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[Form 4] INNOVATE Corp. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4
Insider GLAZER AVRAM A, Avram Glazer Irrevocable Exempt Trust, Glazer Jill H.
Role Director, 10% Owner | 10% Owner | 10% Owner
Bought 0 shs ($0.00)
Sold 0 shs ($0.00)
Type Security Shares Price Value
Sale 7.5% Convertible Senior Notes due 2026 0 $0.00 --
Purchase 9.5% Convertible Senior Notes due 2027 0 $0.00 --
Holdings After Transaction: 7.5% Convertible Senior Notes due 2026 — 0 shares (Indirect, Lancer Capital); 9.5% Convertible Senior Notes due 2027 — 0 shares (Indirect, Lancer Capital)
Footnotes (1)
  1. Convertible Notes are convertible at the option of Lancer Capital into shares of the Company's common stock at the conversion rate of $42.3143. On August 4, 2025, pursuant to that Exchange Agreement dated as of July 17, 2025 by and be-tween Lancer Capital LLC ("Lancer Capital") and the Company, Lancer Capital exchanged $2.0 million in principal amount of the Company's 7.5% Convertible Senior Notes due 2026 (the "Old Convertible Notes"), together with all interest accrued and unpaid thereon, for $2.195 million in principal amount of the Company's 9.5% Convertible Senior Notes due 2027 (the "New Convertible Notes"). The Old Convertible Notes were convertible at the option of Lancer Capital into shares of the Company's common stock at any time until their maturity date (August 1, 2026) at the conversion rate of $42.3143, subject to anti-dilution adjustment. The New Convertible Notes are convertible at the option of Lancer Capital into shares of the Company's common stock at any time until their maturity date (March 1, 2027) at the conversion rate of $42.3143, subject to ant-dilution adjustment. The reported shares are directly beneficially owned by Lancer Capital. The Avram Glazer Irrevocable Exempt Trust (the "Trust") is the sole member of Lancer Capital, and in such capacity may be deemed to beneficially own the shares beneficially owned by Lancer Capital. Mr. Avram A. Glazer is the trustee of the Trust, and in such capacity may be deemed to beneficially own the shares beneficially owned by the Trust. Mrs. Jill H. Glazer is the spouse of Mr. Glazer and in such capacity may be deemed to beneficially own the shares beneficially owned by him.
Form 4 Insider Transactions: What Each Field Means →
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*
GLAZER AVRAM A
(Last) (First) (Middle)
C/O WOODS OVIATT GILMAN LLP
1900 BAUSCH & LOMB PLACE
(Street)
ROCHESTER NY 14604
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
INNOVATE Corp. [ VATE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X 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
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
7.5% Convertible Senior Notes due 2026 $42.3143 08/04/2025 S $2,000,000 02/01/0021 08/01/2026 Common Stock 47,265(1) (2) $0 I Lancer Capital(3)(4)
9.5% Convertible Senior Notes due 2027 $42.3143 08/04/2025 P $2,195,000 08/04/2025 03/01/2027 Common Stock 51,873(1) (2) $2,195,000 I Lancer Capital(3)(4)
1. Name and Address of Reporting Person*
GLAZER AVRAM A
(Last) (First) (Middle)
C/O WOODS OVIATT GILMAN LLP
1900 BAUSCH & LOMB PLACE
(Street)
ROCHESTER NY 14604
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Avram Glazer Irrevocable Exempt Trust
(Last) (First) (Middle)
C/O WOODS OVIATT GILMAN LLP
1900 BAUSCH & LOMB PLACE
(Street)
ROCHESTER NY 14604
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Glazer Jill H.
(Last) (First) (Middle)
C/O WOODS OVIATT GILMAN LLP
1900 BAUSCH & LOMB PLACE
(Street)
ROCHESTER NY 14604
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Convertible Notes are convertible at the option of Lancer Capital into shares of the Company's common stock at the conversion rate of $42.3143.
2. On August 4, 2025, pursuant to that Exchange Agreement dated as of July 17, 2025 by and be-tween Lancer Capital LLC ("Lancer Capital") and the Company, Lancer Capital exchanged $2.0 million in principal amount of the Company's 7.5% Convertible Senior Notes due 2026 (the "Old Convertible Notes"), together with all interest accrued and unpaid thereon, for $2.195 million in principal amount of the Company's 9.5% Convertible Senior Notes due 2027 (the "New Convertible Notes"). The Old Convertible Notes were convertible at the option of Lancer Capital into shares of the Company's common stock at any time until their maturity date (August 1, 2026) at the conversion rate of $42.3143, subject to anti-dilution adjustment. The New Convertible Notes are convertible at the option of Lancer Capital into shares of the Company's common stock at any time until their maturity date (March 1, 2027) at the conversion rate of $42.3143, subject to ant-dilution adjustment.
3. The reported shares are directly beneficially owned by Lancer Capital. The Avram Glazer Irrevocable Exempt Trust (the "Trust") is the sole member of Lancer Capital, and in such capacity may be deemed to beneficially own the shares beneficially owned by Lancer Capital. Mr. Avram A. Glazer is the trustee of the Trust, and in such capacity may be deemed to beneficially own the shares beneficially owned by the Trust.
4. Mrs. Jill H. Glazer is the spouse of Mr. Glazer and in such capacity may be deemed to beneficially own the shares beneficially owned by him.
Remarks:
/s/ Avram A. Glazer 08/06/2025
/s/ Jill H. Glazer 08/06/2025
/s/ Avram A. Glazer, Trustee or The Avram Glazer Irrevocable Exempt Trust 08/06/2025
** 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.

Source: View Original Filing on SEC EDGAR