Initial Form 3: Director/10% Owner Discloses 750,000 VMAR Shares

Rhea-AI Filing Summary

Vision Marine Technologies Inc. (VMAR) received an initial Form 3 from Lincoln Alternative Strategies LLC reporting beneficial ownership of common stock. The filing shows Lincoln Alternative Strategies LLC directly owns 750,000 shares of common stock. The reporting person is identified with an address in Miami Beach, FL, and checked relationship roles that include Director and 10% owner. The event requiring the statement is dated 08/15/2025, and the form was signed by Stephen Temes on 08/27/2025. No derivative securities are reported on Table II.

Insights

Financial Analyst

TL;DR: Routine initial ownership disclosure showing a direct stake of 750,000 shares; no derivatives reported, neutral for valuation.

The Form 3 is a standard Section 16 initial ownership filing. It documents a direct beneficial position of 750,000 common shares by Lincoln Alternative Strategies LLC and identifies the filer as a director and a 10% owner. The absence of derivative holdings means there are no immediate conversion or exercise risks disclosed. For investors, this is a transparency event rather than a performance signal; it records ownership that may be relevant to insider activity monitoring.

Corporate Governance Expert

TL;DR: Initial Form 3 correctly reports insider ownership and roles; procedural and governance-compliance focused, not materially impactful alone.

The filing fulfills Section 16(a) disclosure obligations by reporting the reporting person, mailing address, roles (director and 10% owner as checked), and the direct share count. The signature by Stephen Temes and event/date fields are present, indicating a timely, complete initial statement. There are no disclosures of delegated or indirect ownership structures or derivative instruments on this form, limiting governance complexity in this filing.

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

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1. Name and Address of Reporting Person^*

Lincoln Alternative Strategies LLC

(Last) (First) (Middle)

404 WASHINGTON AVE., SUITE 650

(Street)

MIAMI BEACH FL 33139

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/15/2025

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

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

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

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

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)
Common Stock, no par value per share	750,000	D

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

Explanation of Responses:

	/s/ Stephen Temes	08/27/2025
	** 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 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.

FAQ

How many shares does Lincoln Alternative Strategies LLC report owning in VMAR?

The Form 3 reports 750,000 shares of Vision Marine Technologies Inc. common stock as directly beneficially owned.

When is the event date reported on the Form 3 for VMAR?

The date of the event requiring the statement is listed as 08/15/2025.

What relationship to VMAR is reported by the filing entity?

The filing identifies the reporting person as a Director and a 10% owner of the issuer.

Are any derivative securities (options, warrants, convertibles) disclosed on this Form 3?

No. Table II for derivative securities contains no entries, so no derivatives are reported.

Who signed the Form 3 and when?

The form is signed /s/ Stephen Temes with the signature date of 08/27/2025.