Track Group: JCP agrees to buy 384,021 shares

JCP Investment Partnership’s separately reported direct holding was 15,310,723 Track Group shares as of September 30, 2026.

Rhea-AI Filing Summary

Track Group, Inc. shares are the subject of an agreement by JCP Investment Management, LLC, on behalf of a JCP Account, to purchase 384,021 shares at $0.60 per share. The agreement was entered into on September 30, 2026, and the transaction is expected to close in the near future. No Rule 10b5-1 plan is reported. The reported post-transaction position for JCP-managed accounts is 1,937,302 shares. James C. Pappas, JCP Management’s managing member, may be deemed to beneficially own the account securities; the reporting persons disclaim beneficial ownership except to the extent of their pecuniary interests.

Insider Trade Summary

Net Buyer: 384,021 shares

Net Buy 2 txns

Insider JCP Investment Management, LLC, JCP Investment Partnership, LP, JCP Investment Partners, LP, JCP Investment Holdings, LLC, Pappas James C

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Bought 384,021 shs ($230K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.0001 per share F1, F3, F2	384,021	$0.60	$230K
holding	Common Stock, par value $0.0001 per share F1, F4	--	--	--

Holdings After Transaction: Common Stock, par value $0.0001 per share — 1,937,302 shares (Indirect, By: Managed Accounts of JCP Investment Management, LLC); Common Stock, par value $0.0001 per share — 15,310,723 shares (Indirect, By: JCP Investment Partnership, LP)

Footnotes (4)

1. F1. This Form 4 is filed jointly by JCP Investment Partnership, LP ("JCP Partnership"), JCP Investment Partners, LP ("JCP Partners"), JCP Investment Holdings, LLC ("JCP Holdings"), JCP Investment Management, LLC ("JCP Management") and James C. Pappas (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
2. F2. Represents securities of the Issuer held in certain accounts managed by JCP Management (the "JCP Accounts"). JCP Management, as the investment manager of the JCP Accounts, may be deemed to beneficially own the securities held in the JCP Accounts. Mr. Pappas, as the managing member of JCP Management, may be deemed to beneficially own the securities held in the JCP Accounts.
3. F3. On September 30, 2026, JCP Management, on behalf of a JCP Account, entered into a securities purchase agreement pursuant to which it agreed to purchase certain securities of the Issuer. This transaction is expected to close in the near future.
4. F4. Represents securities of the Issuer owned directly by JCP Partnership. JCP Partners, as the general partner of JCP Partnership, may be deemed to beneficially own the securities owned directly by JCP Partnership. JCP Holdings, as the general partner of JCP Partners, may be deemed to beneficially own the securities owned directly by JCP Partnership. JCP Management, as the investment manager of JCP Partnership, may be deemed to beneficially own the securities owned directly by JCP Partnership. Mr. Pappas, as the managing member of JCP Management and the sole member of JCP Holdings, may be deemed to beneficially own the securities owned directly by JCP Partnership.

Key Figures

Shares agreed to purchase: 384,021 shares Price per share: $0.60 per share Reported post-transaction position: 1,937,302 shares +1 more

4 metrics

Shares agreed to purchase 384,021 shares JCP Investment Management agreement entered into September 30, 2026

Price per share $0.60 per share JCP Investment Management agreement

Reported post-transaction position 1,937,302 shares JCP-managed accounts

Direct shares held 15,310,723 shares JCP Investment Partnership as of September 30, 2026

Key Terms

securities purchase agreement, beneficial ownership, pecuniary interest

3 terms

securities purchase agreement financial

"entered into a securities purchase agreement"

A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.

beneficial ownership regulatory

"disclaims beneficial ownership"

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.

pecuniary interest financial

"except to the extent of his or its pecuniary interest therein"

FAQ

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

How many TRCK shares did JCP Investment Management agree to purchase, and at what price?

JCP Investment Management, LLC, on behalf of a JCP Account, agreed to purchase 384,021 shares at $0.60 per share under an agreement entered into September 30, 2026. The transaction is expected to close in the near future, and no Rule 10b5-1 plan is reported.

How many TRCK shares did JCP Investment Partnership hold?

JCP Investment Partnership, LP owned 15,310,723 shares directly as of September 30, 2026. JCP Investment Partners, LP and JCP Investment Holdings, LLC were identified as its general partners, and JCP Investment Management, LLC as its investment manager. James C. Pappas was identified as JCP Management’s managing member. The reporting persons disclaimed beneficial ownership except to the extent of their pecuniary interests.

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

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Available on EDGAR 10/01/2026 - 04:35 PM Accepted by SEC EDGAR 10/01/2026 - 04:34 PM Learn about SEC filing dates

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^*

JCP Investment Management, LLC

(Last) (First) (Middle)

1177 WEST LOOP SOUTH

SUITE 1320

(Street)

HOUSTON TEXAS 77027

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Track Group, Inc. [ TRCK ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2026

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

	Form filed by One Reporting Person
X	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, par value $0.0001 per share(1)	09/30/2026		P		384,021(3)	A	$0.6	1,937,302	I	By: Managed Accounts of JCP Investment Management, LLC(2)
Common Stock, par value $0.0001 per share(1)								15,310,723	I	By: JCP Investment Partnership, LP(4)

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

1. Name and Address of Reporting Person^*

JCP Investment Management, LLC

(Last) (First) (Middle)

1177 WEST LOOP SOUTH

SUITE 1320

(Street)

HOUSTON TEXAS 77027

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JCP Investment Partnership, LP

(Last) (First) (Middle)

1177 WEST LOOP SOUTH

SUITE 1320

(Street)

HOUSTON TEXAS 77027

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JCP Investment Partners, LP

(Last) (First) (Middle)

1177 WEST LOOP SOUTH

SUITE 1320

(Street)

HOUSTON TEXAS 77027

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JCP Investment Holdings, LLC

(Last) (First) (Middle)

1177 WEST LOOP SOUTH

SUITE 1320

(Street)

HOUSTON TEXAS 77027

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Pappas James C

(Last) (First) (Middle)

1177 WEST LOOP SOUTH

SUITE 1320

(Street)

HOUSTON TEXAS 77027

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 is filed jointly by JCP Investment Partnership, LP ("JCP Partnership"), JCP Investment Partners, LP ("JCP Partners"), JCP Investment Holdings, LLC ("JCP Holdings"), JCP Investment Management, LLC ("JCP Management") and James C. Pappas (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

2. Represents securities of the Issuer held in certain accounts managed by JCP Management (the "JCP Accounts"). JCP Management, as the investment manager of the JCP Accounts, may be deemed to beneficially own the securities held in the JCP Accounts. Mr. Pappas, as the managing member of JCP Management, may be deemed to beneficially own the securities held in the JCP Accounts.

3. On September 30, 2026, JCP Management, on behalf of a JCP Account, entered into a securities purchase agreement pursuant to which it agreed to purchase certain securities of the Issuer. This transaction is expected to close in the near future.

4. Represents securities of the Issuer owned directly by JCP Partnership. JCP Partners, as the general partner of JCP Partnership, may be deemed to beneficially own the securities owned directly by JCP Partnership. JCP Holdings, as the general partner of JCP Partners, may be deemed to beneficially own the securities owned directly by JCP Partnership. JCP Management, as the investment manager of JCP Partnership, may be deemed to beneficially own the securities owned directly by JCP Partnership. Mr. Pappas, as the managing member of JCP Management and the sole member of JCP Holdings, may be deemed to beneficially own the securities owned directly by JCP Partnership.

	JCP Investment Management, LLC, By: /s/ James C. Pappas, Managing Member	10/01/2026
	JCP Investment Partnership, LP, By: JCP Investment Management, LLC, Investment Manager, By: /s/ James C. Pappas, Managing Member	10/01/2026
	JCP Investment Partners, LP, By: JCP Investment Holdings, LLC, General Partner, By: /s/ James C. Pappas, Sole Member	10/01/2026
	JCP Investment Holdings, LLC, By: /s/ James C. Pappas, Sole Member	10/01/2026
	/s/ James C. Pappas	10/01/2026
	** 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)