Form 4: Bridgeline Digital CEO Kahn Reports Stock Award, Tax Sale

Bridgeline Digital's President and CEO, Roger E. Kahn, reported the acquisition of 169,429 restricted shares and the disposition of 57,098 shares for tax purposes.

Summary

• Roger E. Kahn, President and CEO, Director, and 10% Owner of Bridgeline Digital, Inc. (BLIN), reported changes in his beneficial ownership.
• On September 30, 2025, Mr. Kahn acquired 169,429 shares of Common Stock as a restricted stock award under the Issuer's 2025 Stock Incentive Plan.
• This restricted stock award will vest in twelve equal installments over twelve quarters, commencing with the first fiscal quarter following the grant date.
• On the same date, Mr. Kahn disposed of 57,098 shares of Common Stock at a price of $1.32 per share, likely for tax withholding related to the restricted stock award.
• Following these transactions, Mr. Kahn directly beneficially owns 1,409,120 shares of Common Stock.
• Additionally, 544 shares are indirectly beneficially owned by his spouse, for which Mr. Kahn disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to the restricted stock award, which aligns management's interests with shareholders, despite a routine tax-related disposition.

Positives

• The acquisition of 169,429 restricted shares aligns management's interests with shareholders, incentivizing long-term performance.
• The restricted stock award is part of the company's 2025 Stock Incentive Plan, indicating a structured approach to executive compensation and retention.

Negatives

• The disposition of 57,098 shares, even if for tax purposes, represents a reduction in the direct beneficial ownership of the CEO.

Risks

• No specific risks related to the company's operations or financial health were disclosed in this Form 4 filing, which primarily reports insider transactions.

Future Outlook

The restricted stock award granted to Roger E. Kahn is scheduled to vest in twelve equal installments over a period of twelve quarters, commencing with the first fiscal quarter following the grant date, indicating a long-term incentive structure.

Management Comments

• Roger E. Kahn disclaims beneficial ownership of the securities held by his spouse, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for the purpose of Section 16 or for any other purpose.

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide information on broader industry trends or competitive landscape. Such filings are routine for publicly traded companies when executives receive equity awards or conduct personal stock transactions.

Comparison to Industry Standards

• NA

Related Party Transactions

• The reported transactions involve Roger E. Kahn, the President and CEO, Director, and 10% Owner of Bridgeline Digital, Inc., making them related party transactions.

Stakeholder Impact

• Shareholders gain insight into executive compensation and insider ownership changes, which can influence perceptions of management's commitment and alignment with company performance.

Next Steps

• The restricted stock award will begin its vesting schedule in the first fiscal quarter following the grant date, continuing over the next twelve quarters.

Key Dates

Keywords

Bridgeline Digital, BLIN, Roger E. Kahn, Form 4, Insider Transaction, Restricted Stock Award, Stock Incentive Plan, CEO, Director, 10% Owner, Equity Compensation