[Form 4] Trinity Capital Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ronald Kundich, Chief Credit Officer of Trinity Capital Inc. (TRINZ), reported a routine Section 16 transaction. On 09/15/2025 he had 4,037 shares withheld at a price of $16.02 to satisfy tax obligations tied to the vesting of restricted shares. After that withholding, he beneficially owns 213,146 shares directly. The transaction is coded F(1) and is described as exempt from Section 16(b) under Rule 16b-3 because it relates to withholding on vesting. The Form 4 was signed on behalf of Mr. Kundich by Sarah Stanton on 09/18/2025.

Insights

Securities/Fundamental Analyst

TL;DR: Routine tax-withholding on vested restricted shares; no new purchases or sales affecting stake significantly.

The Form 4 documents a common administrative action where 4,037 restricted shares were withheld at $16.02 to cover tax liabilities upon vesting. Such withholdings reduce outstanding personal holdings but do not represent a market sale or a change in ownership intent. The remaining direct beneficial ownership of 213,146 shares should be used when assessing current insider holdings. The filing cites Rule 16b-3 exemption, confirming this is a compensatory-plan related adjustment rather than a discretionary trade.

Corporate Governance Expert

TL;DR: Administrative withholding consistent with company equity compensation practices; governance implications are minimal.

This disclosure indicates the company administers equity compensation via restricted shares that vest and are subject to tax-withholding. The transaction code and Rule 16b-3 exemption align with standard practice for insiders receiving compensation. The report is timely and executed by an authorized signee, which supports routine compliance with Section 16 reporting requirements. There is no indication of unusual timing or policy change in this filing.

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).

1. Name and Address of Reporting Person^*

Kundich Ronald

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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	09/15/2025		F(1)		4,037	D	$16.02	213,146	D

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. Shares withheld to satisfy the reporting person's tax obligations in connection with vesting of restricted shares on September 15, 2025. Transaction exempt from Section 16(b) pursuant to Rule 16b-3.

Remarks:

Sarah Stanton is signing on behalf of Mr. Kundich pursuant to the power of attorney dated September 17, 2021, which was previously filed with the Securities and Exchange Commission as an exhibit to the Form 4 Mr. Kundich filed on September 17, 2021.

	/s/ Sarah Stanton, on behalf of Ron Kundich	09/18/2025
	** 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.

FAQ

What transaction did Trinity Capital (TRINZ) insider Ron Kundich report on Form 4?

The Form 4 reports that 4,037 shares were withheld at $16.02 on 09/15/2025 to satisfy tax obligations from the vesting of restricted shares.

How many Trinity Capital shares does Ron Kundich beneficially own after the transaction?

After the withholding, Mr. Kundich beneficially owns 213,146 shares directly.

Why was the transaction exempt from Section 16(b)?

The filing states the transaction is exempt under Rule 16b-3, which applies to transactions related to compensatory equity plans such as withholding on vesting restricted shares.

Who signed the Form 4 for Ron Kundich and when was it signed?

The Form 4 was signed on behalf of Mr. Kundich by Sarah Stanton on 09/18/2025.

What role does Ron Kundich hold at Trinity Capital?

The Form 4 lists Mr. Kundich as Chief Credit Officer and indicates he is an officer of the issuer.