Form 4: Former Director Rescinds 500,000 TZUP Restricted Shares
Insider Transaction Report
Former THUMZUP MEDIA Corp director Robert L. Haag rescinded a grant of 500,000 restricted stock shares.
Summary
- Robert L. Haag, identified as a former Director of THUMZUP MEDIA Corp (TZUP), filed a Form 4.
- The filing reports the rescission of a grant of 500,000 shares of restricted stock.
- These shares were originally issued to Mr. Haag on August 4, 2025, pursuant to the Issuer's 2025 Equity Incentive Plan.
- The rescission of the 500,000 shares occurred on November 12, 2025.
- Following this transaction, Mr. Haag directly beneficially owns 5,125 shares of Common Stock.
- Mr. Haag also indirectly beneficially owns 312,476 shares of Common Stock through Westside Strategic Partners, LLC, where he is the Managing Member and sole owner with voting control and investment discretion.
Sentiment
Score: 3
Explanation: The sentiment is negative for the reporting person as they rescinded a significant grant of 500,000 restricted shares. For the company, it is neutral to slightly positive due to reduced potential dilution, but the primary focus of a Form 4 is the insider's transaction.
Positives
- For THUMZUP MEDIA Corp, the rescission of 500,000 restricted shares could slightly reduce potential future dilution of its common stock.
Negatives
- Robert L. Haag rescinded a grant of 500,000 shares of restricted stock, significantly reducing his direct beneficial ownership in THUMZUP MEDIA Corp.
Future Outlook
No forward-looking statements or guidance are provided in this filing.
Industry Context
This filing is a routine disclosure of an insider's change in beneficial ownership, a standard regulatory requirement across all publicly traded companies. It does not provide information related to broader industry trends or competitive landscape.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Incentive Plan Reference | The rescinded grant was made pursuant to the Issuer's 2025 Equity Incentive Plan, indicating the plan is active, but no changes to the plan or corporate governance policies are announced. | NA | Confirms the existence and use of an equity incentive plan, but no direct impact on governance structure or policies is indicated by this specific transaction. |
Related Party Transactions
- The transaction involves a former director (Robert L. Haag) and the issuer (THUMZUP MEDIA Corp), which constitutes a related party transaction.
Stakeholder Impact
- Shareholders: Potential minor positive impact due to reduced future dilution from the rescinded shares.
- Reporting Person (Robert L. Haag): Negative impact on personal equity holdings due to the rescission of 500,000 shares.
Key Dates
| Date | Description |
|---|---|
| 08/04/2025 | Original grant date of 500,000 restricted stock shares to Robert L. Haag pursuant to the Issuer's 2025 Equity Incentive Plan. |
| 11/12/2025 | Date the Reporting Person rescinded the grant of 500,000 shares of restricted stock. |
| 11/14/2025 | Date the Form 4 was signed and filed. |
Keywords
THUMZUP MEDIA Corp, TZUP, SEC Form 4, insider transaction, beneficial ownership, restricted stock, stock rescission, equity incentive plan, Robert L. Haag
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