Visium Technologies CFO receives $4,200 in preferred shares
The CFO and Interim Principal's preferred shares convert into 84,000 common shares at 20 shares per preferred share, subject to adjustment.
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Visium Technologies, Inc. (VISM) reports that CFO and Interim Principal, director and ten percent owner Mark Burdon Lucky received 4,200 shares of Series D Convertible Preferred Stock on April 16, 2026, in settlement of $4,200 of working-capital advances and unreimbursed expenses owed to him. Each preferred share has a $1.00 stated value and converts at any time into 20 common shares, subject to adjustment; 84,000 common shares are issuable upon conversion. The company also granted him 3.6 million common shares as restricted stock awards on May 4, 2023, as compensation for services.
Insider Trade Summary
Net Buyer: 266,905 shares
Net Buy
31 txns
Insider
Lucky Mark Burdon
Role
CFO and Interim Principal
Bought
266,905 shs ($8K)
Increase in Position
5.9%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Series D Convertible Preferred Stock F5 | 4,200 | -- | -- |
| Purchase | Common Stock F8 | 10,000 | $0.0182 | $182.00 |
| Purchase | Common Stock F9, F7 | 50,000 | $0.0192 | $960.00 |
| Purchase | Common Stock F10 | 10,000 | $0.0134 | $134.00 |
| Purchase | Common Stock F10 | 24,900 | $0.0134 | $333.66 |
| Purchase | Common Stock F7 | 20,000 | $0.0169 | $338.00 |
| Purchase | Common Stock F8 | 10,000 | $0.01 | $100.00 |
| Purchase | Common Stock F8 | 11,000 | $0.0095 | $104.50 |
| Purchase | Common Stock F8 | 7,500 | $0.0087 | $65.25 |
| Purchase | Common Stock F10 | 79,605 | $0.0097 | $772.17 |
| Purchase | Common Stock F8 | 25,000 | $0.013 | $325.00 |
| Grant/Award | Common Stock F2, F3 | 3,600,000 | $0.00 | $0.00 |
| Purchase | Common Stock F8 | 200 | $0.1379 | $27.58 |
| Purchase | Common Stock F8, F7 | 1,300 | $0.1485 | $193.05 |
| Purchase | Common Stock F10 | 500 | $0.1483 | $74.15 |
| Purchase | Common Stock F8 | 2,000 | $0.199 | $398.00 |
| Purchase | Common Stock F8 | 1,000 | $0.215 | $215.00 |
| Purchase | Common Stock F8 | 200 | $0.21 | $42.00 |
| Purchase | Common Stock F8 | 1,000 | $0.2181 | $218.10 |
| Purchase | Common Stock F8 | 500 | $0.2231 | $111.55 |
| Purchase | Common Stock F8 | 1,000 | $0.2341 | $234.10 |
| Purchase | Common Stock F8 | 100 | $0.2135 | $21.35 |
| Purchase | Common Stock F7, F10 | 1,100 | $0.205 | $225.50 |
| Purchase | Common Stock F10 | 1,000 | $0.2122 | $212.20 |
| Purchase | Common Stock F10 | 1,000 | $0.2724 | $272.40 |
| Purchase | Common Stock F10 | 1,000 | $0.448 | $448.00 |
| Purchase | Common Stock F10 | 1,000 | $0.2692 | $269.20 |
| Purchase | Common Stock F10 | 5,000 | $0.276 | $1K |
| Purchase | Common Stock F8 | 1,000 | $0.4505 | $450.50 |
| Grant/Award | Common Stock F3, F1, F6 | 600,000 | $0.00 | $0.00 |
| Grant/Award | Series AA Convertible Preferred Stock F4 | 1 | $0.00 | $0.00 |
| Holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series AA Convertible Preferred Stock — 1 contracts (Direct);
Series D Convertible Preferred Stock — 4,200 contracts (Direct);
Common Stock — 10,000 shares (Indirect, By living trust (XXX192));
Common Stock — 115,105 shares (Indirect, By living trust (XXX818));
Common Stock — 4,684,527 shares (Direct);
Common Stock — 180 shares (Indirect, By trusts)
Holdings Before and After:
Series AA Convertible Preferred Stock, 0 to 1 contracts (Direct);
Series D Convertible Preferred Stock, 0 to 4,200 contracts (Direct);
Common Stock, 0 to 10,000 shares (Indirect, By living trust (XXX192));
Common Stock, 0 to 115,105 shares (Indirect, By living trust (XXX818));
Common Stock, 342,727 to 4,684,527 shares (Direct)
Footnotes (10)
- F1. Late report. This report covers transactions that the Reporting Person did not report on time under Section 16(a). The Reporting Person's last Section 16 report was the Form 4 filed September 1, 2021. All share amounts give effect to the Issuer's 1-for-1,350 reverse split of its common stock, recorded by the transfer agent on September 29, 2022.
- F2. This is the date the shares were issued by the Issuer's transfer agent.
- F3. Restricted stock awards. These shares were granted by the Issuer as compensation for services as an executive officer and director. No price was paid. The grant-date fair value is reported in the Issuer's Forms 10-K for fiscal 2023 through 2026
- F4. Series AA. One share of Series AA Convertible Preferred Stock was issued to the Reporting Person on March 22, 2018, with the approval of the Board of Directors, as compensation for services as Chief Executive Officer. The issuance is exempt under Rule 16b-3(d). The series was designated by the Board on February 26, 2018, in Articles of Amendment filed with the Florida Department of State on March 5, 2018. The share converts into one share of common stock and has no expiration date. As designated, it carried votes equal to 51% of the votes of the common stock. Since Articles of Amendment filed March 11, 2026, the Series AA, voting as a class, holds 51% of the total voting power, shared pro rata among the outstanding Series AA shares. No price was paid.
- F5. Series D. 4,200 shares of Series D Convertible Preferred Stock (stated value $1.00 per share) were issued on April 16, 2026, the date the Certificate of Designation adopted by the Board on April 14, 2026 was filed with the Florida Department of State, in settlement of $4,200 of working-capital advances and unreimbursed expenses owed to the Reporting Person. The issuance was approved by the Board of Directors and is exempt under Rule 16b-3(d). Each share converts at any time into 20 shares of common stock, subject to adjustment, and has no expiration date.
- F6. Opening balance. Immediately before the October 18, 2022 transaction, the Reporting Person held 342,727 shares of common stock directly, acquired from the Issuer as compensation for services: 336,112 of record with the transfer agent and 6,615 in brokerage accounts. This balance reflects transactions from September 2021 through September 2022 that have not been separately reported; they will be reported in an amendment to this Form 4. The Reporting Person's Schedule 13D filed May 1, 2026 reported beneficial ownership of 119,602,561 shares of common stock. The correct figure was 119,662,868 shares (119,662,688 directly and 180 through trusts), plus 84,000 shares issuable on conversion of Series D and one share issuable on conversion of Series AA. Amendment No. 1 to the Schedule 13D is being filed on the date of this report.
- F7. The price shown is a weighted average. These shares were bought in multiple transactions on the same day at prices ranging as follows: 12/06/2022, $0.2051 to $0.2057; 04/12/2023, $0.1483 to $0.1485; 09/15/2023, $0.0149 to $0.0189; 10/05/2023, $0.0163 to $0.0199; 11/10/2023, $0.0124 to $0.0128; 11/21/2023, $0.0190 to $0.0199; 02/06/2024, $0.0148 to $0.0149. The Reporting Person will provide, on request of the SEC staff, the Issuer or a security holder of the Issuer, full information on the number of shares bought at each price
- F8. Held in a joint account of the Reporting Person and his spouse (XXX953).
- F9. Held in the Reporting Person's individual retirement account (XXX746).
- F10. Held in brokerage accounts of two living trusts (XXX192 and XXX818) of which the Reporting Person is trustee and a beneficiary
Key Figures
Series D preferred shares received: 4,200 shares
Settlement amount: $4,200
Stated value: $1.00 per share
+4 more
7 metrics
Series D preferred shares received
4,200 shares
Issued April 16, 2026, in settlement of working-capital advances and unreimbursed expenses
Settlement amount
$4,200
Working-capital advances and unreimbursed expenses owed to the reporting person
Stated value
$1.00 per share
Series D Convertible Preferred Stock
Common shares issuable upon conversion
84,000 shares
Series D Convertible Preferred Stock
Conversion terms
20 common shares per preferred share
Subject to adjustment
Restricted stock awards
3.6 million common shares
Granted May 4, 2023, as compensation for services
Common shares purchased
266,905 shares
Across 27 purchases
Key Terms
Series D Convertible Preferred Stock, Restricted stock awards, Rule 16b-3(d)
3 terms
Series D Convertible Preferred Stock financial
"4,200 shares of Series D Convertible Preferred Stock (stated value $1.00 per share) were issued"
Series D convertible preferred stock is a class of shares issued in a later-stage funding round that gives holders priority over common shareholders for payouts and often a fixed dividend, while including an option to convert those shares into common stock. It matters to investors because it affects who gets paid first if a company is sold or liquidates and can change ownership stakes and voting power when converted, similar to holding a safer ticket that can be exchanged for regular tickets later.
Restricted stock awards financial
"Restricted stock awards. These shares were granted by the Issuer as compensation for services"
Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.
Rule 16b-3(d) regulatory
"The issuance was approved by the Board of Directors and is exempt under Rule 16b-3(d)."
Rule 16b-3(d) is a narrow SEC safe-harbor that shields company insiders (officers, directors and large shareholders) from liability for short‑swing profits when their buys or sells of company stock are made under a pre-established, written plan or contract that removes the insider’s ability to time trades. For investors, this matters because it permits predictable, automated insider transactions — like scheduled sales for diversification or payroll withholding — without triggering forced disgorgement, so such planned trades are treated differently from opportunistic insider trading.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stock award did VISM grant its CFO?
Visium Technologies granted 3.6 million common shares as restricted stock awards on May 4, 2023, for services as an executive officer and director. No price was paid.
AI-generated analysis. How Rhea-AI works. Not financial advice.
