[Form 4] XBP Europe Holdings, Inc. Warrant Insider Trading Activity

Rhea-AI Filing Summary

Andrej Jonovic, Chief Executive Officer and Director of XBP Global Holdings, Inc. (XBP), purchased 50,000 shares of the issuer's common stock on 08/18/2025 at a weighted-average price of $0.6369 per share. After the transaction, Mr. Jonovic beneficially owned 1,632,000 shares. The filing states the reported price is a weighted average of multiple purchases at prices ranging from $0.6158 to $0.6500 and offers to provide detailed per-trade information on request. The Form 4 is signed and dated 08/19/2025 by the reporting person.

Positive

• CEO purchase of 50,000 shares indicates management buying equity.
• Beneficial ownership increased to 1,632,000 shares, showing a meaningful insider stake.
• Transparent pricing disclosure with weighted-average price and range ($0.6158–$0.6500) and offer to provide detailed trade allocation.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider CEO bought 50,000 shares at a weighted average $0.6369, increasing meaningful insider stake to 1.632M shares.

This open-market purchase by the CEO signals management confidence in the company's equity at current prices and increases his direct beneficial ownership materially. The weighted-average price range ($0.6158–$0.6500) indicates multiple executions rather than a single block trade, which can smooth market impact. For investors, an insider purchase of this size from a CEO is a constructive governance signal, though the filing contains no commentary on the intent or funding source for the purchases.

Corporate Governance Expert

TL;DR: CEO/director acquisition follows reporting rules; disclosure is complete on price range and willingness to provide granular details.

The Form 4 discloses role, transaction date, share count, and a clear explanation that the price is a weighted average of multiple trades. Signature and offer to provide detailed allocation by price enhance transparency and compliance. The filing does not indicate a 10b5-1 plan or other trading program, so this appears to be an open-market purchase rather than planned systematic trading.

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
Estimated average burden
hours per response:			0.5

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^*

Jonovic Andrej

(Last) (First) (Middle)

C/O XBP GLOBAL HOLDINGS, INC.

6641 N. BELT LINE ROAD, SUITE 100

(Street)

IRVING TX 75063

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
XBP Global Holdings, Inc. [ XBP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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
Common Stock, par value $0.0001 per share	08/18/2025		A		50,000	A	$0.6369(1)	1,632,000	D

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $0.6158 to $0.6500, inclusive. The reporting person undertakes to provide XBP Global Holdings, Inc., any security holder of XBP Global Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

	/s/ Andrej Jonovic	08/19/2025
	** 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 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 XBP CEO Andrej Jonovic report on Form 4 (XBP)?

The filing reports a purchase of 50,000 shares on 08/18/2025 at a weighted-average price of $0.6369, increasing beneficial ownership to 1,632,000 shares.

At what prices were the XBP shares purchased according to the Form 4?

The Form 4 states the shares were bought in multiple transactions at prices ranging from $0.6158 to $0.6500, with a weighted-average of $0.6369.

Does the Form 4 indicate the transaction was part of a Rule 10b5-1 trading plan?

No. The filing does not check or state that the trades were made pursuant to a Rule 10b5-1(c) plan; it presents as open-market purchases.

How can I get more detail on the per-trade prices for the XBP purchase?

The reporting person offers to provide XBP Global Holdings, any security holder, or the SEC staff with full information on the number of shares purchased at each separate price within the disclosed range.

When was the Form 4 signed and filed for this XBP transaction?

The Form 4 is signed by /s/ Andrej Jonovic and dated 08/19/2025.