SurgePays (NASDAQ: SURG) CEO awarded 500,000 shares and gifts stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SurgePays, Inc. CEO and Chairman Kevin Brian Cox reported several stock transactions involving company common shares. On March 23, 2026, he elected to convert $1,000,000 owed to him under a consolidated promissory note into 800,000 shares of common stock at $1.25 per share, issued under the 2022 Omnibus Securities and Incentive Plan.
On March 24, 2026, he made a bona fide gift of 270,745 shares to the LC Marital Trust Dated May 17, 2021. On April 1, 2026, he was awarded an additional 500,000 shares pursuant to his employment agreement and the same incentive plan, resulting in 1,300,000 shares held directly.
Following these transactions, Mr. Cox is also deemed to beneficially own 270,745 shares via the LC Marital Trust, 4,569,384 shares through BLC Family Investments LLC, and 561,758 shares through SMDMM Funding LLC.
Positive
- None.
Negative
- None.
Insider Trade Summary
541,490 shares gifted
Mixed
4 txns
Insider
Cox Kevin Brian
Role
CEO & Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 500,000 | $0.00 | -- |
| Gift | Common Stock | 270,745 | $0.00 | -- |
| Gift | Common Stock | 270,745 | $0.00 | -- |
| Grant/Award | Common Stock | 800,000 | $1.25 | $1.00M |
Holdings After Transaction:
Common Stock — 1,300,000 shares (Direct);
Common Stock — 270,745 shares (Indirect, By LC Marital Trust Dated May 17, 2021)
Footnotes (1)
- On March 23, 2026, Mr. Cox elected to convert $1,000,000 owed to him by the issuer under the consolidated promissory note issued by the issuer to Mr. Cox on or about March 12, 2024, into shares of issuer common stock at $1.25/share (into 800,000 shares of common stock). Those shares were awarded to Mr. Cox on or about March 23, 2026, pursuant to the issuer's 2022 Omnibus Securities and Incentive Plan. On March 24, 2026, Mr. Cox transferred 270,745 to a family trust, the LC Marital Trust Dated May 17, 2021, for no consideration. On April 1, 2026, the issuer awarded Mr. Cox 500,000 shares pursuant to Mr. Cox's employment agreement with the issuer, as amended, and the issuer's 2022 Omnibus Securities and Incentive Plan. Following the award, Mr. Cox directly held 1,300,000 shares of common stock, and Mr. Cox is also deemed to beneficially own the following shares: (i) 270,745 shares of common stock held in the name of the LC Marital Trust Dated May 17, 2021, (ii) 4,569,384 shares held in the name of BLC Family Investments LLC, and (iii) 561,758 shares held in the name of SMDMM Funding LLC.
Key Figures
Debt converted: $1,000,000
Shares from conversion: 800,000 shares
Awarded shares: 500,000 shares
+5 more
8 metrics
Debt converted
$1,000,000
Amount owed under consolidated promissory note converted on March 23, 2026
Shares from conversion
800,000 shares
Common stock issued at $1.25/share upon debt conversion and award on March 23, 2026
Awarded shares
500,000 shares
Common stock awarded on April 1, 2026 under employment agreement and 2022 plan
Gifted shares
270,745 shares
Bona fide gift to LC Marital Trust on March 24, 2026
Direct holdings after award
1,300,000 shares
Direct SurgePays common stock held by Kevin Cox after April 1, 2026 award
BLC Family Investments LLC holdings
4,569,384 shares
Shares of common stock held in the name of BLC Family Investments LLC
SMDMM Funding LLC holdings
561,758 shares
Shares of common stock held in the name of SMDMM Funding LLC
LC Marital Trust holdings
270,745 shares
Shares of common stock held by LC Marital Trust Dated May 17, 2021
Key Terms
consolidated promissory note, 2022 Omnibus Securities and Incentive Plan, bona fide gift, beneficially own, +1 more
5 terms
consolidated promissory note financial
"owed to him by the issuer under the consolidated promissory note issued by the issuer"
2022 Omnibus Securities and Incentive Plan financial
"those shares were awarded to Mr. Cox ... pursuant to the issuer's 2022 Omnibus Securities and Incentive Plan"
bona fide gift financial
"transaction_code_description": "Bona fide gift""
beneficially own financial
"Mr. Cox is also deemed to beneficially own the following shares"
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.
employment agreement financial
"awarded Mr. Cox 500,000 shares pursuant to Mr. Cox's employment agreement with the issuer"
FAQ
What debt did SurgePays (SURG) CEO Kevin Cox convert into stock?
Kevin Cox converted $1,000,000 owed to him under a consolidated promissory note into SurgePays common stock. The conversion occurred at $1.25 per share, resulting in 800,000 shares issued under the company’s 2022 Omnibus Securities and Incentive Plan.
What gift transaction did the SurgePays (SURG) CEO report?
On March 24, 2026, Kevin Cox reported a bona fide gift of 270,745 shares of SurgePays common stock. These shares were transferred for no consideration to the LC Marital Trust Dated May 17, 2021, which now holds that amount.
What indirect SurgePays (SURG) holdings is the CEO deemed to beneficially own?
Kevin Cox is deemed to beneficially own 270,745 shares held by the LC Marital Trust, 4,569,384 shares held by BLC Family Investments LLC, and 561,758 shares held by SMDMM Funding LLC, in addition to his directly held SurgePays common stock.
Were Kevin Cox’s recent SurgePays (SURG) transactions open-market buys or sells?
The reported transactions were grants/awards, a debt conversion, and a bona fide gift. There were no open-market purchases or sales; the filings show award acquisitions and a transfer to a family trust for no consideration.