Form 4: Pineapple Financial COO and Director Boosts Stake with Significant Share Purchase

Pineapple Financial Inc.'s Chief Operating Officer and Director, Kendall Leo Marin, has acquired 180,000 common shares, increasing his direct beneficial ownership to over 1.84 million shares.

Summary

• Kendall Leo Marin, COO and Director of Pineapple Financial Inc. (PAPL), purchased a total of 180,000 common shares on May 21, 2025.
• The purchases included 178,000 shares at a price of $0.06 per share and an additional 2,000 shares at $0.0555 per share.
• The aggregate value of these acquisitions amounts to $10,791.
• Following these transactions, Mr. Marin's direct beneficial ownership of common shares in Pineapple Financial Inc. increased to 1,841,811 shares.
• In addition to the common shares, Mr. Marin also holds 126,652 stock options and 25,651 warrants.
• The stock options were granted on November 3, 2023, under the 2022 Omnibus Equity Incentive Compensation Plan, 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.

Sentiment

Score: 6

Explanation: The insider purchase by a key executive is generally a positive signal of confidence. However, the very low share price at which the purchase occurred, especially when compared to the significantly higher option exercise price, introduces a negative undertone regarding the company's recent stock performance and valuation.

Positives

• The purchase of 180,000 common shares by a key executive (COO and Director) signals strong insider confidence in the company's future prospects and valuation.
• Increased direct beneficial ownership by management aligns their interests more closely with those of public shareholders, potentially fostering better long-term decision-making.

Negatives

• The share purchase price of $0.06 and $0.0555 is significantly lower than the $3.60 exercise price of options granted in November 2023, indicating a substantial decline in the company's stock price since the option grant.

Risks

• The considerable discrepancy between the current share purchase price and the previously granted option exercise price suggests a significant devaluation of the company's stock, which could point to underlying operational challenges or market concerns that have impacted its valuation.

Future Outlook

NA

Industry Context

This Form 4 filing indicates an insider purchase, which is a common occurrence across various industries. In the financial services sector, particularly for companies like Pineapple Financial Inc. which operates in mortgage and financial technology, insider confidence can be a significant signal to the market, especially given the current economic climate and interest rate environment. While the purchase itself is a positive signal, the low share price relative to historical option grants suggests the company may have faced significant headwinds.

Stakeholder Impact

• Shareholders may view the insider purchase as a positive sign of management's confidence in the company's future, potentially influencing investor sentiment.
• Employees might interpret the insider's increased stake as a sign of stability and commitment from leadership.

Key Dates

Recommendation

Keywords

Pineapple Financial Inc., PAPL, SEC Form 4, Insider Trading, Share Purchase, Beneficial Ownership, Kendall Leo Marin, COO, Director, Equity Incentive Plan, Stock Options, Warrants