Kitty B. Payne - 07 Oct 2025 Form 4 Insider Report for USBC, Inc. (KNW)

Role
CFO, Treasurer, Secretary
Signature
/s/ Kitty B. Payne
Issuer symbol
KNW
Transactions as of
07 Oct 2025
Net transactions value
$0
Form type
4
Filing time
09 Oct 2025, 16:15:48 UTC
Previous filing
08 Aug 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
PAYNE KITTY B CFO, Treasurer, Secretary 300 E 2ND STREET, 15TH FLOOR, RENO /s/ Kitty B. Payne 09 Oct 2025 0001250826

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction USBC Option to Purchase Common Stock Disposed to Issuer $0 -1,790,000 -100% $0.000000 0 07 Oct 2025 Common Stock 1,790,000 $2.45 Direct F1
transaction USBC Option to Purchase Common Stock Award $0 +1,790,000 $0.000000 1,790,000 07 Oct 2025 Common Stock 1,790,000 $1.10 Direct F2
transaction USBC Option to Purchase Common Stock Award $0 +1,960,000 +109% $0.000000 3,750,000 07 Oct 2025 Common Stock 1,960,000 $1.10 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transactions reported involved the repricing of outstanding stock options to purchase 1,790,000 shares of common stock of USBC, Inc. (the "Company") pursuant to the Amended and Restated USBC, Inc. 2021 Equity Incentive Plan (the "Amended and Restated 2021 Plan"), initially granted on August 6, 2025 (the "Grant Date"). The option will vest as to 25% of the shares covered by the option on the one-year anniversary of the Grant Date and in quarterly installments thereafter over the next three years.
F2 On October 7, 2025, in accordance with the terms of the Amended and Restated 2021 Plan, the Board of Directors of the Company approved a repricing of outstanding stock options granted on August 6, 2025. The exercise price of each repriced option was reduced from $2.45 to $1.10 per share.
F3 On October 7, 2025, the Reporting Person was granted an option to purchase 1,960,000 shares of the Company's common stock pursuant to the Amended and Restated 2021 Plan. The option will vest as to 25% of the shares covered by the option on the one-year anniversary of the Grant Date and in quarterly installments thereafter over the next three years.