SCHEDULE: Steel Partners Reduces Green Dot Stake to 5.7%

Steel Partners Holdings L.P. and its affiliates have reduced their beneficial ownership in Green Dot Corp Class A Common Stock to 5.7% through recent open market sales.

Summary

• Steel Partners Holdings L.P. and its affiliated entities, including Steel Connect Sub LLC, collectively beneficially own 3,138,532 shares of Green Dot Corp's Class A Common Stock.
• This ownership represents approximately 5.7% of Green Dot Corp's outstanding shares, based on 55,422,413 shares as of October 31, 2025.
• Steel Connect Sub LLC engaged in multiple open market sales of Green Dot Corp Class A Common Stock during January 2026.
• The sales included 25,000 shares at $12.8543 on January 7, 2026, 73,472 shares at $12.8120 on January 8, 2026, and 150,000 shares at $12.3873 on January 22, 2026, among others.
• The aggregate purchase price for the currently held 3,138,532 shares by Steel Connect Sub was approximately $27,175,517, funded by cash on hand.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a significant beneficial owner reducing its stake through open market sales, which can be interpreted as a lack of conviction or a strategic shift away from the investment.

Negatives

• A significant beneficial owner, Steel Connect Sub LLC, has been actively selling shares of Green Dot Corp in the open market during January 2026, indicating a reduction in their stake.

Risks

• The reduction in beneficial ownership by a significant institutional investor like Steel Partners could be perceived negatively by the market, potentially leading to downward pressure on Green Dot Corp's stock price.

Future Outlook

The filing does not provide specific forward-looking statements or guidance regarding Green Dot Corp's business or financial performance. It primarily details changes in beneficial ownership by Steel Partners Holdings L.P. and its affiliates.

Industry Context

NA

Related Party Transactions

• The reporting persons (Steel Partners Holdings L.P. and its various subsidiaries/affiliates) are related entities, and the beneficial ownership is shared among them, with Steel Connect Sub LLC directly owning the shares.

Stakeholder Impact

• Shareholders of Green Dot Corp may react negatively to the news of a significant institutional investor reducing its stake, potentially leading to a decrease in share price.
• The reduction in ownership by Steel Partners could signal a change in their investment strategy or outlook regarding Green Dot Corp.

Key Dates

Recommendation

The filing indicates a significant beneficial owner, Steel Partners Holdings L.P. and its affiliates, has been selling shares of Green Dot Corp, reducing their stake to 5.7%. While this is a factual disclosure, the divestment by a major investor can be interpreted as a negative signal for the stock. Without further information on Green Dot's fundamental performance or Steel Partners' specific rationale, a 'hold' recommendation is prudent, suggesting caution and a need for further analysis before making a definitive investment decision.

Keywords

Green Dot Corp, Steel Partners Holdings, Schedule 13D/A, Beneficial Ownership, Share Sales, GDOT, Institutional Investor