Joseph D. Freedman - 30 Jun 2025 Form 4 Insider Report for Red Cat Holdings, Inc. (RCAT)

Role: Director
Signature: /s/ Joseph Freedman
Issuer symbol: RCAT
Transactions as of: 30 Jun 2025
Transactions value $: -$729,000
Form type: 4
Filing time: 07 Jul 2025, 18:24:41 UTC
Previous filing: 17 Jun 2025
Next filing: 29 Sep 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Freedman Joseph David	Director	15 AVENIDA MUNOZ RIVERA, STE 2200, SAN JUAN, PUERTO RICO	/s/ Joseph Freedman	03 Jul 2025	0001840083

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RCAT	Common Stock	Options Exercise	$377K	+150K	+90.77%	$2.51	315K	30 Jun 2025	Direct	F1
transaction	RCAT	Common Stock	Sale	-$1.11M	-150K	-47.58%	$7.37	165K	30 Jun 2025	Direct	F1, F2

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	Employee Stock Option (right to buy)	Options Exercise	$0	-150K	-100%	$0.00	0	30 Jun 2025	Common Stock	150K	$2.51	Direct

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

Explanation of Responses:

Id	Content
F1	The amount of securities beneficially owned reflects only the number of shares of common stock held by the reporting person. Previously, the reporting person reported shares of common stock and derivative securities on an aggregate basis. The reporting person will file one or more amended reports to correct the number of non-derivative and derivative securities owned.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.33 to $7.46. The reporting person undertakes to provide Red Cat Holdings, Inc., any security holder of Red Cat Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

Content

The amount of securities beneficially owned reflects only the number of shares of common stock held by the reporting person. Previously, the reporting person reported shares of common stock and derivative securities on an aggregate basis. The reporting person will file one or more amended reports to correct the number of non-derivative and derivative securities owned.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.33 to $7.46. The reporting person undertakes to provide Red Cat Holdings, Inc., any security holder of Red Cat Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.