SEC Form 4 · accession 0000899140-26-000636
QUANTUM CORP /DE/ · QMCO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dialectic Technology SPV LLC
10% Owner
Period of report
Jun 4, 2026
Accepted (ET)
Jun 8, 2026 · 9:21 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0000709283
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F3 | Jun 4, 2026 | C | 11,020,645 | $5.194 | A | 11,020,645 | D | |
| Common StockF2,F3,F4 | Jun 4, 2026 | A | 3,083,975 | $5.194 | A | 14,104,620 | D |
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 | $5.194 | Jun 1, 2026 | J | 105,911 | A | Jun 1, 2026 | Jul 1, 2031 | Common Stock | 105,911 | 105,911 | D |
| Convertible NotesF2,F3 | $5.194 | Jun 4, 2026 | C | — | D | Dec 18, 2025 | — | Common Stock | 11,020,645 | 0 | D |
Explanation of responses
- F1On June 1, 2026 ("Issuance Date"), the Issuer issued to Dialectic Technology SPV LLC ("Dialectic") a warrant (the "Conversion Warrant") to purchase 105,911 (as may be adjusted pursuant to the Conversion Warrant) shares of common stock, par value $0.01 per share of the Issuer (the "Common Stock"), at an exercise price equal to $5.194 per share (as adjusted from time to time in accordance with the Conversion Warrant) on or after the Issuance Date and until the date that is five (5) years from the Issuance Date.
- F2On June 4, 2026 (the "Closing Date"), pursuant to a Conversion Agreement dated June 1, 2026 (the "Conversion Agreement"), by and among, among others, the Issuer and Dialectic, Dialectic converted $57,241,228.00 of the previously issued senior secured convertible notes (the "Convertible Notes"), consisting of the entire principal amount and all accrued and unpaid interest thereon, subject to certain conditions set forth in the Conversion Agreement (the "Conversion").
- F3In connection with the Conversion, on the Closing Date, the Convertible Notes were cancelled, and the Issuer issued to Dialectic 11,020,645 shares of Common Stock.
- F4On the Closing Date, as consideration for the Conversion, the Issuer issued to Dialectic, (i) 3,083,975 additional shares of Common Stock (the "Consideration Shares"), which represents the quotient of (A) approximately $13.0 million, the present value of nominal PIK interest that would accrue on the Convertible Notes from the Closing Date to the maturity date thereof, discounted at a rate of 11%, plus (B) approximately $3.0 million, the Term Loan Deferred Cash Interest Amount (as defined in the Credit Agreement) owed to Dialectic, divided by $5.194.