CEO Stilwill Reports Share Conversion; 13,712 Restricted Shares Cashed Out

Rhea-AI Filing Summary

Benjamin L. Stilwill, who serves as President and CEO and is a director of Streamline Health Solutions (STRM), filed a Form 4 reporting dispositions of common stock on 08/12/2025 tied to a completed merger. Under the Merger Agreement, Merger Sub merged with and into the issuer and the issuer became a wholly owned subsidiary of Mist Holding Co.

At the effective time each outstanding share of common stock was canceled and converted into the right to receive $5.34 in cash per share. The filing also states that 13,712 restricted stock awards were canceled and converted into cash equal to the number of shares times the Merger Consideration, less applicable withholding taxes. The Form 4 notes inclusion of 3 shares owned by a spouse in the reported holdings.

Positive

• Completed merger converted each outstanding common share into $5.34 cash per share
• 13,712 restricted stock awards were expressly converted into cash consideration under the merger terms
• Reporting person is the issuer's President and CEO and a director, and the Form 4 ties insider dispositions directly to the Merger Agreement

Negative

• The issuer survives as a wholly owned subsidiary of the buyer, removing public common stock ownership for prior public shareholders

Insights

Financial Analyst

TL;DR Completed cash merger at $5.34 per share; insider dispositions reflect a liquidity event for shareholders.

The Form 4 documents a material corporate transaction: all outstanding common shares were canceled and converted into a fixed cash payment of $5.34 per share at the effective time of the merger. For investors, this represents a definitive cash exit for holders of public equity rather than ongoing public ownership. The filing explicitly notes conversion of vested and unvested restricted awards into cash proceeds (13,712 restricted shares), and identifies the reporting person as the issuer's President and CEO, underscoring that senior management participated in the cash-out on the stated terms.

M&A Specialist

TL;DR The merger closed with share cancellation and cash consideration; the issuer is now a wholly owned subsidiary of the buyer.

The disclosure describes a classic cash-out merger structure: Merger Sub merged into the issuer and, at the effective time, each share of common stock was cancelled for a cash payment of $5.34 per share. The filing confirms treatment of restricted stock awards as cash-equivalent consideration (13,712 awards converted), and notes the issuer now survives as a wholly owned subsidiary of Mist Holding Co. These details are material to capital structure and liquidity outcomes for prior public shareholders.

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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X

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^*

Stilwill Benjamin Louis

(Last) (First) (Middle)

2400 OLD MILTON PARKWAY

BOX 1353

(Street)

ALPHARETTA GA 30009

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STREAMLINE HEALTH SOLUTIONS INC. [ STRM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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
Common Stock, $0.01 par value	08/12/2025		D(1)		36,849(2)	D	(1)(2)	0	D
Common Stock, $0.01 par value	08/12/2025		D(1)		3	D	(1)	0	I	Includes shares owned by spouse.

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 Form 4 reports securities disposed pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 29, 2025, by and among the Issuer, Mist Holding Co. ("Parent"), and MD BE Merger Sub, Inc., a wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub merged with and into the Issuer, effective as of August 12, 2025, with the Issuer surviving the Merger as a wholly owned subsidiary of Parent (the "Merger"). Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of common stock, par value $0.01 per share, of the Company ("Common Stock") issued and outstanding as of immediately prior to the Effective Time was canceled and converted into the right to receive $5.34 in cash, without interest (the "Merger Consideration").

2. Includes 13,712 shares of restricted stock. Pursuant to the terms of the Merger Agreement, at the Effective Time, each restricted stock award corresponding to shares of Common Stock that was outstanding and unvested as of immediately prior to the Effective Time was canceled and converted into the right to receive an amount in cash equal to the product of (i) the number of shares of Common Stock corresponding to such award of restricted stock immediately prior to the Effective Time, multiplied by (ii) the Merger Consideration, less applicable withholding taxes.

	/s/ Benjamin L. Stilwill	08/14/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Benjamin L. Stilwill report on Form 4 for STRM?

He reported dispositions of common stock pursuant to the Merger Agreement, with the transaction dated 08/12/2025, converting shares into cash consideration.

What was the Merger Consideration per share for STRM?

Each outstanding share of common stock was converted into the right to receive $5.34 in cash per share, without interest.

Were restricted stock awards affected in the STRM merger?

Yes. The filing states 13,712 restricted stock awards were canceled and converted into a cash amount equal to shares times the Merger Consideration, less withholding taxes.

What is the post-merger status of Streamline Health Solutions (STRM)?

The issuer survived the merger as a wholly owned subsidiary of Mist Holding Co.

Does the Form 4 indicate any indirect holdings for the reporting person?

The filing includes an entry of 3 shares that the form notes "includes shares owned by spouse," indicating an indirect holding.