Royalty swapped for Series J preferred at Catheter Precision (VTAK)

Rhea-AI Filing Summary

Catheter Precision, Inc. chairman and CEO David A. Jenkins reported two Form 4 transactions involving Series J Preferred Stock. The Series J shares were issued under an exchange agreement that cancels an accrued royalty amount and terminates a royalty right in return for this preferred stock, as described in a related Form 8-K. Jenkins holds 2,491.293 Series J shares directly and 6,998.195 Series J shares indirectly through FatBoy Capital LP, whose general partner is SeaCap Management LLC, where he is managing member. The Series J Preferred Stock is not exercisable until stockholder approval is received and it has no expiration date.

Insights

Equity structure analyst

Royalty rights were exchanged for new Series J preferred shares.

The transactions show David A. Jenkins and an affiliated partnership receiving Series J Preferred Stock in exchange for cancelling an accrued royalty and terminating a royalty right. This restructures an existing economic arrangement into an equity-linked instrument.

The Series J Preferred Stock is not exercisable until stockholders approve it, and it has no expiration date, so any conversion or exercise effects depend on a future vote. Part of the holding is indirect, through FatBoy Capital LP via SeaCap Management LLC, concentrating these rights with entities associated with the CEO.

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
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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^*

JENKINS DAVID A

(Last) (First) (Middle)

1670 HIGHWAY 160 WEST

SUITE 205

(Street)

FORT MILL SC 29708

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Catheter Precision, Inc. [ VTAK ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman of the Board and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2026

4. 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 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
Series J Preferred Stock	$1.56	02/12/2026		J(1)		2,491.293		(2)	(3)	Common Stock	1,596,983	(4)	2,491.293	D
Series J Preferred Stock	$1.56	02/12/2026		J(1)		6,998.195		(2)	(3)	Common Stock	4,486,022	(4)	6,998.195	I	See Footnote(5)

Explanation of Responses:

1. Series J Exchange Agreement entered into with the Company to cancel accrued royalty amount and terminate royalty right in exchange for Series J Preferred Stock, as more fully described in the Current Report on Form 8-K filed with the Securities and Exchange Commission on February 12, 2026 (the "Form 8-K").

2. Series J Preferred Stock is not exercisable until stockholder approval is received, as more fully described in the Form 8-K.

3. Series J Preferred Stock has no expiration date.

4. The consideration and price paid for the Series J Preferred Stock is more fully described in the Form 8-K.

5. Mr. Jenkins is the managing member of SeaCap Management LLC, the general partner of FatBoy Capital LP.

	/s/ David A Jenkins	02/18/2026
	** 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 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.

FAQ

What did Catheter Precision (VTAK) CEO David Jenkins report in this Form 4?

He reported two transactions involving Series J Preferred Stock. The stock was received under an exchange agreement that cancels an accrued royalty amount and terminates a royalty right in return for Series J Preferred Stock described in a related Form 8-K.

How many Series J Preferred shares does David Jenkins hold after these transactions in VTAK?

After the transactions, he holds 2,491.293 Series J Preferred shares directly and 6,998.195 shares indirectly. The indirect holdings are through FatBoy Capital LP, whose general partner is SeaCap Management LLC, where he serves as managing member.

What is the purpose of the Series J Exchange Agreement for Catheter Precision (VTAK)?

The agreement exchanges an accrued royalty amount and terminates a royalty right in return for Series J Preferred Stock. This converts a royalty-based economic claim into preferred equity, with additional details described in a related Current Report on Form 8-K.

When can the Series J Preferred Stock reported for VTAK be exercised or converted?

The Series J Preferred Stock is not exercisable until stockholder approval is received. This means the preferred shares currently cannot be exercised or converted, and effectiveness is contingent on a future stockholder vote described in the Form 8-K.

Does the Series J Preferred Stock in Catheter Precision (VTAK) have an expiration date?

No, the Series J Preferred Stock has no expiration date. This gives the holder an open-ended timeframe for potential exercise or conversion, subject to receiving required stockholder approval as referenced in the related Form 8-K.

How are David Jenkins’s indirect Series J holdings in Catheter Precision (VTAK) structured?

Indirect holdings are through FatBoy Capital LP, with SeaCap Management LLC as its general partner. David Jenkins is the managing member of SeaCap Management LLC, so the Form 4 attributes these indirect Series J Preferred holdings to entities associated with him.