Large Markowitz family trusts stake disclosed in VASO Corp (VASO)

Rhea-AI Filing Summary

VASO Corp's common stock has a major holder, with Joshua Markowitz reporting beneficial ownership of 56,088,318 shares, or 31.9% of the outstanding stock, through a mix of direct holdings, family trusts, and majority-owned companies.

The shares include 7,569,595 in a Non-GST Exempt Trust, 4,639,430 in a GST Exempt Trust, 25,714,286 held by Kerns Manufacturing Company, 17,815,007 held by Living Data Technology Corp., and 350,000 held directly. Markowitz acquired 50,000 shares with personal funds and received 300,000 as board compensation. Co-trustee Stacey Markowitz reports 12,209,025 shares, or 6.9%, via the same trusts. The holdings are described as being for investment purposes, with no transactions in the last 60 days.

Insights

Equity ownership & governance analyst

Large insider-linked stake concentrates voting power but is described as investment-focused.

Joshua Markowitz reports beneficial ownership of 56,088,318 VASO Corp shares, equal to 31.9% of the common stock as of March 27, 2026. This stake is spread across family trusts, Kerns Manufacturing Company, Living Data Technology Corp., and direct holdings.

The structure gives Markowitz shared voting and dispositive power over trust shares as co-trustee, and influence via majority ownership of Kerns and Living Data. Co-trustee Stacey Markowitz reports 12,209,025 shares, or 6.9%, reflecting her indirect interest through the trusts.

The filing states the shares were acquired for investment purposes and notes no transactions in the last 60 days. Future company filings may clarify whether this sizeable combined stake leads to any changes in corporate governance or strategic direction.

Key Figures

Joshua Markowitz beneficial ownership: 56,088,318 shares Joshua Markowitz ownership percentage: 31.9% Stacey Markowitz beneficial ownership: 12,209,025 shares +5 more

8 metrics

Joshua Markowitz beneficial ownership 56,088,318 shares Aggregate beneficially owned; Item 11 cover page

Joshua Markowitz ownership percentage 31.9% Percent of VASO common stock class represented

Stacey Markowitz beneficial ownership 12,209,025 shares Aggregate beneficially owned; Item 11 cover page

Stacey Markowitz ownership percentage 6.9% Percent of VASO common stock class represented

Shares held by Kerns Manufacturing Company 25,714,286 shares Directly beneficially owned by Kerns; Markowitz majority owner

Shares held by Living Data Technology Corp. 17,815,007 shares Directly beneficially owned by Living Data; Markowitz majority owner

Shares outstanding 175,953,035 shares Vaso common stock outstanding as of March 27, 2026

Joshua Markowitz direct holdings 350,000 shares Direct beneficial ownership including 300,000 granted as board compensation

Key Terms

beneficial ownership, dispositive power, Schedule 13D, trustee, +2 more

6 terms

beneficial ownership financial

"As such, he may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the Trusts."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

dispositive power financial

"Joshua Markowitz is a co-trustee of the Trusts and as a result, shares voting and dispositive power over the Shares held by the Trusts."

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this , and is filing this schedule because of §§ 240.13d-1(e)..."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

trustee financial

"Decisions with respect to the shares held in the Trusts are made by majority vote of the Trustees."

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

percent of class financial

"Percent of class represented by amount in Row (11) 31.9 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

source of funds financial

"Source of funds (See Instructions) PF,"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

VASO Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

(CUSIP Number)

Kimberly J. Decker
Barley Snyder LLP, 126 East King Street
Lancaster, PA, 17601
717-299-5201

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

12/19/2018

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Joshua Markowitz

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 350,000.00
8	Shared Voting Power 55,738,318.00
9	Sole Dispositive Power 350,000.00
10	Shared Dispositive Power 55,738,318.00

11

Aggregate amount beneficially owned by each reporting person

56,088,318.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(1) The total reported in Row 11 consists of: (i) 7,569,595 shares of the Issuer's Common Stock directly beneficially owned by the Joshua Markowitz Family Article Four (C) Non GST Exempt Trust (the "Non-Exempt Trust") of which Mr. Markowitz is co-trustee; (ii) 4,639,430 shares of the Issuer's Common Stock directly beneficially owned by the Joshua Markowitz Family Article Four (C) GST Exempt Trust (the "Exempt Trust" and, collectively with the Non-Exempt Trust, the "Trusts") of which Mr. Markowitz is co-trustee; (iii) 25,714,286 shares owned by Kerns Manufacturing Company of which Mr. Markowitz is majority owner and President; and (iv) 17,815,007 shares owned by Living Data Technology Corp., of which Mr. Markowitz is majority owner. Decisions with respect to the shares held in the Trusts are made by majority vote of the Trustees. As a Trustee, Mr. Markowitz may be deemed to have indirect beneficial ownership of securities held by the Trusts and shared power to vote or dispose of those shares. Decisions with respect to the shares held by Kerns Manufacturing Company and Living Data Technology Corp. are made by their respective boards of directors. As majority owner of Kerns Manufacturing Company and Living Data Technology Corp., Mr. Markowitz may be deemed to have indirect beneficial ownership of the securities held by those companies and shared power to vote and dispose of such shares. (2) The percentage reported in Row 13 is calculated in accordance with Rule 13(d)-3(d)(1)(i) and based on an aggregate total of 175,953,035 shares of the Issuer's Common Stock outstanding as of March 27, 2026, as reported by the Issuer in its Annual Report for the period ended December 31, 2025, filed on Form 10-K with the SEC on March 31, 2026.

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Stacey Markowitz

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,209,025.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,209,025.00

11

Aggregate amount beneficially owned by each reporting person

12,209,025.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(3) The total reported in Row 11 consists of: (i) 7,569,595 shares of the Issuer's Common Stock directly beneficially owned by the Joshua Markowitz Family Article Four (C) Non GST Exempt Trust (the "Non-Exempt Trust") of which Ms. Markowitz is co-trustee; and (ii) 4,639,430 shares of the Issuer's Common Stock directly beneficially owned by the Joshua Markowitz Family Article Four (C) GST Exempt Trust (the "Exempt Trust" and, collectively with the Non-Exempt Trust, the "Trusts") of which Ms. Markowitz is co-trustee. Decisions with respect to the shares held in the Trust are made by majority vote of the Trustees. As a Trustee, Ms. Markowitz may be deemed to have indirect beneficial ownership of securities held by the Trusts.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: VASO Corp
(c)	Address of Issuer's Principal Executive Offices: 137 Commercial Street, Suite 200, Plainview, NEW YORK , 11803.
Item 2.	Identity and Background
(a)	This Schedule 13D is being filed by the Trustees and the Trusts (collectively, the "Reporting Person"). Except as described herein, no Reporting Person is a member of any group within the meaning of Section 13(d)(3) of the Exchange Act.
(b)	The principal business address for the Trusts is 37-14 29th street Long Island City NY 11101. The principal business address for Joshua Markowitz is Kerns Manufacturing Corporation ("Kerns"), 37-14 29th St, Long Island City, NY 11101. The principal business address for Stacey Markowitz is 1834 Stuart Road West, Princeton, NJ 08540.
(c)	The principal occupation of Joshua Markowitz is President of Kerns, the business address of which is 37-14 29th St, Long Island City, NY 11101. The principal occupation of Stacey Markowitz is a real estate owner/manager.
(d)	No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	No Reporting Person has during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal or state securities laws or finding any violations with respect to such laws.
(f)	The situs of the Trust is New York. Joshua Markowitz and Stacey Markowitz are each a United States citizen.
Item 3.	Source and Amount of Funds or Other Consideration
	As of the date of this report, the Non Exempt Trust was the direct beneficial owner of 7,569,595 Shares and the Exempt Trust was the direct beneficial owner of 4,639,430 Shares. Joshua Markowitz is a co-trustee of the Trusts and as a result, shares voting and dispositive power over the Shares held by the Trusts. As such, he may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the Trusts. The Shares in the Trusts were placed into trust, and the trustees appointed, by the estate of Judith Srybrnik. As of the date of this report, Kerns directly beneficially owns 25,714,286 Shares and Living Data Technology Corp. ("Living Data") owns 17,815,007 Shares. Mr. Markowitz is majority owner of both Kerns and Living Data. He is the President of Kerns. As such, he may be deemed to have indirect beneficial ownership of the securities held by those companies. Decisions with respect to the Shares held by Kerns Manufacturing Company and Living Data Technology Corp. are made by their respective boards of directors. As of the date of this report, Mr. Markowitz was the direct beneficial owner of 350,000 Shares and, as explained above, may be deemed to have indirect beneficial ownership of the securities directly beneficially owned by the Trusts due to his status as a co-trustee. Mr. Markowitz acquired 50,000 Shares using his own funds and an additional 300,000 Shares were granted to him as compensation by the Issuer for board service.
Item 4.	Purpose of Transaction
	The Reporting Person acquired the Shares for investment purposes.
Item 5.	Interest in Securities of the Issuer
(a)	For information regarding beneficial ownership of each Reporting Person, see items 7-11 of the cover page for each Reporting Person on this Schedule 13D. The voting and dispositive power reported on the cover pages reflect the respective direct and indirect ownership and control relationships described herein.
(b)	For information regarding beneficial ownership of each Reporting Person, see items 7-11 of the cover page for each Reporting Person on this Schedule 13D.
(c)	No Reporting Person has engaged in any transactions in the Issuer's securities in the past 60 days.
(d)	Mr. Markowitz and his daughter, Jessica Markowitz, are beneficiaries of the Trusts and as such, they each have the power to receive dividends and the proceeds from the sale of such securities as determined by the Trustees, in their discretion.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	No Reporting Person has entered into any contracts, arrangements, understandings or relationships with respect to securities of the Issuer except as described herein.

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.

Joshua Markowitz

Signature:	/s/ Joshua Markowitz
Name/Title:	Joshua Markowitz
Date:	04/09/2026

Stacey Markowitz

Signature:	/s/ Stacey Markowitz
Name/Title:	Stacey Markowitz
Date:	04/09/2026

FAQ

How many VASO (VASO) shares does Joshua Markowitz beneficially own?

Joshua Markowitz reports beneficial ownership of 56,088,318 VASO shares. This represents 31.9% of VASO Corp’s common stock, held through family trusts, majority-owned companies Kerns Manufacturing and Living Data Technology Corp., plus 350,000 shares owned directly, including 300,000 granted as board compensation.

What percentage of VASO (VASO) does Stacey Markowitz report owning?

Stacey Markowitz reports beneficial ownership of 12,209,025 VASO shares. This equals 6.9% of the company’s common stock, all held indirectly through two family trusts where she serves as co-trustee, sharing voting and dispositive power with the other trustees over those shares.

How are the VASO (VASO) shares held by the Markowitz family structured?

The Markowitz stake in VASO is spread across trusts, companies, and direct holdings. Two family trusts hold 12,209,025 shares, Kerns Manufacturing Company holds 25,714,286 shares, Living Data Technology Corp. holds 17,815,007 shares, and Joshua Markowitz directly owns 350,000 shares.

What is the stated purpose of the VASO (VASO) share holdings reported in this Schedule 13D?

The reporting persons state they acquired VASO shares for investment purposes. The filing does not describe specific corporate actions or activist plans, and it notes that no reporting person has engaged in transactions in VASO securities during the 60 days preceding the report.

How many VASO (VASO) shares are outstanding according to the filing?

The filing bases ownership percentages on 175,953,035 VASO shares outstanding. This outstanding share count is taken from VASO Corp’s Annual Report for the period ended December 31, 2025, which was filed on Form 10-K and referenced to calculate the reported ownership percentages.

Did the reporting persons trade VASO (VASO) stock in the last 60 days?

The filing states no reporting person traded VASO securities in the past 60 days. It explicitly notes that there have been no transactions in the issuer’s securities by any reporting person during that period, indicating the reported positions are unchanged over that recent timeframe.