Track Group awards 325K restricted shares to director
Rhea-AI Filing Summary
Track Group, Inc. (TRCK) reported that Denver J. Smith, a director and a person who, together with affiliated entities, may be deemed to beneficially own more than 10% of the common stock, received a grant of 325,000 shares of restricted common stock on August 21, 2026. The award carries no cash exercise price and vests in five equal installments of 65,000 shares on each of April 30, 2027, 2028, 2029, 2030 and 2031. After the reported transactions, Smith holds 325,000 shares directly from this award and has indirect beneficial ownership of 17,555,695 common shares held by CRC Founders Fund, LP, with Carlson Ridge Capital, LLC, Carlson Ridge Capital GP, LLC and Smith each potentially deemed beneficial owners through their roles. Each reporting person disclaims beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 325,000 shares
Grant/Award
2 txns
Insider
Smith Denver Johnson, CRC Founders Fund, LP, Carlson Ridge Capital, LLC, Carlson Ridge Capital GP, LLC
Role
Director, 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1, F2 | 325,000 | $0.00 | $0.00 |
| holding | Common Stock F1, F3 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 325,000 shares (Direct);
Common Stock — 17,555,695 shares (Indirect, By CRC Founders Fund, LP)
Footnotes (3)
- F1. This Form 4 is filed jointly by CRC Founders Fund, LP ("CRC Founders"), Carlson Ridge Capital, LLC ("Carlson Ridge Capital"), Carlson Ridge Capital GP, LLC ("Carlson Ridge GP") and Denver J. Smith (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to beneficially own more than 10% of the Issuer's outstanding shares of Common Stock. Mr. Smith is also a director of the Issuer. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
- F2. Represents an award of restricted stock, of which 65,000 shares vest on each of April 30, 2027, April 30, 2028, April 30, 2029, April 30, 2030 and April 30, 2031.
- F3. Represents securities owned directly by CRC Founders. Carlson Ridge Capital, as the investment manager of CRC Founders, may be deemed to beneficially own the securities owned by CRC Founders. Carlson Ridge GP, as the general partner of CRC Founders, may be deemed to beneficially own the securities owned by CRC Founders. Mr. Smith, as the Managing Member of each of Carlson Ridge Capital and Carlson Ridge GP, may be deemed to beneficially own the securities owned by CRC Founders.
Key Figures
Restricted stock award: 325,000 shares of Common Stock
Vesting tranche size: 65,000 shares
Award price per share: $0.0000 per share
+3 more
6 metrics
Restricted stock award
325,000 shares of Common Stock
Grant/award to Denver J. Smith on August 21, 2026
Vesting tranche size
65,000 shares
Each installment vesting on April 30, 2027, 2028, 2029, 2030 and 2031
Award price per share
$0.0000 per share
Reported transaction price for the restricted stock grant
Direct holdings following award
325,000 shares of Common Stock
Shares held directly by Denver J. Smith after the award
Indirect holdings by CRC Founders Fund, LP
17,555,695 shares of Common Stock
Securities owned directly by CRC Founders Fund, LP and reported as indirectly owned
Beneficial ownership threshold
More than 10% of outstanding shares
Each reporting person may be deemed to beneficially own more than 10% of the issuer’s common stock
Key Terms
restricted stock, beneficially own, pecuniary interest, investment manager, +1 more
5 terms
restricted stock financial
"Represents an award of restricted stock, of which 65,000 shares vest"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
beneficially own financial
"may be deemed to beneficially own more than 10% of the Issuer's"
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.
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest"
investment manager financial
"Carlson Ridge Capital, as the investment manager of CRC Founders, may be deemed"
general partner financial
"Carlson Ridge GP, as the general partner of CRC Founders, may be deemed"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
FAQ
What equity award did Denver J. Smith report receiving from Track Group, Inc. (TRCK)?
Denver J. Smith reported receiving a grant of 325,000 shares of restricted common stock of Track Group, Inc. on August 21, 2026. The filing characterizes this as an award with a transaction price of $0.00 per share.
What indirect holdings in Track Group, Inc. (TRCK) are reported for CRC Founders Fund, LP?
CRC Founders Fund, LP is reported as owning 17,555,695 shares of Track Group common stock. Carlson Ridge Capital, Carlson Ridge Capital GP, and Denver J. Smith may each be deemed to beneficially own these securities through their roles related to CRC Founders.
Does the Form 4 indicate that the TRCK transaction was under a Rule 10b5-1 plan?
No. The document-level Rule 10b5-1 checkbox is not checked, and there is no footnote indicating that the reported transactions were effected under a Rule 10b5-1 or other pre-arranged trading plan.
How much of Track Group, Inc. (TRCK) common stock may the reporting persons be deemed to beneficially own?
The filing states that each of CRC Founders Fund, Carlson Ridge Capital, Carlson Ridge Capital GP, and Denver J. Smith may be deemed to beneficially own more than 10% of Track Group’s outstanding common stock, subject to a disclaimer of beneficial ownership beyond any pecuniary interest.
What ownership disclaimer do the reporting persons make regarding their TRCK holdings?
Each reporting person disclaims beneficial ownership of the reported Track Group securities except to the extent of his or its pecuniary interest in them, as described in the footnotes relating to the joint reporting and indirect ownership structure.
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