SurgePays (SURG) director David Allen May adds 40,250 shares in open-market buys

Rhea-AI Filing Summary

SurgePays, Inc. director David Allen May reported open-market purchases of 40,250 shares of common stock at $0.5255 per share. These buys were executed over three days as part of a single limit order entered on June 3, 2026.

Following the latest purchase, he directly holds 156,626 common shares. A footnote explains that this does not include additional common stock deemed beneficially owned, including 41,750 shares held by XIV LLC, 15,000 shares from prior restricted share awards, and 12,295 shares held by his spouse.

Insider Trade Summary

Net Buyer: 40,250 shares ($21,151)

Net Buy 3 txns

Insider May David Allen

Role null

Bought 40,250 shs ($21K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	34,716	$0.5255	$18K
Purchase	Common Stock	121	$0.5255	$63.59
Purchase	Common Stock	5,413	$0.5255	$3K

Holdings After Transaction: Common Stock — 156,626 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Total shares purchased: 40,250 shares Purchase price: $0.5255 per share Direct holdings after trades: 156,626 shares +3 more

6 metrics

Total shares purchased 40,250 shares Open-market purchases under a limit order entered on June 3, 2026

Purchase price $0.5255 per share Price for all reported common stock purchases

Direct holdings after trades 156,626 shares Common stock held directly following the latest transaction

XIV LLC holdings 41,750 shares Common stock held in the name of XIV LLC, deemed beneficially owned

Restricted share awards 15,000 shares Common stock issuable from previous restricted share awards, deemed beneficially owned

Spouse-held shares 12,295 shares Common stock held in the name of Mr. May's spouse, deemed beneficially owned

Key Terms

open-market purchase, beneficially owned, limit order, restricted share awards, +1 more

5 terms

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

beneficially owned financial

"does not include other shares of common stock deemed to be beneficially owned by Mr. May"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

limit order financial

"Purchased pursuant to limit order for 40,250 shares at $0.5255"

A limit order is an instruction to buy or sell a stock only at a specific price or better, giving you control over the exact price you pay or receive. It matters to investors because it acts like a price guard—similar to setting a maximum you’ll pay for an item at a store—so you avoid unexpected prices, though the trade may not happen if the market never reaches your limit.

restricted share awards financial

"15,000 shares issuable pursuant to previous restricted share awards"

Restricted share awards are grants of company stock given to employees or executives that cannot be sold or transferred until certain conditions—typically staying with the company for a set time or meeting performance goals—are met. They matter to investors because they can dilute existing shares when they vest, signal management’s incentives and confidence, and affect a company’s future earnings per share much like a delayed paycheck that becomes available only after you meet agreed milestones.

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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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^*

May David Allen

(Last) (First) (Middle)

3124 BROTHER BLVD, SUITE 410

(Street)

BARLETT TENNESSEE 38133

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SurgePays, Inc. [ SURG ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	06/03/2026		P		5,413	A	$0.5255	121,789	D
Common Stock(1)	06/04/2026		P		121	A	$0.5255	121,910	D
Common Stock(1)	06/05/2026		P		34,716	A	$0.5255(1)	156,626	D

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. Purchased pursuant to limit order for 40,250 shares at $0.5255 entered June 3, 2026. The Amount of Securities Beneficially Owned Following Reported Transaction(s) reported in column 5 does not include other shares of common stock deemed to be beneficially owned by Mr. May (41,750 shares held in the name of XIV LLC, 15,000 shares issuable pursuant to previous restricted share awards, or 12,295 shares held in the name Mr. May's spouse).

	/s/ David May	06/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did SurgePays (SURG) director David Allen May report?

David Allen May reported buying 40,250 SurgePays common shares in the open market at $0.5255 per share. The trades occurred over several days as part of a single limit order entered on June 3, 2026.

At what price did David Allen May buy SurgePays (SURG) stock?

He purchased SurgePays common stock at $0.5255 per share. This price applied to a limit order covering 40,250 shares, executed through open-market transactions on June 3, June 4, and June 5, 2026.

How many SurgePays (SURG) shares does David Allen May hold after these trades?

After the reported trades, David Allen May directly holds 156,626 SurgePays common shares. A footnote notes additional beneficial ownership through an LLC, restricted share awards, and shares held by his spouse that are not included in this direct figure.

Does David Allen May have additional beneficial ownership in SurgePays (SURG) beyond direct holdings?

Yes. A footnote states he is deemed to beneficially own 41,750 shares via XIV LLC, 15,000 shares from previous restricted share awards, and 12,295 shares held by his spouse. These amounts are separate from his directly held 156,626 shares.

Were David Allen May’s SurgePays (SURG) purchases part of a single order?

Yes. The Form 4 notes the purchases were made pursuant to a single limit order for 40,250 shares at $0.5255, entered on June 3, 2026. Executions took place across multiple days in the open market.