SCHEDULE: Hut 8 Corp. Beneficial Ownership Update Filed

Michael Ho files Schedule 13D amendment detailing beneficial ownership of Hut 8 Corp. common stock, including recent settlement of performance stock units.

Summary

• Michael Ho has filed an amendment (Amendment No. 2) to the Schedule 13D regarding Hut 8 Corp. common stock.
• This filing supplements previous statements and primarily addresses changes in beneficial ownership.
• The reporting person, Michael Ho, now beneficially owns 7,843,779 shares, representing 6.45% of the class of securities.
• This ownership percentage is based on 120,037,556 shares outstanding as of November 2, 2026, plus 1,517,367 shares received in settlement of performance stock units (PSUs).
• The PSUs were originally granted on November 2, 2025, and vested on November 2, 2026, upon achievement of defined market capitalization levels.
• Settlement of these PSUs was to occur no later than March 15, 2027, at the Issuer's discretion.
• The reporting person paid related tax withholdings in cash and is generally required to hold these shares for two years post-vesting.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, primarily reflecting routine updates on beneficial ownership and share settlement rather than significant strategic shifts or performance indicators.

Positives

• The reporting person has acquired additional shares through the settlement of performance stock units, indicating alignment with company performance targets.
• The settlement of PSUs suggests that certain market capitalization levels were achieved, which could be viewed positively for shareholder value.
• The reporting person has paid tax withholdings in cash, avoiding the need to sell shares to cover these obligations.

Negatives

• The filing does not provide any financial performance data or operational updates, limiting insight into the company's current health.
• The requirement to hold shares for two years post-vesting implies a lock-up period, potentially limiting immediate liquidity for the reporting person.

Risks

• The filing does not explicitly mention any new risks or changes to existing risk factors.
• The reliance on market capitalization levels for PSU vesting introduces a risk tied to stock price performance.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding the company's future performance. It primarily focuses on reporting past transactions and current ownership status.

Management Comments

• The filing states that 'Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by the Reporting Person that such person is the beneficial owner of any of the shares of Common Stock referred to herein for purposes of the Act, or for any other purpose.'

Industry Context

StockSavvy.ai notes that this filing is a routine Schedule 13D amendment, typical for significant beneficial owners or insiders updating their holdings. It does not provide insights into the broader cryptocurrency mining or digital asset industry trends that Hut 8 Corp. operates within.

Comparison to Industry Standards

• No specific financial or operational data is provided in this filing to allow for comparison against industry standards or competitors.
• The filing is a disclosure document related to ownership, not a performance report.

Stakeholder Impact

• Shareholders: The update confirms a significant beneficial owner's holdings and potential future selling pressure if the two-year holding period is considered.
• Management/Insiders: The settlement of PSUs indicates performance-based compensation was met, potentially impacting insider equity.

Next Steps

• The reporting person is generally required to hold the newly acquired shares for a period of two years following the vesting date (November 2, 2026).

Key Dates

Keywords

Schedule 13D, Beneficial Ownership, Hut 8 Corp., Performance Stock Units, Common Stock, SEC Filing, Michael Ho