Vision Marine director lists option on 1 share

Vision Marine Technologies Inc. (VMAR) reported the initial beneficial ownership of director Philippe Couillard on a Form 3.

Rhea-AI Filing Summary

Vision Marine Technologies Inc. (VMAR) reported the initial beneficial ownership of director Philippe Couillard on a Form 3. The filing lists a derivative position consisting of options linked to 1.0000 common share, with an exercise price of 18,522,000.0000 and an expiration date of December 29, 2028, held as a direct ownership position.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Couillard Philippe

Role Director

Type	Security	Shares	Price	Value
holding	Options	--	--	--

Holdings After Transaction: Options — 1 contracts (Direct)

Key Figures

Underlying common shares: 1.0000 share Shares beneficially owned following holding entry: 1.0000 share Exercise price: 18,522,000.0000 +2 more

5 metrics

Underlying common shares 1.0000 share Underlying security shares for the options reported for Philippe Couillard

Shares beneficially owned following holding entry 1.0000 share Total shares following the reported derivative holding entry

Exercise price 18,522,000.0000 Exercise price reported for the options on VMAR common shares

Expiration date 2028-12-29 Options expiration date for the derivative position held by Philippe Couillard

Exercise date 2024-09-29 Exercise date field associated with the reported options position

Key Terms

Form 3, beneficial ownership, underlying security, derivative position

4 terms

Form 3 regulatory

"INSIDER FILING DATA (Form 3)"

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

beneficial ownership financial

"reported the initial beneficial ownership of director Philippe Couillard"

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.

underlying security financial

"underlying_security_title": "Common Share""

derivative position financial

"derivative position consisting of options linked to 1.0000 common share"

A derivative position is an investor’s current holding in one or more financial contracts whose value is derived from an underlying asset, index, interest rate, or credit instrument — for example options, futures, or swaps. It matters because derivative positions can change an investor’s exposure, risk, and potential obligations without owning the underlying asset, like using a levered or insurance-like tool; they affect margin, cash flow and the overall risk profile of a portfolio.

FAQ

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

What does VMAR’s Form 3 filing report for Philippe Couillard?

The Form 3 for VMAR reports director Philippe Couillard’s initial beneficial ownership, showing a derivative position in options tied to 1.0000 common share, held directly.

How many shares are covered by Philippe Couillard’s options in VMAR?

The options reported for Philippe Couillard relate to 1.0000 underlying common share of Vision Marine Technologies Inc. (VMAR), with 1.0000 share shown as beneficially owned following the reported holding entry.

What is the exercise price of Philippe Couillard’s VMAR options?

The Form 3 shows an exercise price of 18,522,000.0000 for the options held by director Philippe Couillard, as reported in the derivative position information for Vision Marine Technologies Inc. (VMAR).

When do Philippe Couillard’s VMAR options expire?

The options held by Philippe Couillard related to VMAR common shares have an expiration date of December 29, 2028, according to the derivative position details in the Form 3 filing.

Is Philippe Couillard’s VMAR options position held directly or indirectly?

The Form 3 indicates that Philippe Couillard’s options position in VMAR, covering 1.0000 underlying common share, is held as a direct ownership interest, with ownership code “D.”

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

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Available on EDGAR 09/01/2026 - 02:19 PM EDT Accepted by SEC EDGAR 09/01/2026 - 02:18 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Couillard Philippe

(Last) (First) (Middle)

730 BOULEVARD DU CURE-BOIVIN

(Street)

BOISBRIAND J7G 2A7

(City) (State) (Zip)

QUEBEC, CANADA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
09/01/2026

3. Issuer Name and Ticker or Trading Symbol
Vision Marine Technologies Inc. [ VMAR ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options	09/29/2024	12/29/2028	Common Share	1	$18,522,000	D

Explanation of Responses:

	/s/ Couillard Philippe	09/01/2026
	** 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 5 (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.
* Form 3: SEC 1473 (03-26)