Michael Simanovsky - 10 Aug 2026 Form 4 Insider Report for SONIDA SENIOR LIVING, INC. (SNDA)

Reporting relationship: Director, 10%+ Owner
Issuer ticker: SNDA
Reported as of: 10 Aug 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 10 Aug 2026, 21:35:36 UTC
Prior SEC filing: 13 Mar 2026
Source filing: View source filing
Reporting owner signature: MICHAEL J. SIMANOVSKY by: /s/ Paul Dumaine, Attorney-in-fact for Michael J.Simanovsky

Key filing fact

Michael Simanovsky filed Form 4 for SONIDA SENIOR LIVING, INC. (SNDA) on 10 Aug 2026.

Key facts

This page summarizes Michael Simanovsky's Form 4 filing for SONIDA SENIOR LIVING, INC. (SNDA).
12 reported transactions and 40 derivative rows are listed below.
Accepted by SEC: 10 Aug 2026, 21:35.

Change

Previous filing in this sequence was filed on 13 Mar 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (5)

CIK 0001596522 Primary reporting owner

Simanovsky Michael

Relationship: Director, 10%+ Owner
Address: 25 DEFOREST AVENUE, 3RD FLOOR, SUMMIT
Signature: MICHAEL J. SIMANOVSKY by: /s/ Paul Dumaine, Attorney-in-fact for Michael J.Simanovsky
Signature date: 10 Aug 2026

CIK 0001850901

Conversant Capital LLC

Relationship: Director, 10%+ Owner
Address: 25 DEFOREST AVENUE, 3RD FLOOR, SUMMIT
Signature: CONVERSANT CAPITAL LLC by: /s/ Paul Dumaine, General Counsel and Chief Compliance Officer
Signature date: 10 Aug 2026

CIK 0001850910

Conversant GP Holdings LLC

Relationship: Director, 10%+ Owner
Address: 25 DEFOREST AVENUE,, 3RD FLOOR, SUMMIT
Signature: CONVERSANT GP HOLDINGS LLC by: /s/ Paul Dumaine, General Counsel and Chief Compliance Officer
Signature date: 10 Aug 2026

CIK 0001892127

Conversant Dallas Parkway (A) LP

Relationship: Director, 10%+ Owner
Address: 25 DEFOREST AVENUE, 3RD FLOOR, SUMMIT
Signature: CONVERSANT DALLAS PARKWAY (A) LP by: Conversant GP Holdings LLC, its general partner by: /s/ Paul Dumaine, General Counsel and Chief Compliance Officer
Signature date: 10 Aug 2026

CIK 0001892128

Conversant Dallas Parkway (B) LP

Relationship: Director, 10%+ Owner
Address: 25 DEFOREST AVENUE, 3RD FLOOR, SUMMIT
Signature: CONVERSANT DALLAS PARKWAY (B) LP by: Conversant GP Holdings LLC, its general partner by: /s/ Paul Dumaine, General Counsel and Chief Compliance Officer
Signature date: 10 Aug 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -1,504,134
Change %: -22%
Price
Shares after: 5,353,689
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F3, F4, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -1,504,134
Change %: -22%
Price
Shares after: 5,353,689
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F3, F4, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -1,504,134
Change %: -22%
Price
Shares after: 5,353,689
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F3, F4, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -1,504,134
Change %: -22%
Price
Shares after: 5,353,689
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F3, F4, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -1,504,134
Change %: -22%
Price
Shares after: 5,353,689
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F3, F4, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -97,371
Change %: -12%
Price
Shares after: 709,744
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F4, F5, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -97,371
Change %: -12%
Price
Shares after: 709,744
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F4, F5, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -97,371
Change %: -12%
Price
Shares after: 709,744
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F4, F5, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -97,371
Change %: -12%
Price
Shares after: 709,744
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F4, F5, F6

SNDA transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -97,371
Change %: -12%
Price
Shares after: 709,744
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F2, F4, F5, F6

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +1,504,134
Change %: +28%
Price: $32.00^*
Shares after: 6,857,823
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F3, F4

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +1,504,134
Change %: +28%
Price: $32.00^*
Shares after: 6,857,823
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F3, F4

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +1,504,134
Change %: +28%
Price: $32.00^*
Shares after: 6,857,823
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F3, F4

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +1,504,134
Change %: +28%
Price: $32.00^*
Shares after: 6,857,823
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F3, F4

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +1,504,134
Change %: +28%
Price: $32.00^*
Shares after: 6,857,823
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F3, F4

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +97,371
Change %: +14%
Price: $32.00^*
Shares after: 807,115
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F4, F5

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +97,371
Change %: +14%
Price: $32.00^*
Shares after: 807,115
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F4, F5

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +97,371
Change %: +14%
Price: $32.00^*
Shares after: 807,115
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F4, F5

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +97,371
Change %: +14%
Price: $32.00^*
Shares after: 807,115
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F4, F5

SNDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +97,371
Change %: +14%
Price: $32.00^*
Shares after: 807,115
Date: 10 Aug 2026
Ownership: See footnotes
Footnotes: F1, F4, F5

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $40.00
Footnotes: F1, F3, F4, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series A Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $40.00
Footnotes: F1, F4, F5, F6

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +38,742
Change %
Price
Shares after: 38,742
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Award

Transaction value
Shares: +2,508
Change %
Price
Shares after: 2,508
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -38,742
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 1,203,308
Exercise price: $32.00
Footnotes: F1, F3, F4, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

SNDA transaction Derivative

Series B Convertible Preferred Stock

Options Exercise

Transaction value
Shares: -2,508
Change %: -100%
Price
Shares after: 0
Date: 10 Aug 2026
Ownership: See footnotes
Underlying class: Common Stock
Underlying amount: 77,897
Exercise price: $32.00
Footnotes: F1, F4, F5, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote F1

On August 10, 2026, the Issuer filed certificates of correction to the March 11, 2026 Certificate of Elimination and Certificate of Designation Amendment, pursuant to which the Issuer, in accordance with Exchange Act Rule 16b-3 ("Rule 16b-3") and the agreement of the Reporting Persons (as defined below), effected the unwinding of the previously reported (i) March 11, 2026 conversion of Series A Convertible Preferred Stock into 1,601,505 shares of Common Stock and (ii) March 11, 2026 amendment of the terms of Series A Convertible Preferred Stock (to reduce the conversion price to $32 per share of Common Stock). The Issuer, in accordance with Rule 16b-3, then entered an Exchange Agreement with the Reporting Persons, who exchanged their restored Series A Convertible Preferred Stock for the Issuer's newly authorized and issued Series B Convertible Preferred Stock, and immediately converted all Series B shares into 1,601,505 shares of Common Stock, each step approved under Rule 16b-3.

Footnote F2

This Form 4 is being filed jointly by Michael Simanovsky, a United States citizen; Conversant Capital LLC, a Delaware limited liability company ("Conversant Capital"); Conversant GP Holdings LLC, a Delaware limited liability company ("Conversant GP"); Conversant Dallas Parkway (A) LP, a Delaware limited partnership ("Investor A"); and Conversant Dallas Parkway (B) LP, a Delaware limited partnership ("Investor B") (collectively the filing persons are the "Reporting Persons").

Footnote F3

Securities are held by Investor A.

Footnote F4

Conversant GP is the general partner of each of Investor A and Investor B. Conversant Capital is the investment manager to each of Investor A and Investor B. Mr. Simanovsky is the managing member of Conversant Capital and Conversant GP. By virtue of these relationships, each of Mr. Simanovsky, Conversant Capital and Conversant GP may be deemed a beneficial owner of the securities held by each of Investor A and Investor B. Mr. Simanovsky, Conversant Capital and Conversant GP each disclaims beneficial ownership of the securities held by Investor A and Investor B except to the extent of his or its pecuniary interest therein.

Footnote F5

Securities are held by Investor B.

Footnote F6

There is no expiration date for the right of the holder of Series A Convertible Preferred Stock to convert.

Footnote F7

There is no expiration date for the right of the holder of Series B Convertible Preferred Stock to convert.

SEC remarks

Michael Simanovsky, Conversant Capital's Managing Partner, and Robert T. Grove, a Principal of Conversant Capital, serve as members of the Issuer's board of directors. On the basis of the relationship between Messrs. Simanovsky and Grove and the Reporting Person, the Reporting Person may be considered a director of the Issuer for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.