Trinity Capital director buys 1,500 shares at $15.15 and $15.08

Trinity Capital Inc. director Ronald E. Estes reported purchasing additional company common stock in December 2025.

Rhea-AI Filing Summary

Trinity Capital Inc. director Ronald E. Estes reported purchasing additional company common stock in December 2025. He bought 500 shares on December 12 at $15.15 per share and 1,000 shares on December 15 at a weighted-average price of $15.08, increasing his direct ownership stake.

Following these transactions, Estes directly beneficially owned 38,443.696 shares, including 3,443 restricted shares issued under the Trinity Capital Inc. 2019 Non-Employee Director Restricted Stock Plan that will vest in full on the earlier of June 12, 2026 or the date immediately preceding the next annual meeting of stockholders. He also indirectly beneficially owned 10,172 shares through The Estes Revocable Trust dated January 12, 1990.

Insider Trade Summary

Net Buyer: 1,500 shares

Net Buy 3 txns

Insider Estes Ronald E.

Role Director

Bought 1,500 shs ($23K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,000	$15.08	$15K
Purchase	Common Stock	500	$15.15	$8K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 38,443.696 shares (Direct); Common Stock — 10,172 shares (Indirect, By The Estes Revocable Trust, dated January 12, 1990)

Footnotes (2)

1. F1. 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. F2. The price reported in Column 4 is a weighted-average price, rounded to the nearest hundredth. These shares were purchased in multiple transactions at prices ranging from $15.05 to $15.10 per share, inclusive. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, Trinity Capital Inc. (the "Company"), or a security holder of the Company, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

FAQ

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What insider transaction did Trinity Capital (TRIN) disclose in this Form 4?

The filing shows that director Ronald E. Estes purchased Trinity Capital Inc. common stock in two transactions in December 2025, totaling 1,500 shares.

On what dates did Ronald E. Estes buy Trinity Capital (TRIN) shares and at what prices?

Estes bought 500 shares of common stock on December 12, 2025 at $15.15 per share, and 1,000 shares on December 15, 2025 at a weighted-average price of $15.08 per share.

How many Trinity Capital (TRIN) shares does Ronald E. Estes beneficially own after these trades?

After the reported transactions, Estes directly beneficially owned 38,443.696 shares of Trinity Capital common stock and indirectly owned 10,172 shares through The Estes Revocable Trust.

What restricted stock does Ronald E. Estes hold in Trinity Capital (TRIN)?

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

How are some of Ronald E. Estes Trinity Capital (TRIN) shares held indirectly?

Estes indirectly beneficially owned 10,172 shares of Trinity Capital common stock through The Estes Revocable Trust dated January 12, 1990.

Who signed the Form 4 for Trinity Capital (TRIN) director Ronald E. Estes?

Sarah Stanton signed the form on behalf of Ronald E. Estes pursuant to a previously granted power of attorney dated March 11, 2021.

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Accepted by SEC EDGAR 12/16/2025 - 04:30 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^*

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)
12/12/2025

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	12/12/2025		P		500	A	$15.15	37,443.696(1)	D
Common Stock	12/15/2025		P		1,000	A	$15.08(2)	38,443.696(1)	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. The price reported in Column 4 is a weighted-average price, rounded to the nearest hundredth. These shares were purchased in multiple transactions at prices ranging from $15.05 to $15.10 per share, inclusive. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, Trinity Capital Inc. (the "Company"), or a security holder of the Company, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

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	12/16/2025
	** 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.