Director Ronald Estes buys Trinity Capital (TRIN) shares in open market trade

Rhea-AI Filing Summary

Trinity Capital Inc. director Ronald E. Estes reported an open-market purchase of 200 shares of common stock at $14.73 per share, increasing his directly held stake to 39,038.209 shares. This direct position includes 3,443 restricted shares scheduled to vest in full by the earlier of June 12, 2026 or the date immediately preceding the next annual stockholder meeting. He also reports indirect ownership of 10,172 shares through The Estes Revocable Trust, and some holdings include shares acquired via a dividend reinvestment program.

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)
03/03/2026

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	03/03/2026		P		200	A	$14.73	39,038.209(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	03/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

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

Ronald E. Estes reported buying 200 Trinity Capital common shares in the open market at $14.73 per share. This Form 4 filing reflects a modest net purchase and updates his reported direct and indirect ownership positions in the company’s stock.

How many Trinity Capital (TRIN) shares does Ronald E. Estes now hold directly?

After the reported purchase, Ronald E. Estes holds 39,038.209 Trinity Capital common shares directly. This figure includes previously owned stock plus the 200 newly purchased shares, as well as restricted shares granted under the company’s 2019 Non-Employee Director Restricted Stock Plan.

What is the status of Ronald E. Estes’s restricted Trinity Capital (TRIN) shares?

Ronald E. Estes holds 3,443 restricted Trinity Capital shares issued under the 2019 Non-Employee Director Restricted Stock Plan. These restricted shares will vest in full on June 12, 2026, or on the date immediately before the next annual stockholder meeting, whichever occurs first.

Does Ronald E. Estes have indirect ownership of Trinity Capital (TRIN) stock?

Yes. In addition to his direct holdings, Ronald E. Estes reports indirect ownership of 10,172 Trinity Capital shares. These shares are held by The Estes Revocable Trust dated January 12, 1990, as disclosed in the Form 4 filing’s ownership details.

At what price did Ronald E. Estes buy Trinity Capital (TRIN) shares in this Form 4?

The Form 4 shows Ronald E. Estes purchased 200 Trinity Capital common shares at an average price of $14.73 per share. This was an open-market purchase, categorized under the standard purchase transaction code for non-derivative common stock.

Are any of Ronald E. Estes’s Trinity Capital (TRIN) shares from a dividend reinvestment program?

Yes. The footnotes explain that some reported shares were acquired through a broker dividend reinvestment program. That program reinvests Trinity Capital dividends on terms substantially similar to the company’s distribution reinvestment plan, contributing additional shares over time.