Trinity Capital (TRIN) director adds to company shareholding

Rhea-AI Filing Summary

Trinity Capital Inc. director Ronald E. Estes reported open-market purchases of the company’s common stock. He bought 105 shares at $14.80 per share on March 9, 2026 and 500 shares at $14.75 per share on March 11, 2026. After these transactions, he directly holds 39,643.209 common shares and also has 10,172 shares held indirectly through The Estes Revocable Trust. The direct holdings include 3,443 restricted shares scheduled to vest on the earlier of June 12, 2026 or the date immediately preceding the next annual meeting of stockholders.

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

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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^*

Estes Ronald E.

(Last) (First) (Middle)

C/O TRINITY CAPITAL INC.

1 N. 1ST STREET, SUITE 302

(Street)

PHOENIX AZ 85004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Trinity Capital Inc. [ TRIN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 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	03/09/2026		P		105	A	$14.8	39,143.209(1)(2)	D
Common Stock	03/11/2026		P		500	A	$14.75	39,643.209(1)(2)	D
Common Stock								10,172	I	By The Estes Revocable Trust, dated January 12, 1990

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

Explanation of Responses:

1. Includes 3,443 restricted shares issued under the Trinity Capital Inc. 2019 Non-Employee Director Restricted Stock Plan, as amended. Such restricted shares shall vest in full on the earlier of (1) June 12, 2026 or (2) the date immediately preceding the next annual meeting of stockholders.

2. Includes shares acquired pursuant to broker dividend reinvestment program that reinvests Trinity Capital Inc. dividends on substantially similar terms as those of Trinity Capital Inc.'s distribution reinvestment plan ("DRIP").

Remarks:

Sarah Stanton is signing on behalf of Mr. Estes pursuant to the power of attorney dated March 11, 2021, which was previously filed with the Securities and Exchange Commission as an exhibit to the Form 4 Mr. Estes filed on March 12, 2021.

	/s/ Sarah Stanton, on behalf of Ronald E. Estes	03/11/2026
	** 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).
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FAQ

What insider transaction did Ronald E. Estes report for Trinity Capital (TRIN)?

Ronald E. Estes reported buying Trinity Capital common stock in the open market. He purchased 105 shares at $14.80 on March 9, 2026 and 500 shares at $14.75 on March 11, 2026, increasing his overall direct ownership position in the company.

How many Trinity Capital shares does Ronald E. Estes own after these transactions?

After the reported purchases, Ronald E. Estes directly owns 39,643.209 Trinity Capital common shares. In addition, a separate holding entry shows 10,172 shares held indirectly through The Estes Revocable Trust, giving him both direct and trust-based exposure to the company’s stock.

What restricted Trinity Capital shares does Ronald E. Estes hold and when do they vest?

His direct holdings include 3,443 restricted Trinity Capital shares issued under the 2019 Non-Employee Director Restricted Stock Plan. These restricted shares will vest in full on the earlier of June 12, 2026 or the date immediately preceding the company’s next annual meeting of stockholders, whichever comes first.

How are dividend reinvestments reflected in Ronald E. Estes’s Trinity Capital holdings?

His share count includes stock acquired through a broker dividend reinvestment program. That program reinvests Trinity Capital dividends into additional shares on substantially similar terms to the company’s distribution reinvestment plan, so some of his reported holdings accumulated automatically rather than through separate cash purchases.

What is the nature of Ronald E. Estes’s indirect ownership in Trinity Capital (TRIN)?

The filing shows 10,172 Trinity Capital common shares held indirectly by The Estes Revocable Trust, dated January 12, 1990. This means a portion of his economic interest is held through a trust structure, separate from his directly owned shares reported in his individual name.