Form 4: 10% Owners Divest CREX Shares

Multiple entities associated with Pegasus Capital Advisors, including 10% owners, sold over 1.4 million shares of Creative Realities, Inc. common stock.

Summary

• Reporting persons, including Slipstream Communications, LLC and Slipstream Funding, LLC, sold 1,425,485 shares of Creative Realities, Inc. (CREX) common stock.
• The transaction occurred on January 6, 2026, at a price of $2.52 per share, after accounting for discounts and commissions.
• Following this transaction, Slipstream Funding, LLC and Slipstream Communications, LLC no longer directly beneficially own any shares.
• The reporting persons are identified as Directors and 10% Owners of Creative Realities, Inc.
• The sale was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 3

Explanation: The sale of a significant block of shares by 10% owners and directors, even if pre-planned, typically signals a negative sentiment or a belief that the stock is fully valued by these insiders. The complete divestment of direct holdings by the primary selling entities further reinforces this negative signal.

Negatives

• Significant divestment of 1,425,485 shares by entities identified as 10% owners and directors.
• The sale price of $2.52 per share might indicate a valuation point for these insiders.
• The complete divestment of direct holdings by Slipstream Funding, LLC and Slipstream Communications, LLC following the transaction.

Risks

• Potential negative market perception due to significant insider selling by 10% owners and directors.
• Reduced alignment of interests between these large shareholders/directors and other shareholders following the divestment.

Future Outlook

NA

Management Comments

• Each of Slipstream Funding, Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

Industry Context

Insider selling, especially by significant shareholders and directors, can be interpreted by the market as a lack of confidence in the company's future prospects or that the stock has reached a peak valuation. This is a common signal investors monitor across all industries.

Related Party Transactions

• Sale of 1,425,485 shares of Creative Realities, Inc. common stock by Slipstream Communications, LLC and Slipstream Funding, LLC, which are affiliated with Pegasus Capital Advisors, L.P. and Craig Cogut, all identified as 10% owners and directors.

Stakeholder Impact

• Shareholders: May perceive the sale as a negative signal, potentially leading to downward pressure on the stock price.
• Management/Employees: Could face questions regarding the company's future prospects given the significant insider divestment.

Key Dates

Recommendation

The significant sale of 1,425,485 shares by 10% owners and directors, resulting in a complete divestment of direct holdings by the primary selling entities, signals a lack of confidence or a belief that the stock is fully valued by these insiders. While the transaction was made pursuant to a Rule 10b5-1 plan, the sheer volume and the status of the sellers as significant stakeholders and directors suggest a negative outlook. Investors should consider this a strong bearish signal, indicating potential downward pressure on the stock price.

Keywords

CREATIVE REALITIES INC, CREX, Insider Sale, Form 4, 10% Owner, Director, Stock Sale, Pegasus Capital, Slipstream Communications, Slipstream Funding, Rule 10b5-1