Form 4: Pineapple Financial COO Kendall Leo Marin Boosts Stake with Recent Share Purchase

Pineapple Financial Inc.'s Chief Operating Officer, Kendall Leo Marin, has increased his direct beneficial ownership in the company through a recent purchase of common shares.

Summary

• Kendall Leo Marin, the Chief Operating Officer and a Director of Pineapple Financial Inc. (PAPL), acquired 15,595 common shares of the company.
• The transaction occurred on May 29, 2025, with shares purchased at a price of $0.04 per share.
• Following this transaction, Mr. Marin directly beneficially owns 1,889,700 common shares.
• This total excludes 126,652 stock options and 25,651 warrants also owned by Mr. Marin.
• The stock options were granted on November 3, 2023, under the 2022 Omnibus Equity Incentive Compensation Plan, exercisable at $3.60 per share, with a 2-year vesting schedule (25% vested on grant date, remaining in equal installments every 6 months).

Sentiment

Score: 7

Explanation: The sentiment is positive due to an insider purchase of common shares by a key executive, indicating confidence in the company. However, the low purchase price of $0.04 per share, compared to the $3.60 option exercise price, suggests a potentially low stock valuation, which tempers the overall positive sentiment slightly without further context.

Positives

• The purchase of additional common shares by a key executive and director, Kendall Leo Marin, signals confidence in the company's future prospects.
• Increased insider ownership aligns management's interests more closely with those of shareholders.

Future Outlook

The document does not contain explicit forward-looking statements or guidance regarding the company's future performance, beyond the vesting schedule of the stock options.

Industry Context

This Form 4 filing reports an insider transaction, which is a routine disclosure in the financial industry. Insider buying can be interpreted as a positive signal, suggesting management's belief in the company's valuation or future prospects, especially within the financial services sector where Pineapple Financial operates.

Related Party Transactions

• The reported transaction is a related party transaction, as it involves the purchase of company shares by a director and officer (COO) of Pineapple Financial Inc.

Stakeholder Impact

• Shareholders may view this insider purchase as a positive signal, potentially increasing investor confidence and demand for the stock.
• Employees may perceive this as a sign of stability and belief in the company's future from leadership.

Next Steps

• The remaining unvested stock options held by Kendall Leo Marin will continue to vest in equal installments every 6 months over the 2-year period from the grant date.

Key Dates

Keywords

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