Form 4: Cantor Fitzgerald Adjusts Satellogic Stake, Net Zero Change

Cantor Fitzgerald entities reported a series of Class A common stock transactions in Satellogic Inc., resulting in no net change to their overall beneficial ownership.

Summary

• Cantor Fitzgerald, L.P. and related entities, including CFAC Holdings V, LLC, Cantor Fitzgerald & Co., Cantor Fitzgerald Securities, CF Group Management Inc., and Brandon Lutnick, filed a Form 4 for Satellogic Inc. (SATL).
• The reporting persons are identified as both a Director and a 10% Owner of Satellogic Inc.
• On December 9, 2025, the reporting persons acquired 10,000 shares of Class A common stock at a price of $1.88 per share.
• On the same date, December 9, 2025, the reporting persons disposed of a total of 10,000 shares of Class A common stock through multiple transactions at prices ranging from $1.87 to $1.875 per share.
• The transactions resulted in a net zero change in the total number of shares beneficially owned by the reporting persons.
• Following these reported transactions, the beneficial ownership stands at 13,380,873 shares of Class A common stock.
• The trades were executed as a result of customer order facilitation by Cantor Fitzgerald & Co. acting as principal.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing reports a net zero change in beneficial ownership, explained as customer order facilitation, which is a routine operational activity for a broker-dealer and does not reflect a directional investment decision by the reporting entity.

Management Comments

• The trades reported herein occurred as the result of customer order facilitation by Cantor Fitzgerald & Co. ('CF&Co') acting as principal.

Industry Context

This Form 4 filing reflects routine trading activity by a significant shareholder and broker-dealer (Cantor Fitzgerald) in the shares of Satellogic Inc. The transactions, described as customer order facilitation, are typical for a firm acting as a principal in the market and do not necessarily indicate a change in the firm's long-term investment strategy or outlook for Satellogic.

Related Party Transactions

• The reporting persons (Cantor Fitzgerald, L.P., CFAC Holdings V, LLC, Cantor Fitzgerald & Co., Cantor Fitzgerald Securities, CF Group Management Inc., and Brandon Lutnick) are related entities and individuals, with complex ownership structures detailed in Footnote 1, disclaiming beneficial ownership beyond their pecuniary interest.

Stakeholder Impact

• Shareholders may note the trading volume in Satellogic shares, but the net zero change in beneficial ownership by a 10% owner, attributed to customer order facilitation, is unlikely to have a significant direct impact on investor sentiment or the company's strategic direction.

Key Dates

Keywords

Satellogic, SATL, Cantor Fitzgerald, Form 4, Insider Trading, Beneficial Ownership, Stock Transactions, Equity, Space Technology