Daniel M. Friedberg - 31 Mar 2026 Form 4 Insider Report for MultiSensor AI Holdings, Inc. (MSAI)

Reporting relationship
Director, Other*, 10%+ Owner
Issuer ticker
MSAI
Reported as of
31 Mar 2026
Net transaction value
$0
Source evidence Original filing metadata and source links for verification. 5 source fields
SEC form
4
Accepted by SEC
02 Apr 2026, 16:25:39 UTC
Prior SEC filing
23 Mar 2026
Next SEC filing
04 May 2026
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/ Daniel M. Friedberg

Key filing fact

Daniel M. Friedberg filed Form 4 for MultiSensor AI Holdings, Inc. (MSAI) on 02 Apr 2026.

Key facts

  • This page summarizes Daniel M. Friedberg's Form 4 filing for MultiSensor AI Holdings, Inc. (MSAI).
  • 1 reported transaction and 10 derivative rows are listed below.
  • Accepted by SEC: 02 Apr 2026, 16:25.

Change

  • Previous filing in this sequence was filed on 23 Mar 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 (5)

CIK 0001448795 Primary reporting owner

FRIEDBERG DANIEL M.

Relationship
Director, Other*, 10%+ Owner
Address
757 THIRD AVENUE, 20TH FLOOR, NEW YORK
Signature
/s/ Daniel M. Friedberg
Signature date
02 Apr 2026
CIK 0001972759

325 Capital Master Fund LP

Relationship
Other*, 10%+ Owner
Address
190 ELGIN AVENUE, GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS
Signature
325 Master Fund LP, By /s/ Michael D. Braner, Name: Michael D. Braner, Title: Managing Member
Signature date
02 Apr 2026
CIK 0001972758

325 Capital GP, LLC

Relationship
Other*, 10%+ Owner
Address
757 THIRD AVENUE, 20TH FLOOR, NEW YORK
Signature
325 Capital GP, LLC, By /s/ Michael D. Braner, Name: Michael D. Braner, Title: Managing Member
Signature date
02 Apr 2026
CIK 0001873893

325 CAPITAL LLC

Relationship
Other*, 10%+ Owner
Address
757 THIRD AVENUE, 20TH FLOOR, NEW YORK
Signature
325 Capital LLC, By: /s/ Michael D. Braner, Name: Michael D. Braner, Title: Managing Member
Signature date
02 Apr 2026
CIK 0001908019

Shrivastava Anil K

Relationship
Other*, 10%+ Owner
Address
757 THIRD AVENUE, 20TH FLOOR, NEW YORK
Signature
/s/ Anil Shrivastava
Signature date
02 Apr 2026

Reported non-derivative transactions

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

MSAI transaction

Common stock, $0.0001 par value per share

Award

Transaction value
Shares
+95,238
Change %
+63%
Price
$0.000000*
Shares after
245,345
Date
31 Mar 2026
Ownership
Direct
Footnotes
F1, F4
MSAI transaction

Common stock, $0.0001 par value per share

Award

Transaction value
Shares
+95,238
Change %
+63%
Price
$0.000000*
Shares after
245,345
Date
31 Mar 2026
Ownership
Direct
Footnotes
F1, F4
MSAI transaction

Common stock, $0.0001 par value per share

Award

Transaction value
Shares
+95,238
Change %
+63%
Price
$0.000000*
Shares after
245,345
Date
31 Mar 2026
Ownership
Direct
Footnotes
F1, F4
MSAI transaction

Common stock, $0.0001 par value per share

Award

Transaction value
Shares
+95,238
Change %
+63%
Price
$0.000000*
Shares after
245,345
Date
31 Mar 2026
Ownership
Direct
Footnotes
F1, F4
MSAI transaction

Common stock, $0.0001 par value per share

Award

Transaction value
Shares
+95,238
Change %
+63%
Price
$0.000000*
Shares after
245,345
Date
31 Mar 2026
Ownership
Direct
Footnotes
F1, F4
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
4,843,223
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Footnotes
F1, F2
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
4,843,223
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Footnotes
F1, F2
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
4,843,223
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Footnotes
F1, F2
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
4,843,223
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Footnotes
F1, F2
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
4,843,223
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Footnotes
F1, F2
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,747,896
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Footnotes
F1, F3
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,747,896
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Footnotes
F1, F3
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,747,896
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Footnotes
F1, F3
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,747,896
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Footnotes
F1, F3
MSAI holding

Common stock, $0.0001 par value per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,747,896
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Footnotes
F1, F3

Reported derivative securities

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

MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
6,722,710
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
5,353,632
Exercise price
$0.4090
Footnotes
F1, F2, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
6,722,710
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
5,353,632
Exercise price
$0.4090
Footnotes
F1, F2, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
6,722,710
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
5,353,632
Exercise price
$0.4090
Footnotes
F1, F2, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
6,722,710
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
5,353,632
Exercise price
$0.4090
Footnotes
F1, F2, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
6,722,710
Date
31 Mar 2026
Ownership
By: 325 Capital Master Fund LP
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
5,353,632
Exercise price
$0.4090
Footnotes
F1, F2, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
27,507,114
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
21,905,300
Exercise price
$0.4090
Footnotes
F1, F3, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
27,507,114
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
21,905,300
Exercise price
$0.4090
Footnotes
F1, F3, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
27,507,114
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
21,905,300
Exercise price
$0.4090
Footnotes
F1, F3, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
27,507,114
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
21,905,300
Exercise price
$0.4090
Footnotes
F1, F3, F5, F6
MSAI holding Derivative

Warrants to purchase common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
27,507,114
Date
31 Mar 2026
Ownership
By: 325 Capital LLC
Underlying class
Common stock, $0.0001 par value per share
Underlying amount
21,905,300
Exercise price
$0.4090
Footnotes
F1, F3, F5, F6
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

This Form 4 is being filed jointly by 325 Capital Master Fund LP, a Cayman Islands exempted limited partnership ("325 Master Fund"), 325 Capital GP, LLC, a Delaware limited liability company registered as a foreign partnership in the Cayman Islands ("325 Capital GP"), 325 Capital LLC, a Delaware limited liability company ("325"), Michael Braner, a United States citizen, Daniel Friedberg, a United States citizen, and Anil Shrivastava, a United States citizen (collectively, the "Reporting Persons"). Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Footnote F2

Securities owned directly by 325 Master Fund. 325 Capital GP is the general partner of 325 Master Fund, 325 is the investment manager to 325 Master Fund, and each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by 325 Master Fund.

Footnote F3

Securities owned directly by certain separately managed accounts ("SMAs") that are deemed beneficially owned by 325 as a result of 325 serving as the investment manager to such SMAs. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, they may be deemed to beneficially own the securities beneficially owned by 325.

Footnote F4

Mr. Friedberg serves as a director designee of 325 on the Board of Directors of the Issuer. In connection with this arrangement, any equity-based securities awarded to Mr. Friedberg in his capacity as a director of the Issuer will be held by Mr. Friedberg on behalf of 325 or its affiliates, transferred by Mr. Friedberg to 325 or its affiliates, and/or sold by Mr. Friedberg, with the proceeds of such sale to be remitted to 325 or its affiliates, in each case as directed by 325. Accordingly, Mr. Friedberg does not have a direct pecuniary interest in these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), however, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to have a pecuninary interest in these securities for purposes of Section 16 of the Exchange Act pursuant to the foregoing sentence.

Footnote F5

The Warrants are exercisable from the date of the Stockholder Approval and expire five years from the date of issuance.

Footnote F6

The SPA and the Warrants provide that each Warrant holder's beneficial ownership of shares, including after taking into account the full exercise of such holder's Warrant, shall in no event exceed 49.5% of the issued and outstanding shares (the "Maximum Ownership Limitation"). Pursuant to the Warrants, in the event that a holder's Warrant is not exercisable for shares due to the beneficial ownership of such holder exceeding the Maximum Ownership Limitation, the applicable Warrant will be exercisable for shares of the Issuer's Series A Convertible Preferred Stock, par value $0.0001 per share, that are convertible into an equivalent number of shares for which the Warrant is exercisable.

SEC remarks

Mr. Friedberg, a managing member of 325, is a director of the Issuer. For purposes of Section 16 of the Exchange Act, each of the Reporting Persons (other than Mr. Friedberg) may be deemed a director by deputization by virtue of its or his representation on the Board of Directors of the Issuer.

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