Ryan Steelberg purchases 366,300 VERI shares at $2.73 each
Rhea-AI Filing Summary
Ryan Steelberg, who is listed as President and CEO, a director and a 10% owner of Veritone, Inc. (VERI), purchased common stock under a securities purchase agreement for a gross aggregate price of $1.0 million. The purchase price was fixed on August 12, 2025 at the consolidated closing bid of $2.73 per share, and the filing shows an issuance of 366,300 shares in connection with that agreement.
The Form 4 discloses Steelberg reports indirect interests through The RSS Living Trust and through RVH, LLC (of which he is the sole manager and member). The form was signed on August 13, 2025, and notes the securities purchase agreement dated June 30, 2025. The transaction became reportable under Section 16 when the purchase price was fixed.
Positive
- Insider purchase: Reporting person acquired 366,300 shares under a securities purchase agreement for a $1.0 million aggregate price.
- Price transparency: Purchase price fixed at the consolidated closing bid of $2.73 per share on August 12, 2025.
Negative
- Ownership clarity: Reporting person disclaims beneficial ownership of trust-held shares except for pecuniary interest, which may limit clarity on voting/dispositive control.
Insights
TL;DR: Insider bought $1.0M of VERI shares (366,300) at $2.73, increasing his economic stake.
The acquisition is a straightforward securities purchase under a June 30, 2025 agreement that fixed price on August 12, 2025. The filing documents 366,300 shares issued for a gross purchase price of $1.0 million at the closing bid of $2.73. This increases Ryan Steelberg's reported economic exposure to VERI alongside existing indirect holdings via The RSS Living Trust and RVH, LLC. For investors, an insider-funded purchase of this size can be interpreted as insider accumulation, though the form does not provide commentary on financing sources or strategic intent.
TL;DR: Disclosure is complete on the transaction, but trust/LLC holdings and disclaimer affect beneficial-ownership clarity.
The Form 4 clearly describes the securities purchase agreement, the mechanics of the issuance, and the reporting person's roles. It also states that Steelberg is trustee of The RSS Living Trust and sole manager/member of RVH, LLC, which holds shares. Importantly, the filing includes a disclaimer that the reporting person disclaims beneficial ownership of trust-held shares except to the extent of pecuniary interest. That disclaimer is standard but reduces clarity on voting and dispositive power for some holdings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 366,300 | $2.73 | $1000K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The shares were issued pursuant to a securities purchase agreement, dated June 30, 2025, between the Issuer and the Reporting Person, pursuant to which the Reporting Person agreed to purchase from the Issuer, and the Issuer agreed to issue and sell to the Reporting Person, shares of the Issuer's common stock for a gross aggregate offering price of $1.0 million, at a price per share equal to the greater of (i) $1.41 (representing the consolidated closing bid price of the Issuer's common stock on June 27, 2025) and (ii) the consolidated closing bid price of the Issuer's common stock on the date that is the second full trading day after the date on which the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 is filed with the SEC. In accordance with SEC rules, the transaction became reportable pursuant to Section 16 of the Securities Exchange Act upon the fixing of the purchase price on August 12, 2025. The price is equal to the consolidated closing bid price of the Issuer's common stock on August 12, 2025. Reporting person is the trustee of The RSS Living Trust dated April 6, 2012 and, as such, reporting person may be deemed a beneficial owner of such shares. Reporting person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Shares are held by RVH, LLC, a limited liability company. Reporting person is the sole manager and member of RVH, LLC.
