Form 4: Strive CFO Converts Stock, Manages Tax Obligations

Strive, Inc.'s Chief Financial Officer, Benjamin Pham, converted restricted stock and units into Class B Common Stock and had shares withheld for tax purposes, increasing his direct beneficial ownership.

Summary

• Benjamin Pham, Chief Financial Officer and Director of Strive, Inc., engaged in multiple transactions involving the conversion and settlement of derivative securities on October 1, 2025.
• Pham converted 212,930 shares of Restricted Class B Common Stock into Class B Common Stock.
• He also settled 1,359,496 Restricted Stock Units (RSUs) into Class B Common Stock.
• A total of 534,153 shares of Class B Common Stock were withheld by Strive, Inc. to satisfy tax withholding obligations related to the vesting and settlement of the Restricted Stock Units, at a price of $2.5 per share.
• Following these transactions, Benjamin Pham directly beneficially owns 4,019,291 shares of Class B Common Stock.
• The Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis under specific conditions or at the reporting person's election.
• The vesting schedule for both Restricted Stock and Restricted Stock Units involves 25% vesting on the first anniversary of the commencement date, with the remainder vesting in 12 substantially equal quarterly installments, contingent on continued employment.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The transactions reflect the vesting of executive compensation, leading to an increase in direct beneficial ownership by a key executive, which aligns management's interests with shareholders. The tax withholding is a standard, non-discretionary event.

Positives

• Benjamin Pham's direct beneficial ownership of Class B Common Stock increased to 4,019,291 shares, indicating continued alignment of executive interests with shareholders.
• The transactions represent the vesting and conversion of equity compensation, a standard practice that rewards long-term executive performance.

Negatives

• 534,153 shares of Class B Common Stock were withheld for tax obligations, which is a necessary disposition but reduces the total number of shares beneficially owned compared to if no taxes were due.

Future Outlook

The filing details past transactions related to equity compensation and does not provide specific forward-looking statements or guidance regarding company performance or strategy.

Management Comments

• The Reporting Person did not voluntarily sell any shares of Class A Common Stock or Class B Common Stock in connection with the reported transactions.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions related to executive compensation and does not provide broader industry context or trends. It reflects standard equity compensation practices within publicly traded companies.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased direct beneficial ownership by a key executive may be viewed positively as it strengthens alignment between management and shareholder interests.
• Employees: The vesting schedule for restricted stock and units reinforces the importance of continued employment for equity compensation realization.

Next Steps

• Continued vesting of remaining Restricted Stock and Restricted Stock Units according to the established schedule, contingent on Benjamin Pham's continued employment.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to the vesting and conversion of equity compensation, along with necessary tax withholding. It does not present new information regarding the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. While the increase in direct beneficial ownership by a key executive is generally a positive signal of alignment, it is a compensation-driven event rather than a discretionary investment, thus maintaining a 'hold' recommendation.

Keywords

Strive, ASST, Benjamin Pham, CFO, Form 4, Insider Transaction, Stock Conversion, Restricted Stock Units, RSU, Class B Common Stock, Class A Common Stock, Equity Compensation, Tax Withholding