Jeremy Simmons Spivey - 09 Dec 2025 Form 4 Insider Report for Cardinal Infrastructure Group Inc.

Reporting relationship: Chief Executive Officer, Director, 10%+ Owner
Issuer ticker: CDNL on Nasdaq
Reported as of: 09 Dec 2025
Net transaction value: -$83,337,576
SEC form: 4
Accepted by SEC: 11 Dec 2025, 17:55:00 UTC
Next SEC filing: 10 Dec 2025
Source filing: View source filing
Reporting owner signature: /s/ Tiffany Gidley, Attorney-in-fact

Key filing fact

Jeremy Simmons Spivey filed Form 4 for Cardinal Infrastructure Group Inc. on 11 Dec 2025.

Key facts

This page summarizes Jeremy Simmons Spivey's Form 4 filing for Cardinal Infrastructure Group Inc..
8 reported transactions and 4 derivative rows are listed below.
Accepted by SEC: 11 Dec 2025, 17:55.

Change

No earlier filing in this sequence is available for direct comparison.
Current net transaction value: -$83,337,576.

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 0002092830 Primary reporting owner

Spivey Jeremy Simmons

Relationship: Chief Executive Officer, Director, 10%+ Owner
Address: C/O CARDINAL INFRASTRUCTURE GROUP INC., 100 E. SIX FORKS ROAD, #300, RALEIGH
Signature: /s/ Tiffany Gidley, Attorney-in-fact
Signature date: 11 Dec 2025

Reported non-derivative transactions

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

CDNL transaction

Class B Common Stock

Award

Transaction value
Shares: +13,481,984
Change %
Price
Shares after: 13,481,984
Date: 09 Dec 2025
Ownership: Direct
Footnotes: F1

CDNL transaction

Class B Common Stock

Disposed to Issuer

Transaction value
Shares: -3,302,980
Change %: -24%
Price
Shares after: 10,179,004
Date: 11 Dec 2025
Ownership: Direct
Footnotes: F2

CDNL transaction

Class B Common Stock

Award

Transaction value
Shares: +2,716,320
Change %
Price
Shares after: 2,716,320
Date: 09 Dec 2025
Ownership: By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Footnotes: F1, F3

CDNL transaction

Class B Common Stock

Disposed to Issuer

Transaction value
Shares: -665,476
Change %: -24%
Price
Shares after: 2,050,844
Date: 11 Dec 2025
Ownership: By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Footnotes: F2, F3

Reported derivative securities

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

CDNL transaction Derivative

LLC Units

Award

Transaction value
Shares: +13,481,984
Change %
Price
Shares after: 13,481,984
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 13,481,984
Exercise price
Footnotes: F1, F4

CDNL transaction Derivative

LLC Units

Disposed to Issuer

Transaction value: $69,362,580
Shares: -3,302,980
Change %: -24%
Price: $21.00
Shares after: 10,179,004
Date: 11 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 3,302,980
Exercise price
Footnotes: F4

CDNL transaction Derivative

LLC Units

Award

Transaction value
Shares: +2,716,320
Change %
Price
Shares after: 2,716,320
Date: 09 Dec 2025
Ownership: By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Underlying class: Class A Common Stock
Underlying amount: 2,716,320
Exercise price
Footnotes: F1, F3, F4

CDNL transaction Derivative

LLC Units

Disposed to Issuer

Transaction value: $13,974,996
Shares: -665,476
Change %: -24%
Price: $21.00
Shares after: 2,050,844
Date: 11 Dec 2025
Ownership: By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Underlying class: Class A Common Stock
Underlying amount: 665,476
Exercise price
Footnotes: F3, F4

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Represents securities received as part of the Issuer's reorganization in connection with its initial public offering, as described in the registration statement on Form S-1 relating to the initial public offering. These securities were previously reported on a Form 3 filed by the Reporting Person.

Footnote F2

Reflects the cancellation for no consideration of Class B Common Stock in connection with the redemption of the membership units of Cardinal Civil Contracting Holdings LLC (the "LLC Units").

Footnote F3

The Reporting Person is the spouse of the trustee of Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended ("Spivey Trust"), and as a result, may be deemed to share beneficial ownership of the securities held of record by Spivey Trust.

Footnote F4

The LLC Units may be redeemed by the Reporting Person at any time at the option of the holder for shares of Class A Common Stock on a 1-to-1 basis, and a corresponding number of shares of Class B Common Stock will be forfeited in connection with the redemption. The LLC Units have no expiration date.