Form 4: Comtech Telecommunications Corp: Director Mark R. Quinlan Reports Changes in Beneficial Ownership

Director Mark R. Quinlan reports changes in beneficial ownership of Comtech Telecommunications Corp. securities, including conversions and acquisitions of Series B-2 and B-3 Convertible Preferred Stock.

Summary

• Mark R. Quinlan, a director of Comtech Telecommunications Corp, filed a Form 4 detailing changes in his beneficial ownership of company securities.
• The transactions involve Series B-2 and Series B-3 Convertible Preferred Stock.
• On March 3, 2025, Quinlan converted 30,917.54 shares of Series B-2 Convertible Preferred Stock into an equal number of Series B-3 Convertible Preferred Stock.
• Additionally, 29.84 shares of Series B-3 Convertible Preferred Stock were acquired as 'March 2025 Additional Shares'.
• The conversion price for both series is $7.99 per share, subject to potential adjustments for Series B-3.
• The reported securities are held by funds managed by White Hat Capital Partners LP, where Quinlan serves as co-managing member.
• Quinlan disclaims beneficial ownership of the securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't inherently convey positive or negative sentiment, but rather reports factual transactions.

Future Outlook

The Issuer has the right to designate any business day after July 22, 2027 as a conversion date for all or any portion that is a whole number of the outstanding shares of Series B-2 and B-3 Convertible Preferred Stock.

Management Comments

• The Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. This filing indicates changes in the holdings of a director, which can be of interest to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The conversion and acquisition of preferred stock could potentially impact the capital structure of the company.

Key Dates

Keywords

Form 4, Beneficial Ownership, Convertible Preferred Stock, Series B-2, Series B-3, Comtech Telecommunications, CMTL, Quinlan, White Hat Capital