SVRN corrects COO stock award classification

The remaining restricted shares vest in equal monthly installments through December 2026, subject to continued service.

Available on EDGAR 11/02/2026 - 04:28 PM EST Accepted by SEC EDGAR 11/02/2026 - 04:28 PM EST Learn about SEC filing dates

This filing corrects an earlier one, and you can read the original Form 3 if you want to see what changed.

Rhea-AI Filing Summary

SVRN, Inc. amended the report for Chief Operating Officer David L. Schwed to correct an award inadvertently reported as a derivative security. The award was 54,810 shares of restricted common stock, dated March 18, 2026; his reported direct holding after the transaction was 54,810 shares. Twenty-five percent vests on September 22, 2026, and the balance vests in equal monthly installments through December 2026, subject to continued service on each applicable vesting date. The reported share count reflects the 1-for-20 reverse split effected March 30, 2026.

Insider Trade Summary

Holdings reported, no transactions

Holdings

Insider Schwed David L.

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Holding	Common Stock F1	--	--	--

Holdings: Common Stock — 54,810 shares (Direct)

Footnotes (1)

1. F1. The Reporting Person was granted 54,810 shares of restricted common stock, vesting 25% on September 22, 2026, with the balance of the shares vesting monthly in equal installments through December 2026, subject to continued service on each applicable vesting date. On March 30, 2026, the Issuer effected a 1-for-20 reverse stock split of the Issuer's common stock (the "Reverse Split"). The number of shares of common stock reported on this Form 3/A reflects the Reporting Person's common stock after giving effect to the Reverse Split.

Key Figures

Restricted common stock granted: 54,810 shares Direct shares held after transaction: 54,810 shares First vesting installment: 25% +1 more

4 metrics

Restricted common stock granted 54,810 shares March 18, 2026

Direct shares held after transaction 54,810 shares Reported post-transaction holding

First vesting installment 25% Vests September 22, 2026, subject to continued service

Reverse stock split 1-for-20 Effected March 30, 2026; reported share count reflects the split

Key Terms

restricted common stock, vesting, Reverse Split

3 terms

restricted common stock technical

"granted 54,810 shares of restricted common stock"

Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.

vesting technical

"vesting 25% on September 22, 2026"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Reverse Split financial

"the "Reverse Split""

A reverse split is when a company reduces the number of its outstanding shares by combining several existing shares into one new share, so the price per share rises proportionally while the company’s overall value stays the same. Investors care because it can make a stock appear more respectable or meet exchange rules — like turning many small coins into a single larger bill — but it can also signal financial trouble and often affects trading liquidity and investor perception.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did SVRN COO David L. Schwed receive?

David L. Schwed was granted 54,810 shares of restricted common stock; his reported direct holding after the transaction was 54,810 shares.

When do David L. Schwed's SVRN restricted shares vest?

Twenty-five percent vests on September 22, 2026, and the balance vests in equal monthly installments through December 2026, subject to continued service on each applicable vesting date.

What did SVRN's Form 3/A correct?

The amendment corrects an award that was inadvertently reported as a derivative security on David L. Schwed's original Form 3.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Schwed David L.

(Last) (First) (Middle)

PENDELIS 26

PALAIO FALIRO

(Street)

ATHENS 175 64

(City) (State) (Zip)

GREECE

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
SVRN, Inc. [ SVRN ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)
03/24/2026

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

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock(1)	54,810(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Reporting Person was granted 54,810 shares of restricted common stock, vesting 25% on September 22, 2026, with the balance of the shares vesting monthly in equal installments through December 2026, subject to continued service on each applicable vesting date. On March 30, 2026, the Issuer effected a 1-for-20 reverse stock split of the Issuer's common stock (the "Reverse Split"). The number of shares of common stock reported on this Form 3/A reflects the Reporting Person's common stock after giving effect to the Reverse Split.

Remarks:

This amended Form 3 is filed to correct an award that was inadvertently reported as a derivative security on the Reporting Person's original Form 3.

	/s/ David L. Schwed	11/02/2026
	** 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 5 (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 3: SEC 1473 (03-26)