Form 4: Agrify Corp Chairman Exercises Warrants, Transfers Shares to Trust

Raymond Chang, Chairman and CEO of Agrify Corp, exercised pre-funded warrants and transferred a portion of the resulting shares to the RTC3 2020 Irrevocable Family Trust.

Summary

• On August 30, 2024, Raymond Chang, Chairman and CEO of Agrify Corp, exercised pre-funded warrants through CP Acquisitions, LLC, an affiliated entity.
• The exercise resulted in the acquisition of 5,746,900 shares of Agrify Corp common stock.
• Immediately following the exercise, 4,022,830 of these shares were assigned to the RTC3 2020 Irrevocable Family Trust.
• Chang also indirectly owns 1,578,947 shares through Chinwei Wang, 648 shares through NXT3J Capital, LLC, and directly owns 575 shares.
• After the transaction, Chang indirectly owns 5,739,881 shares through RTC3 2020 Irrevocable Trust.
• Chang disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing transactions by an insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Management Comments

• Raymond Chang disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Industry Context

This filing reflects insider activity related to the exercise of warrants and transfer of shares, which is a common occurrence in publicly traded companies. It provides transparency into the holdings of key executives and their affiliated entities.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the increase in the number of outstanding shares.

Key Dates