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

Kendall Leo Marin, COO, Director, and 10% Owner of Pineapple Financial Inc., has significantly increased his direct beneficial ownership in the company through multiple common share purchases in late June 2025.

Summary

• Kendall Leo Marin, who serves as Chief Operating Officer, Director, and a 10% Owner of Pineapple Financial Inc. (PAPL), reported several direct purchases of the company's common shares.
• On June 23, 2025, Mr. Marin acquired 3,000 common shares at a price of $0.0695 per share, an additional 3,750 shares at $0.0502 per share, and 2,000 shares at $0.0657 per share.
• On June 24, 2025, he further acquired 725 common shares at $0.049 per share.
• Following these transactions, Mr. Marin's direct beneficial ownership of common shares in Pineapple Financial Inc. increased to a total of 2,078,523 shares.
• The reported beneficial ownership figure does not include 126,652 stock options and 25,651 warrants also held by Mr. Marin.
• 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 thereafter.

Sentiment

Score: 8

Explanation: The sentiment is highly positive as a key insider, the COO and a Director, has significantly increased his direct ownership in the company, signaling strong confidence in its future.

Positives

• Kendall Leo Marin, a key executive (COO) and Director, significantly increased his direct ownership in Pineapple Financial Inc., signaling strong confidence in the company's future prospects.
• The multiple purchases across different price points demonstrate a continued commitment by a major insider to accumulate shares, which is often viewed positively by investors.

Future Outlook

The stock options granted to Kendall Marin on November 3, 2023, are set to vest over a two-year period, with 25% having vested on the grant date and the remaining unvested options vesting in equal installments every six months thereafter.

Industry Context

Insider purchases, such as those reported by Kendall Leo Marin, are often viewed by the market as a positive signal, indicating management's confidence in the company's future prospects and valuation, especially in the financial services or fintech sector where Pineapple Financial operates.

Related Party Transactions

• Kendall Marin holds 126,652 stock options issued pursuant to the 2022 Omnibus Equity Incentive Compensation Plan on November 3, 2023, exercisable at $3.60 per share, with a vesting schedule over two years.

Stakeholder Impact

• Shareholders may view the insider purchases as a positive indicator of management's belief in the company's value, potentially increasing investor confidence.

Next Steps

• Continued vesting of Kendall Marin's stock options according to the 2-year schedule, with installments every 6 months.

Key Dates

Recommendation

Keywords

Pineapple Financial, PAPL, Kendall Leo Marin, insider trading, Form 4, share purchase, beneficial ownership, COO, director, equity incentive plan, stock options, warrants