September 16, 2025 · Form 4 insider transaction
Ngai-Pesic Katherine S. sold 300,000 shares of SVCO at $2.26 per share, a transaction worth $677.5K. The trade was recorded as open-market sale and disclosed on an SEC Form 4, filed 184 days after the transaction.
The transactions reported in this Form 4 have been reported after the reporting deadlines because the Reporting Person initially believed each of the transactions constituted a non-reportable pledge of Issuer securities. The Reporting Person has subsequently determined to report the transactions based on the terms of the arrangement. The nature of the transactions is currently the subject of a dispute in an arbitral proceeding. Based on the reported transaction prices, the Reporting Person does not believe that any profit would be recoverable from any opposite-way transactions within six months under Section 16(b) of the Exchange Act.; The reported price reflects the implied per-share value of shares transferred pursuant to an arrangement described as a non-recourse stock loan, in which the shares were transferred to the counterparty and the loan proceeds were limited to approximately 45% of the market value of the transferred shares, as determined under the terms of the arrangement, rather than a negotiated sale price.