Standard Nuclear chair converts and exchanges stock at IPO
Standard Nuclear, Inc. Executive Chairman Hendrix Thomas Edward reported IPO-related equity conversions and awards.
Rhea-AI Filing Summary
Standard Nuclear, Inc. Executive Chairman Hendrix Thomas Edward reported IPO-related equity conversions and awards. Preferred shares held by Standard Nuclear Trust converted into 20,308 and 50,000 Class A shares, contributing to a total of 5,824,308 Class A shares that were then exchanged one-for-one into 5,824,308 Class B shares under an Exchange Agreement. Separately, he acquired an award covering 2,734,687 Class A shares in the form of RSUs vesting over three years in quarterly 1/12th installments, with each settlement share exchangeable into Class B stock and trust-held securities subject to his voting and dispositive control.
Positive
- None.
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
Hendrix Thomas Edward
Role
Chairman of the Board
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B Common Stock F5, F4, F2 | 5,824,308 | -- | -- |
| Grant/Award | Class A common stock F1 | 2,734,687 | $0.00 | $0.00 |
| Conversion | Class A common stock F3, F2 | 50,000 | $0.00 | $0.00 |
| Conversion | Class A common stock F3, F2 | 20,308 | $0.00 | $0.00 |
| Other | Class A common stock F4, F2 | 5,824,308 | $0.00 | $0.00 |
| holding | Class B Common Stock F5 | -- | -- | -- |
| holding | Class A common stock F2 | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 5,824,308 contracts (Indirect, Held by Standard Nuclear Trust);
Class A common stock — 2,734,687 shares (Direct);
Class A common stock — 5,754,000 shares (Indirect, Held by Standard Nuclear Trust);
Class B Common Stock — 5,754,000 contracts (Direct)
Footnotes (5)
- F1. Represents shares of Class A Common Stock underlying an award of restricted stock units ("RSUs"). The RSUs will vest over three years in quarterly installments of 1/12th, subject to the Reporting Person's continued service through each vesting date. Each share of Class A Common Stock received upon the settlement of the RSU may be exchanged by the Reporting Person into one share of the Issuer's Class B Common Stock.
- F2. Andrew Price is the trustee of the trust and may be replaced at the discretion of the Reporting Person. Pursuant to a voting agreement entered into with the trust, the Reporting Person has sole voting and dispositive control over such securities. By virtue of his relationship with the trust, the Reporting Person is deemed to have an indirect beneficial interest in the shares held by the trust.
- F3. In connection with the completion of the Issuer's initial public offering of its Class A Common Stock (the "IPO"), each share of Series Seed Preferred, Series Seed-1 Preferred, Series A Preferred, and Series A-2 Preferred was automatically converted into shares of Class A Common Stock at a ratio of 1-for-1.
- F4. Pursuant to an Exchange Agreement entered into between the Issuer and the trust, all 5,824,308 shares of Class A Common Stock held by the trust after giving effect to the Preferred Conversion were exchanged for an equivalent number of newly issued shares of Class B Common Stock on a one-for-one basis upon the effectiveness of the Issuer's Sixth Amended and Restated Certificate of Incorporation which was filed in connection with the completion of the IPO.
- F5. Each outstanding share of Class B Common Stock is convertible into one share of the Issuer's Class A common stock at any time, (i) at the option of the Reporting Person, (ii) automatically upon any transfer, whether or not for value (except for certain permitted transfers), or (iii) upon the occurrence of certain events or conditions, as described further in the Issuer's Sixth Amended and Restated Certificate of Incorporation.
Key Figures
Class A shares exchanged: 5,824,308 shares
Class B shares issued in exchange: 5,824,308 shares
RSU award size: 2,734,687 shares
+4 more
7 metrics
Class A shares exchanged
5,824,308 shares
Class A shares held by Standard Nuclear Trust exchanged one-for-one into Class B at IPO completion
Class B shares issued in exchange
5,824,308 shares
Newly issued Class B Common Stock received by the trust under the Exchange Agreement
RSU award size
2,734,687 shares
Class A shares underlying RSUs granted to the Executive Chairman
Preferred conversion 1
20,308 shares
Series preferred shares automatically converted into Class A Common Stock at IPO
Preferred conversion 2
50,000 shares
Additional preferred shares converted into Class A Common Stock at IPO
RSU vesting period
3 years
RSUs vest in quarterly 1/12th installments over three years, subject to continued service
Underlying shares of Class B position
5,754,000 shares
Class A shares underlying a direct Class B Common Stock position reported in the derivative summary
Key Terms
restricted stock units ("RSUs"), Exchange Agreement, Sixth Amended and Restated Certificate of Incorporation, indirect beneficial interest, +1 more
5 terms
restricted stock units ("RSUs") financial
"Represents shares of Class A Common Stock underlying an award of restricted stock units ("RSUs")."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Exchange Agreement financial
"Pursuant to an Exchange Agreement entered into between the Issuer and the trust,"
A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.
Sixth Amended and Restated Certificate of Incorporation regulatory
"upon the effectiveness of the Issuer's Sixth Amended and Restated Certificate of Incorporation which was filed"
indirect beneficial interest financial
"the Reporting Person is deemed to have an indirect beneficial interest in the shares held by the trust."
Class B Common Stock financial
"Each outstanding share of Class B Common Stock is convertible into one share of the Issuer's Class A common stock"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did Hendrix Thomas Edward report for Standard Nuclear (STDN)?
Hendrix Thomas Edward reported IPO-related equity restructuring, including preferred stock converting into Class A, exchange of 5,824,308 Class A shares into Class B, and a grant of RSUs covering 2,734,687 Class A shares, each potentially exchangeable into Class B upon settlement.
What is the size and vesting schedule of the RSU award for STDN’s chairman?
The RSU award covers 2,734,687 shares of Class A Common Stock. These restricted stock units vest over three years in quarterly installments of 1/12th, contingent on continued service, and each share received upon settlement may be exchanged into one share of Class B Common Stock.
What role does the Standard Nuclear Trust play in Hendrix Thomas Edward’s STDN holdings?
Standard Nuclear Trust holds a substantial portion of the reported shares. Andrew Price is trustee, but a voting agreement grants Hendrix Thomas Edward sole voting and dispositive control, so he is deemed to have an indirect beneficial interest in the securities held by the trust.
AI-generated analysis. How Rhea-AI works. Not financial advice.
