Array Digital Infrastructure gets 5.1% Hawk Ridge stake

The reported position represents 5.1% of AD’s common-share class, with voting and disposition power reported as shared rather than sole.

Rhea-AI Filing Summary

ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) is the issuer named in a Schedule 13G reporting 2,728,548 common shares as beneficially owned by the reporting persons, equal to 5.1% of the class.

All reported shares are directly owned by Hawk Ridge Master Fund LP. Hawk Ridge Management LLC is the fund’s general partner, and Hawk Ridge Capital Management LP is its investment manager; Hawk Ridge Capital Management GP LLC is the holding company of those entities. They may be deemed to beneficially own the shares, as may David Graham Brown, identified as Hawk Ridge’s principal. The reporting parties disclaim beneficial ownership except to the extent of their pecuniary interest, if any. They report shared voting and disposition power over 2,728,548 shares and no sole voting or disposition power.

Key Figures

Beneficial ownership: 2,728,548 shares Percent of class: 5.1% Shared voting power: 2,728,548 shares +1 more

4 metrics

Beneficial ownership 2,728,548 shares Reported amount for the common-share class

Percent of class 5.1% Reported beneficial ownership

Shared voting power 2,728,548 shares Reported by the reporting persons

Shared dispositive power 2,728,548 shares Reported by the reporting persons

Key Terms

beneficially owned, Shared voting power, Shared power to dispose, pecuniary interest

4 terms

beneficially owned financial

"Amount beneficially owned: 2,728,548"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared voting power financial

"Shared voting power 2,728,548.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared power to dispose financial

"Shared power to dispose or to direct the disposition"

pecuniary interest financial

"except to the extent of its or his pecuniary interest"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many AD shares did the Schedule 13G report?

The reporting persons disclosed beneficial ownership of 2,728,548 common shares, or 5.1% of the class. All reported shares are directly owned by Hawk Ridge Master Fund LP.

Who directly owns the reported AD shares?

Hawk Ridge Master Fund LP directly owns all 2,728,548 reported shares. Hawk Ridge-related entities and David Graham Brown may also be deemed to beneficially own them.

Who has voting and disposition power over the AD shares?

The reporting persons reported shared voting power and shared dispositive power over 2,728,548 shares, with zero sole voting power and zero sole dispositive power.

What role does David Graham Brown have in the AD Schedule 13G?

David Graham Brown is identified as Hawk Ridge’s principal and may be deemed to beneficially own the reported securities. He disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/23/2026 - 12:17 PM Accepted by SEC EDGAR 09/23/2026 - 12:16 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ARRAY DIGITAL INFRASTRUCTURE, INC.

(Name of Issuer)

Common Shares, $1 Par Value

(Title of Class of Securities)

911684108

(CUSIP Number)

09/16/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 911684108

1

Names of Reporting Persons

HAWK RIDGE CAPITAL MANAGEMENT LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,728,548.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,728,548.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,728,548.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 911684108

1

Names of Reporting Persons

Hawk Ridge Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,728,548.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,728,548.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,728,548.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 911684108

1

Names of Reporting Persons

Hawk Ridge Capital Management GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,728,548.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,728,548.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,728,548.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): 911684108

1

Names of Reporting Persons

Hawk Ridge Master Fund LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,728,548.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,728,548.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,728,548.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 911684108

1

Names of Reporting Persons

Brown David Graham

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,728,548.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,728,548.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,728,548.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ARRAY DIGITAL INFRASTRUCTURE, INC.
(b)	Address of issuer's principal executive offices: 500 WEST MADISON STREET, SUITE 810, CHICAGO, ILLINOIS, 60661.
Item 2.
(a)	Name of person filing: Hawk Ridge Capital Management LP Hawk Ridge Management LLC Hawk Ridge Capital Management GP LLC Hawk Ridge Master Fund LP Brown David Graham
(b)	Address or principal business office or, if none, residence: 12121 Wilshire Blvd. Suite 900, Los Angeles CA 90025
(c)	Citizenship: Hawk Ridge Capital Management LP - Delaware Hawk Ridge Management LLC - Delaware Hawk Ridge Capital Management GP LLC - Delaware Hawk Ridge Master Fund LP - Delaware Brown David Graham - United States
(d)	Title of class of securities: Common Shares, $1 Par Value
(e)	CUSIP Number(s): 911684108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,728,548
(b)	Percent of class: 5.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 2,728,548
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2,728,548 All of the reported securities are directly owned by Hawk Ridge Master Fund LP. Hawk Ridge Management LLC and Hawk Ridge Capital Management LP as the general partner and investment manager, respectively, of the master fund with authority to vote and dispose of all of the shares held by the master fund, and Hawk Ridge Capital Management GP LLC as the holding company of the general partner and investment manager (collectively "Hawk Ridge") may be deemed to beneficially own the reported securities. David Brown also may be deemed to beneficially own the reported securities as the principal of Hawk Ridge. Hawk Ridge and Mr. Brown each disclaims beneficial ownership of the reported securities, except to the extent of its or his pecuniary interest in such securities, if any.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

HAWK RIDGE CAPITAL MANAGEMENT LP

Signature:	Justine Leung
Name/Title:	GC/CCO
Date:	09/23/2026

Hawk Ridge Management LLC

Signature:	Justine Leung
Name/Title:	GC/CCO
Date:	09/23/2026

Hawk Ridge Capital Management GP LLC

Signature:	Justine Leung
Name/Title:	GC/CCO
Date:	09/23/2026

Hawk Ridge Master Fund LP

Signature:	Justine Leung
Name/Title:	GC/CCO
Date:	09/23/2026

Brown David Graham

Signature:	David Graham Brown
Name/Title:	Managing Member
Date:	09/23/2026