SEC Form 4 · accession 0002086128-26-000003
Solana Co · HSDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Cosmo Yi Jiang
Director
Period of report
Sep 18, 2025
Accepted (ET)
Jun 4, 2026 · 8:10 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001610853
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant (Right to Buy)F1,F2 | $0.001 | Sep 18, 2025 | A | 1,005,040 | A | — | Sep 18, 2030 | Common Stock | 1,005,040 | 1,005,040 | D |
Explanation of responses
- F1On September 18, 2025, Pantera Capital Management LP ("Pantera") transferred the warrant to the Reporting Person pursuant to that certain Warrant Transfer Agreement, dated as of September 18, 2025 (the "Warrant Transfer Agreement"), by and among the Issuer, Pantera and the Reporting Person. The warrant vests as to 25% of the shares on March 18, 2026; the remaining 75% of the shares shall vest in equal monthly installments on the last day of each month over the following thirty-six (36) calendar months, in each case subject to the Reporting Person providing continuous service to the Pantera on each such vesting date.
- F2Notwithstanding the foregoing, the number of vested shares on each subsequent March 31, June 30, September 30 and December 31, shall be equal to the greater of (x) the then vested amount, and (y) the Exercise-based Catch-Up Amount (as that term is defined in the Warrant Transfer Agreement), provided that in no event shall the cumulative number of vested warrant shares reported herein exceed 100% of the warrant shares reported herein.