group LLC
(Last)(First)(Middle)
C/O STEEL PARTNERS HOLDINGS L.P.
590 MADISON AVENUE, 32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
SPH Group Holdings LLC
(Last)(First)(Middle)
C/O STEEL PARTNERS HOLDINGS L.P.
590 MADISON AVENUE, 32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Steel Excel Inc.
(Last)(First)(Middle)
590 MADISON AVENUE, 32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Steel Connect LLC
(Last)(First)(Middle)
590 MADISON AVENUE
32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Steel Connect Sub LLC
(Last)(First)(Middle)
590 MADISON AVENUE, 32ND FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel"), Steel Connect LLC ("Steel Connect") and Steel Connect Sub LLC ("Steel Connect Sub") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of common stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein.
2. Represents securities owned directly by Steel Connect Sub. Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.
By: Steel Partners Holdings L.P., By: Steel Partners Holdings GP Inc., General Partner, By: /s/ Maria Reda, Secretary04/14/2026
By: Steel Partners Holdings GP Inc., General Partner, By: /s/ Maria Reda, Secretary04/14/2026
By: SPH Group LLC, By: Steel Partners Holdings GP Inc., Managing Member, By: /s/ Maria Reda, Secretary04/14/2026
By: SPH Group Holdings LLC, By: Steel Partners Holdings GP Inc., Manager, By: /s/ Maria Reda, Secretary04/14/2026
By: Steel Excel Inc., By: /s/ Maria Reda, Secretary04/14/2026
By: Steel Connect LLC., By: /s/ Maria Reda, Secretary04/14/2026
By: Steel Connect Sub LLC, By: /s/ Maria Reda, Secretary04/14/2026
** 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

FAQ

What insider activity did SPRU report in this Form 4 filing?

Spruce Power reported open-market purchases of 9,702 common shares by Steel Connect Sub LLC. These transactions occurred at prices between $4.00 and $4.05 per share, increasing the entity’s indirect holdings to 3,390,801 shares of Spruce Power common stock.

Who is the reporting owner in the Spruce Power (SPRU) Form 4?

The filing is made jointly by several Steel Partners entities, with shares owned directly by Steel Connect Sub LLC. The group may be deemed a Section 13(d) group owning over 10% of Spruce Power, though each reporting person disclaims beneficial ownership beyond its pecuniary interest.

How many Spruce Power (SPRU) shares were bought and at what prices?

Steel Connect Sub LLC purchased 9,702 Spruce Power common shares in three open-market trades. The reported prices were $4.00 per share on two days and $4.05 per share on another day, as disclosed in the Form 4 transactions table.

What is the indirect shareholding after these SPRU insider purchases?

After the latest reported purchase, indirect holdings attributed to Steel Connect Sub LLC total 3,390,801 Spruce Power common shares. This figure reflects the position following the most recent transaction and is reported under indirect ownership through the Steel Connect Sub LLC structure.