Intelligent Fanatics Capital Management LLC - 13 Aug 2025 Form 4 Insider Report for Marpai, Inc. (MRAI)

Role
10%+ Owner
Signature
/s/ Ian Cassel, on behalf of himself and each other reporting person here
Issuer symbol
MRAI
Transactions as of
13 Aug 2025
Net transactions value
-$270,640
Form type
4
Filing time
17 Oct 2025, 15:08:43 UTC
Previous filing
02 Jan 2025
Next filing
22 Aug 2025
SEC
View on sec.gov

Reporting Owners (3)

Name Relationship Address Signature Signature date CIK
Intelligent Fanatics Capital Management LLC 10%+ Owner 350 RUMFORD ROAD, LITITZ /s/ Ian Cassel, on behalf of himself and each other reporting person here 17 Oct 2025 0001798792
Cassel Ian J. 10%+ Owner 350 RUMFORD ROAD, LITITZ /s/ Ian Cassel, on behalf of himself and each other reporting person here 17 Oct 2025 0001586220
IFCM MicroCap Fund LP 10%+ Owner 350 RUMFORD ROAD, LITITZ /s/ Ian Cassel, on behalf of himself and each other reporting person here 17 Oct 2025 0001816505

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MRAI Common Shares, par value $0.0001 Sale $14,300 -10,000 -0.54% $1.43 1,854,707 13 Aug 2025 Direct F1
transaction MRAI Common Shares, par value $0.0001 Sale $28,000 -20,000 -1.1% $1.40 1,834,707 15 Aug 2025 Direct F1
transaction MRAI Common Shares, par value $0.0001 Sale $28,000 -20,000 -1.1% $1.40 1,814,707 18 Aug 2025 Direct F1
transaction MRAI Common Shares, par value $0.0001 Sale $28,000 -20,000 -1.1% $1.40 1,794,707 19 Aug 2025 Direct F1
transaction MRAI Common Shares, par value $0.0001 Sale $14,200 -10,000 -0.56% $1.42 1,784,707 20 Aug 2025 Direct F1
transaction MRAI Common Shares, par value $0.0001 Sale $22,820 -14,000 -0.78% $1.63 1,770,707 06 Oct 2025 Direct F1
transaction MRAI Common Shares, par value $0.0001 Sale $14,300 -10,000 -0.54% $1.43 1,854,707 13 Aug 2025 See Footnotes F1, F2
transaction MRAI Common Shares, par value $0.0001 Sale $28,000 -20,000 -1.1% $1.40 1,834,707 15 Aug 2025 See Footnotes F1, F2
transaction MRAI Common Shares, par value $0.0001 Sale $28,000 -20,000 -1.1% $1.40 1,814,707 18 Aug 2025 See Footnotes F1, F2
transaction MRAI Common Shares, par value $0.0001 Sale $28,000 -20,000 -1.1% $1.40 1,794,707 19 Aug 2025 See Footnotes F1, F2
transaction MRAI Common Shares, par value $0.0001 Sale $14,200 -10,000 -0.56% $1.42 1,784,707 20 Aug 2025 See Footnotes F1, F2
transaction MRAI Common Shares, par value $0.0001 Sale $22,820 -14,000 -0.78% $1.63 1,770,707 06 Oct 2025 See Footnotes F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Intelligent Fanatics Capital Management LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Intelligent Fanatics Capital Management LLC (IFCM) is the general partner of IFCM MicroCap Fund LP (Fund). The securities reported in this form are held directly by theFund and indirectly by IFCM and Mr. Cassel (see footnote 2).
F2 Mr. Cassel is the sole managing member of IFCM. Mr. Cassel has shared voting and investment power with respect to, and therefore may be deemed to be the beneficialowner of, the shares beneficially owned by the Fund. Mr. Cassel disclaims beneficial ownership of the shares beneficially owned by the Fund, other than the shares attributableto his limited and general partnership interest therein.