Richard John Cotton - 15 May 2026 Form 4 Insider Report for Spectral AI, Inc. (MDAI)

Reporting relationship: Director
Issuer ticker: MDAI
Reported as of: 15 May 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 18 May 2026, 16:34:26 UTC
Prior SEC filing: 27 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ Richard John Cotton

Key filing fact

Richard John Cotton filed Form 4 for Spectral AI, Inc. (MDAI) on 18 May 2026.

Key facts

This page summarizes Richard John Cotton's Form 4 filing for Spectral AI, Inc. (MDAI).
2 reported transactions and 4 derivative rows are listed below.
Accepted by SEC: 18 May 2026, 16:34.

Change

Previous filing in this sequence was filed on 27 Apr 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 (1)

CIK 0001992322 Primary reporting owner

Cotton Richard John

Relationship: Director
Address: 2515 MCKINNEY AVENUE, SUITE 1000, SUITE 1000, DALLAS, SWITZERLAND
Signature: /s/ Richard John Cotton
Signature date: 18 May 2026

Reported non-derivative transactions

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

MDAI transaction

Common Stock

Award

Transaction value
Shares: +5,882
Change %: +6.1%
Price: $2.33^*
Shares after: 102,659
Date: 15 May 2026
Ownership: Direct
Footnotes: F1

MDAI transaction

Common Stock

Award

Transaction value
Shares: +8,818
Change %: +8.6%
Price: $2.40^*
Shares after: 111,477
Date: 18 May 2026
Ownership: Direct
Footnotes: F1

Reported derivative securities

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

MDAI holding Derivative

Restricted Stock Unit

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 25,000
Date: 15 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 25,000
Exercise price: $1.84
Footnotes: F2

MDAI holding Derivative

ISO

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 31,460
Date: 15 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 31,460
Exercise price: $1.67
Footnotes: F3

MDAI holding Derivative

ISO

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 27,136
Date: 15 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 27,136
Exercise price: $1.67
Footnotes: F4

MDAI holding Derivative

NQSO

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 75,000
Date: 15 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 75,000
Exercise price: $1.25
Footnotes: F5

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Footnote F2

50% of the RSUs vested on April 20, 2026. 50% of the RSUs will vest on April 1, 2027.

Footnote F3

100% of the stock options vested on the date of issuance.

Footnote F4

100% of the stock options were vested as of the date hereof.

Footnote F5

25,000 of the stock options were vested as of the date hereof. The remaining 50,000 stock options vest upon the achievement of certain milestones.