Form 4: Greenidge Director Krug Receives Equity Grant

Greenidge Generation Holdings Inc. Director Christopher J. Krug was granted 22,500 restricted stock units for his service on a special committee.

Summary

• Christopher J. Krug, a Director of Greenidge Generation Holdings Inc. (GREE), acquired 22,500 Class A Common Stock shares in the form of Restricted Stock Units (RSUs).
• The transaction occurred on November 9, 2025, and was reported on November 17, 2025.
• The RSUs were granted pursuant to the Issuer's Third Amended and Restated 2021 Equity Incentive Plan for service as a member of a special committee of the Board of Directors.
• Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock, with a vesting period of six months after the grant date.
• Following this transaction, Christopher J. Krug directly beneficially owns 174,107 Class A Common Stock shares and indirectly owns 250,000 Class A Common Stock shares through CHC Fund Partners I LP.
• The Form 4 filing was submitted late due to an inadvertent administrative oversight, not an error by the Reporting Person.

Sentiment

Score: 6

Explanation: Slightly positive. The grant of equity to a director aligns interests with shareholders, which is generally viewed favorably. The late filing is a minor administrative issue.

Positives

• The grant of 22,500 Restricted Stock Units to Director Christopher J. Krug aligns his interests with long-term shareholder value.
• The equity grant is part of the Issuer's Third Amended and Restated 2021 Equity Incentive Plan, indicating a structured approach to executive compensation.

Negatives

• The Form 4 was filed late due to an administrative oversight, which, while explained, indicates a minor procedural lapse.

Risks

• An administrative oversight led to a late filing of the Form 4, which could indicate minor internal control weaknesses in reporting procedures.

Future Outlook

The grant of Restricted Stock Units, which vest six months after the grant date, indicates a future increase in direct beneficial ownership for Director Christopher J. Krug, reinforcing his long-term stake in the company's performance.

Management Comments

• The Form 4 is being filed late due to an inadvertent administrative oversight and not any error of the Reporting Person.

Industry Context

This Form 4 filing details an insider transaction, specifically an equity grant to a director. Such grants are a common practice across industries to incentivize and align the interests of management and directors with shareholders, particularly in the technology and energy sectors where Greenidge Generation Holdings operates.

Comparison to Industry Standards

• NA This filing reports an insider transaction (Form 4) and does not contain information suitable for comparison to industry project or company performance benchmarks.

Corporate Governance

Related Party Transactions

• Christopher J. Krug's indirect beneficial ownership of 250,000 Class A Common Stock shares through CHC Fund Partners I LP is noted.

Stakeholder Impact

• Shareholders: Increased director ownership through equity grants can signal stronger alignment of management interests with shareholder value creation.
• Employees: The equity incentive plan provides a framework for compensation that can extend to other key personnel, potentially impacting employee retention and motivation.

Next Steps

• The 22,500 Restricted Stock Units are expected to vest six months after the grant date of November 9, 2025.

Key Dates

Keywords

Greenidge Generation Holdings Inc., GREE, Christopher J. Krug, Restricted Stock Units, RSUs, Insider Transaction, Form 4, Equity Incentive Plan, Director Compensation