Stewards director discloses 630K-share warrant stake
Director Barsoum Wael Kamal reports indirect warrant and share holdings plus 45,000 restricted stock units in Stewards, Inc.
Rhea-AI Filing Summary
Stewards, Inc. (SWRD) reports initial holdings for director Barsoum Wael Kamal, consisting primarily of derivative securities linked to common stock. Indirect positions include common warrants covering 630,000 shares at an exercise price of $0.40 per share, expiring November 15, 2029, and pre-funded warrants exercisable for 9,000 shares at $0.0001 per share. He also holds 630,000 common shares indirectly through a nominee account and directly holds 45,000 restricted stock units granted May 8, 2026 that cliff-vest on May 8, 2027, each representing one common share upon settlement.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Barsoum Wael Kamal
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Warrants F1, F2 | -- | -- | -- |
| holding | Pre-Funded Warrants F3, F1, F2 | -- | -- | -- |
| holding | Restricted Stock Units F5, F4 | -- | -- | -- |
| holding | Common Stock, par value $0.0001 per share F1 | -- | -- | -- |
Holdings After Transaction:
Common Warrants — 630,000 contracts (Indirect, Same as Table I);
Pre-Funded Warrants — 9,000 contracts (Indirect, Same as Table I);
Restricted Stock Units — 45,000 contracts (Direct);
Common Stock, par value $0.0001 per share — 630,000 shares (Indirect, Held in an account at Stewards Investment Capital Limited as nominee)
Footnotes (5)
- F1. These common shares, common warrants, and pre-funded warrants are held of record by Stewards Investment Capital Limited as nominee under a client mandate for the reporting person. The reporting person has the pecuniary interest and investment power. The record holder disclaims beneficial ownership except as a nominee.
- F2. Represents common warrants to purchase 630,000 shares at $0.40 per share, expiring November 15, 2029, acquired in connection with Common Units issued under the issuer's September 9, 2024 Securities Purchase Agreement.
- F3. Represents 600,000 pre-funded warrants. Each pre-funded warrant is exercisable for 3/200ths of one share, or 9,000 shares in the aggregate, at $0.0001 per share. Exercisability and expiration are as set forth in the applicable warrant.
- F4. Represents 45,000 restricted stock units granted on May 8, 2026 under the issuer's 2024 Equity Incentive Plan. The units cliff-vest 100% on May 8, 2027, subject to continued service as a director. Each unit represents the right to receive one share of common stock upon settlement. The units have no expiration date other than forfeiture if the vesting conditions are not met.
- F5. There is no expiration date for this security.
Key Figures
Common warrants underlying shares: 630,000 shares
Common warrant exercise price: $0.40 per share
Common warrant expiration: November 15, 2029
+5 more
8 metrics
Common warrants underlying shares
630,000 shares
Shares of common stock underlying common warrants held indirectly as of September 9, 2026
Common warrant exercise price
$0.40 per share
Exercise price for common warrants expiring November 15, 2029
Common warrant expiration
November 15, 2029
Expiration date of common warrants on 630,000 underlying shares
Pre-funded warrants underlying shares
9,000 shares
Aggregate shares of common stock underlying pre-funded warrants at $0.0001 per share
Pre-funded warrant exercise price
$0.0001 per share
Exercise price for pre-funded warrants exercisable for 9,000 shares
Indirect common stock holdings
630,000 shares
Common stock held in an account at Stewards Investment Capital Limited as nominee
Restricted stock units
45,000 units
RSUs granted May 8, 2026, cliff-vesting May 8, 2027, each for one share
Pre-funded warrants count
600,000 warrants
Number of pre-funded warrants that are exercisable for 9,000 shares in the aggregate
Key Terms
Pre-Funded Warrants, Restricted Stock Units, pecuniary interest, cliff-vest, +1 more
5 terms
Pre-Funded Warrants financial
"Represents 600,000 pre-funded warrants. Each pre-funded warrant is exercisable"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
Restricted Stock Units financial
"Represents 45,000 restricted stock units granted on May 8, 2026"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
pecuniary interest financial
"The reporting person has the pecuniary interest and investment power."
cliff-vest financial
"The units cliff-vest 100% on May 8, 2027, subject to continued service"
beneficial ownership financial
"The record holder disclaims beneficial ownership except as a nominee."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Stewards, Inc. (SWRD) report in this Form 3 for Barsoum Wael Kamal?
The filing reports initial ownership positions for director Barsoum Wael Kamal, including indirect holdings of common stock and warrants plus 45,000 restricted stock units, but no new purchase or sale transactions.
What pre-funded warrant position is disclosed for SWRD in this Form 3?
The Form 3 discloses pre-funded warrants exercisable for 9,000 shares of Stewards, Inc. common stock at an exercise price of $0.0001 per share, with exercisability and expiration governed by the applicable warrant terms.
How many Stewards, Inc. (SWRD) restricted stock units does Barsoum Wael Kamal hold?
Barsoum Wael Kamal holds 45,000 restricted stock units granted on May 8, 2026 under the 2024 Equity Incentive Plan. They cliff-vest 100% on May 8, 2027, subject to continued service as a director.
Are Barsoum Wael Kamal’s SWRD holdings direct or indirect?
He holds 630,000 common shares, common warrants, and pre-funded warrants indirectly through Stewards Investment Capital Limited as nominee under a client mandate, and 45,000 restricted stock units are held directly in his name.
Does this SWRD Form 3 indicate any Rule 10b5-1 trading plan?
No. The data show no Rule 10b5-1 checkbox affirmation and the footnotes describe the nature of holdings and grants, not transactions under a trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
