Form 4: BETR CAO Converts, Sells Shares

Better Home & Finance Holding Co's CAO, Nicholas J. Calamari, converted Class B to Class A shares and subsequently sold a portion of his holdings.

Summary

• Nicholas J. Calamari, CAO and Senior Counsel of Better Home & Finance Holding Co (BETR), reported transactions on September 4, 2025.
• Converted a total of 17,419 shares of Class B Common Stock into Class A Common Stock at a price of $0 per share.
• The conversions included 2,446 shares indirectly through the Anika G Austin Descendants Trust, 2,446 shares indirectly through the Nicholas J. Calamari Family Trust, and 12,527 shares held directly.
• Sold a total of 17,419 shares of Class A Common Stock.
• Sales included 2,420 shares at a weighted average price of $21.8557 and 26 shares at $22.68, both indirectly through the Anika G Austin Descendants Trust.
• Further sales included 2,420 shares at a weighted average price of $21.8557 and 26 shares at $22.68, both indirectly through the Nicholas J. Calamari Family Trust.
• Direct sales comprised 12,394 shares at a weighted average price of $21.8557 and 133 shares at $22.68.
• Following these transactions, beneficial ownership includes 26 Class A shares and 22,012 Class B shares indirectly via the Anika G Austin Descendants Trust, 26 Class A shares and 22,012 Class B shares indirectly via the Nicholas J. Calamari Family Trust, and 9,451 Class A shares and 115,033 Class B shares held directly.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions (conversions and sales) by a company officer. While sales can sometimes be viewed negatively, these are common for liquidity or tax planning and do not inherently indicate a change in company fundamentals or outlook based solely on this filing.

Future Outlook

No forward-looking statements or guidance are provided in this filing, which is a report of past insider transactions.

Industry Context

This Form 4 filing details specific insider trading activity for Better Home & Finance Holding Co and does not provide broader industry context or trends.

Related Party Transactions

• Transactions were conducted indirectly through the Anika G Austin Descendants Trust and the Nicholas J. Calamari Family Trust, both of which the reporting person has voting and dispositive power over, and are for the benefit of the reporting person's spouse and children.

Stakeholder Impact

• Shareholders may note the insider sale, which could be interpreted in various ways, but the overall impact is likely minimal unless it signals a broader trend or is unusually large relative to the officer's total holdings or company market capitalization.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions involving conversions and sales of Class A and Class B common stock by a company officer. While insider sales can sometimes raise questions, these transactions are often for personal liquidity or tax planning and do not, on their own, provide sufficient information to alter a fundamental investment thesis. Without additional context on the company's performance, market conditions, or a broader pattern of insider selling, a 'hold' recommendation is appropriate as this filing alone does not present a strong case for buying or selling.

Keywords

Better Home & Finance, BETR, Nicholas J. Calamari, Insider Transaction, Form 4, Stock Sale, Equity Conversion, Class A Common Stock, Class B Common Stock