Christian Spenst Morrison - 02 Dec 2025 Form 4 Insider Report for Red Cat Holdings, Inc. (RCAT)

Role: Chief Financial Officer
Signature: /s/ Christian Morrison
Issuer symbol: RCAT
Transactions as of: 02 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 17 Dec 2025, 19:18:19 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Morrison Christian Spenst	Chief Financial Officer	15 AVENIDA MUNOZ RIVERA, STE 2200, SAN JUAN, PUERTO RICO	/s/ Christian Morrison	17 Dec 2025	0002101604

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	RCAT	Restricted Stock Units	Award	$0	+30,150		$0.000000	30,150	02 Dec 2025	Common Stock	30,150		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.
F2	The restricted stock units will vest in two equal annual installments: 50% on December 2, 2026, and 50% on December 2, 2027. Vesting of the restricted stock units is subject to the continuing employment by the Reporting Person with Red Cat Holdings, Inc.

Remarks:

This Form 4 is being filed outside the required filing period due solely to an administrative delay in the reporting persons receipt of EDGAR filing credentials from the SEC which was due to a high volume of submissions at the time. The reporting person undertook the steps necessary to obtain such credentials promptly following the reportable transaction but did not receive them in time to make a timely filing. This Form 4 has been submitted promptly upon receipt of the required EDGAR filing credentials.