July 17, 2025 · Form 4 insider transaction
Solgaard Janzen Adrian Nicholas bought 10,000 shares of VLCN, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 4 days after the transaction.
The shares of common stock were purchased by the Reporting Person in the Issuer's recently announced private placement with certain accredited and institutional investors, which closed on July 21, 2025.; The stock options were issued by the Issuer in connection with the Reporting Person's service as a director of the Issuer and vest based upon the daily volume weighted average price ("VWAP") of the Issuer's common stock, vesting as to 20% of the underlying shares of common stock upon the VWAP reaching $10 and then in incremental 20% installments until becoming fully vested upon a VWAP of $30. All vesting is subject to the approval by the Issuer's stockholder of a new stock option plan.