Form 4: Pineapple Financial COO and 10% Owner Increases Stake with Recent Share Purchases

Kendall Leo Marin, COO and a 10% owner of Pineapple Financial Inc., has significantly increased his direct beneficial ownership through multiple common share purchases totaling 55,500 shares in late June and early July 2025.

Summary

• Kendall Leo Marin, who serves as Director, COO, and a 10% owner of Pineapple Financial Inc. (PAPL), reported multiple direct purchases of common shares.
• On June 27, 2025, 19,500 common shares were acquired at a weighted average price of $0.095 per share.
• On June 30, 2025, an additional 18,000 common shares were purchased at a weighted average price of $0.094 per share.
• On July 01, 2025, 4,000 common shares were acquired at a price of $0.1 per share.
• On July 02, 2025, 14,000 common shares were purchased at a price of $0.1 per share.
• The total number of common shares acquired across these transactions is 55,500.
• Following these transactions, Kendall Leo Marin's direct beneficial ownership of common shares increased to 2,272,823.
• The reported purchase prices ranged from $0.085 to $0.10 per share.
• The total beneficial ownership excludes 126,652 stock options and 25,651 warrants held by the reporting person.
• Stock options, granted on November 03, 2023, are exercisable at $3.60 per share and vest over two years, with 25% vesting on the grant date and the remainder vesting in equal installments every six months thereafter.

Sentiment

Score: 7

Explanation: The COO and a 10% owner's decision to increase direct shareholdings indicates confidence, although the low purchase price relative to existing option exercise prices suggests a significant decline in the company's stock value since the options were granted.

Positives

• A key executive and 10% owner, Kendall Leo Marin, increased his direct beneficial ownership by purchasing 55,500 common shares, signaling confidence in the company's future prospects.
• The consistent buying activity over several days indicates a deliberate strategy to increase stake.

Negatives

• The purchase prices for common shares (ranging from $0.085 to $0.10) are significantly lower than the $3.60 exercise price of stock options granted to the reporting person in November 2023, indicating a substantial decline in the company's stock value since the options were issued.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may view the insider purchases as a positive signal of management's confidence in the company's prospects, potentially leading to increased investor interest.

Key Dates

Recommendation

Keywords

Pineapple Financial Inc., PAPL, SEC Form 4, insider trading, beneficial ownership, share purchase, Kendall Marin, COO, director, 10% owner, equity, common shares