RCAT

SEC source: 0001628280-26-065236 · wk-form4_1791317560.xml · derivative · entry 2

Funk Paul II · CIK 0002027952 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 868 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On October 2, 2025, the reporting person was granted 868 restricted stock units, which vested on October 2, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On October 2, 2025, the reporting person was granted 868 restricted stock units, which vested on October 2, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On October 2, 2025, the reporting person was granted 868 restricted stock units, which vested on October 2, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001628280-26-065236 · wk-form4_1791317560.xml · nonDerivative · entry 1

Funk Paul II · CIK 0002027952 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 868

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On October 2, 2025, the reporting person was granted 868 restricted stock units, which vested on October 2, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-043191 · ownership.xml · derivative · entry 4

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Common stock · 750,000 shares

Expires 2026-09-15

F3 · derivative.exercise_price: On September 15, 2026, the Reporting Person settled the September 2025 Contract described in footnotes 1 and 2 above. On September 15, 2026, the settlement price was the forward floor price of $9.14. Accordingly, the Reporting Person transferred to the purchaser all 750,000 of the Pledged Shares.

F3 · kind: On September 15, 2026, the Reporting Person settled the September 2025 Contract described in footnotes 1 and 2 above. On September 15, 2026, the settlement price was the forward floor price of $9.14. Accordingly, the Reporting Person transferred to the purchaser all 750,000 of the Pledged Shares.

SEC source: 0001493152-26-043191 · ownership.xml · nonDerivative · entry 2

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 11,712,202

F6 · kind: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 31, 2026.

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.64 to $7.89. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

SEC source: 0001493152-26-043191 · ownership.xml · nonDerivative · entry 1

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 11,862,202

F3 · kind: On September 15, 2026, the Reporting Person settled the September 2025 Contract described in footnotes 1 and 2 above. On September 15, 2026, the settlement price was the forward floor price of $9.14. Accordingly, the Reporting Person transferred to the purchaser all 750,000 of the Pledged Shares.

F3 · price: On September 15, 2026, the Reporting Person settled the September 2025 Contract described in footnotes 1 and 2 above. On September 15, 2026, the settlement price was the forward floor price of $9.14. Accordingly, the Reporting Person transferred to the purchaser all 750,000 of the Pledged Shares.

SEC source: 0001493152-26-041010 · ownership.xml · nonDerivative · entry 1

Liuzza Nicholas Reyland JR · CIK 0001264473 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 424,874

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.47 to $8.52, inclusive. The reporting person undertakes to provide Red Cat Holdings, Inc., any security holder of Red Cat Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

SEC source: 0001628280-26-057937 · wk-form4_1787169799.xml · nonDerivative · entry 1

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 12,612,202

F1 · kind: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 31, 2026.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.26 to $10.75. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

SEC source: 0001493152-26-037893 · ownership.xml · nonDerivative · entry 2

Moe Christopher R. · CIK 0001930171 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 200,502

SEC source: 0001493152-26-037863 · ownership.xml · nonDerivative · entry 1

Liuzza Nicholas Reyland JR · CIK 0001264473 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 489,874

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.60 to $10.66, inclusive. The reporting person undertakes to provide Red Cat Holdings, Inc., any security holder of Red Cat Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

SEC source: 0001628280-26-048517 · wk-form4_1784236760.xml · nonDerivative · entry 1

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 12,762,202

F1 · kind: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 31, 2026.

F2 · price: Represents a weighted average sales price per share. The shares were sold at price ranges from $8.18 to $9.04. The Reporting Person has provided to the issuer, and will provide to any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

SEC source: 0001493152-26-028723 · ownership.xml · nonDerivative · entry 1

Funk Paul II · CIK 0002027952 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.46 to $11.58, inclusive. The reporting person undertakes to provide Red Cat Holdings, Inc., any security holder of Red Cat Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

SEC source: 0001493152-26-021196 · ownership.xml · derivative · entry 2

Funk Paul II · CIK 0002027952 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 7,429 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-021196 · ownership.xml · nonDerivative · entry 1

Funk Paul II · CIK 0002027952 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 165,028

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-021194 · ownership.xml · derivative · entry 2

Liuzza Nicholas Reyland JR · CIK 0001264473 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 7,429 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-021194 · ownership.xml · nonDerivative · entry 1

Liuzza Nicholas Reyland JR · CIK 0001264473 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 544,874

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-021192 · ownership.xml · derivative · entry 2

Freedman Joseph David · CIK 0001840083 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 7,429 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-021192 · ownership.xml · nonDerivative · entry 1

Freedman Joseph David · CIK 0001840083 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 342,689

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-021190 · ownership.xml · derivative · entry 2

Moe Christopher R. · CIK 0001930171 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 7,429 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

F1 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-021190 · ownership.xml · nonDerivative · entry 1

Moe Christopher R. · CIK 0001930171 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 230,502

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On May 22, 2025, the reporting person was granted 7,429 restricted stock units. The restricted stock units vested on April 30, 2026. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.

SEC source: 0001493152-26-022145 · ownership.xml · derivative · entry 5

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,887

Underlying: Common stock · 5,295 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On April 6, 2026, the reporting person was granted 21,182 restricted stock units. One-fourth of the restricted stock units vested on April 6, 2026, and the remaining restricted stock units will vest on December 31, 2026.

F2 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On April 6, 2026, the reporting person was granted 21,182 restricted stock units. One-fourth of the restricted stock units vested on April 6, 2026, and the remaining restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On April 6, 2026, the reporting person was granted 21,182 restricted stock units. One-fourth of the restricted stock units vested on April 6, 2026, and the remaining restricted stock units will vest on December 31, 2026.

SEC source: 0001493152-26-022145 · ownership.xml · derivative · entry 4

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,182

Underlying: Common stock · 21,182 shares

Expires not disclosed

F2 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On April 6, 2026, the reporting person was granted 21,182 restricted stock units. One-fourth of the restricted stock units vested on April 6, 2026, and the remaining restricted stock units will vest on December 31, 2026.

F2 · derivative.exercise_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On April 6, 2026, the reporting person was granted 21,182 restricted stock units. One-fourth of the restricted stock units vested on April 6, 2026, and the remaining restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On April 6, 2026, the reporting person was granted 21,182 restricted stock units. One-fourth of the restricted stock units vested on April 6, 2026, and the remaining restricted stock units will vest on December 31, 2026.

SEC source: 0001493152-26-022145 · ownership.xml · derivative · entry 3

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,040,000

Underlying: Common stock · 1,040,000 shares

Expires 2036-04-05

F1 · derivative.exercise_date: The option vests in three equal annual installments on December 31, 2026, December 31, 2027 and December 31, 2028, and were granted as compensation in lieu of a base salary and participation in a traditional annual bonus plan.

SEC source: 0001493152-26-022145 · ownership.xml · nonDerivative · entry 2

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,912,202

SEC source: 0001493152-26-022145 · ownership.xml · nonDerivative · entry 1

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,913,772

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock. On April 6, 2026, the reporting person was granted 21,182 restricted stock units. One-fourth of the restricted stock units vested on April 6, 2026, and the remaining restricted stock units will vest on December 31, 2026.

SEC source: 0001628280-26-024977 · wk-form4_1776119748.xml · derivative · entry 4

Hitchcock Geoffrey Wayne · CIK 0002047162 · Chief Revenue Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,526

Underlying: Common Stock · 2,175 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: On March 31, 2026, the reporting person was granted 8,701 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: On March 31, 2026, the reporting person was granted 8,701 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

SEC source: 0001628280-26-024977 · wk-form4_1776119748.xml · derivative · entry 3

Hitchcock Geoffrey Wayne · CIK 0002047162 · Chief Revenue Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,701

Underlying: Common Stock · 8,701 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: On March 31, 2026, the reporting person was granted 8,701 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: On March 31, 2026, the reporting person was granted 8,701 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

SEC source: 0001628280-26-024977 · wk-form4_1776119748.xml · nonDerivative · entry 2

Hitchcock Geoffrey Wayne · CIK 0002047162 · Chief Revenue Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 206,517

SEC source: 0001628280-26-024977 · wk-form4_1776119748.xml · nonDerivative · entry 1

Hitchcock Geoffrey Wayne · CIK 0002047162 · Chief Revenue Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 207,162

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

SEC source: 0001628280-26-024974 · wk-form4_1776118252.xml · derivative · entry 4

Morrison Christian Spenst · CIK 0002101604 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,266

Underlying: Common Stock · 422 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: On March 31, 2026, the reporting person was granted 1,688 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: On March 31, 2026, the reporting person was granted 1,688 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

SEC source: 0001628280-26-024974 · wk-form4_1776118252.xml · derivative · entry 3

Morrison Christian Spenst · CIK 0002101604 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,688

Underlying: Common Stock · 1,688 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: On March 31, 2026, the reporting person was granted 1,688 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: On March 31, 2026, the reporting person was granted 1,688 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

SEC source: 0001628280-26-024974 · wk-form4_1776118252.xml · nonDerivative · entry 2

Morrison Christian Spenst · CIK 0002101604 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 277

SEC source: 0001628280-26-024974 · wk-form4_1776118252.xml · nonDerivative · entry 1

Morrison Christian Spenst · CIK 0002101604 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 422

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

SEC source: 0001628280-26-024972 · wk-form4_1776118208.xml · derivative · entry 4

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,221

Underlying: Common Stock · 4,073 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: On March 31, 2026, the reporting person was granted 16,294 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: On March 31, 2026, the reporting person was granted 16,294 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

SEC source: 0001628280-26-024972 · wk-form4_1776118208.xml · derivative · entry 3

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,294

Underlying: Common Stock · 16,294 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: On March 31, 2026, the reporting person was granted 16,294 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

F2 · derivative.expiration_date: On March 31, 2026, the reporting person was granted 16,294 restricted stock units, vesting in two installments: 25% of the shares underlying the restricted stock units vested immediately and 75% of the shares underlying the restricted stock units will vest on December 31, 2026.

SEC source: 0001628280-26-024972 · wk-form4_1776118208.xml · nonDerivative · entry 2

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 28,920

SEC source: 0001628280-26-024972 · wk-form4_1776118208.xml · nonDerivative · entry 1

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 30,096

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

SEC source: 0001628280-26-019571 · wk-form4_1773873285.xml · derivative · entry 3

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,500

Underlying: Common Stock · 12,500 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · price: On December 2, 2025, the reporting person was granted 25,000 restricted stock units, vesting in two equal installments: 50% on March 17, 2026 and 50% on March 17, 2027.

F2 · derivative.exercise_date: On December 2, 2025, the reporting person was granted 25,000 restricted stock units, vesting in two equal installments: 50% on March 17, 2026 and 50% on March 17, 2027.

F2 · derivative.expiration_date: On December 2, 2025, the reporting person was granted 25,000 restricted stock units, vesting in two equal installments: 50% on March 17, 2026 and 50% on March 17, 2027.

SEC source: 0001628280-26-019571 · wk-form4_1773873285.xml · nonDerivative · entry 2

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 26,023

SEC source: 0001628280-26-019571 · wk-form4_1773873285.xml · nonDerivative · entry 1

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 29,630

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

SEC source: 0001628280-26-017734 · wk-form4_1773433927.xml · derivative · entry 3

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 25,000

Underlying: Common Stock · 25,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · price: On March 31, 2025, the reporting person was granted 50,000 restricted stock units, vesting in two equal installments: 50% on March 11, 2026 and 50% on March 11, 2027.

F2 · derivative.exercise_date: On March 31, 2025, the reporting person was granted 50,000 restricted stock units, vesting in two equal installments: 50% on March 11, 2026 and 50% on March 11, 2027.

F2 · derivative.expiration_date: On March 31, 2025, the reporting person was granted 50,000 restricted stock units, vesting in two equal installments: 50% on March 11, 2026 and 50% on March 11, 2027.

SEC source: 0001628280-26-017734 · wk-form4_1773433927.xml · nonDerivative · entry 2

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,130

SEC source: 0001628280-26-017734 · wk-form4_1773433927.xml · nonDerivative · entry 1

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 25,000

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

SEC source: 0001493152-26-043191 · ownership.xml · derivative · entry 5

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,500,000

Underlying: Common stock · 1,500,000 shares

Expires 2027-01-25

F4 · derivative.exercise_price: As previously reported on Form 144 filed by the Reporting Person on December 29, 2025, the Reporting Person entered into a variable prepaid forward contract with an unaffiliated third-party dealer, dated January 14, 2026 (the "January 2026 Contract"). The January 2026 Contract required the Reporting Person to deliver to the buyer up to 1,500,000 shares of the Issuer's common stock (the "Pledged Shares"), on January 25, 2027, the settlement date. In exchange, the Reporting Person received an up-front cash payment of $17,136,900.00. The actual number shares of common stock to be delivered by the Reporting Person on the settlement date will be determined based on the volume weighted average price of the Issuer's common stock at settlement relative to an agreed forward floor price of $11.88 per share and forward cap price of $15.58 per share, with the aggregate number shares deliverable not to exceed 1,500,000 shares of common stock.

F5 · derivative.exercise_price: (continued from footnote 4) The Reporting Person has the right to elect to settle the January 2026 Contract in cash and thereby retain ownership of the Pledged Shares. The Pledged Shares are held in a collateral account for the account of the Reporting Person, with the buyer or its affiliate having a security interest in such account. Unless and until an event of default or similar triggering event occurs under the pledge, the Reporting Person retains the right to vote the Pledged Shares, and dividends on the Pledged Shares are, subject to certain payment obligations to the buyer, ultimately for the account of the Reporting Person.

F4 · kind: As previously reported on Form 144 filed by the Reporting Person on December 29, 2025, the Reporting Person entered into a variable prepaid forward contract with an unaffiliated third-party dealer, dated January 14, 2026 (the "January 2026 Contract"). The January 2026 Contract required the Reporting Person to deliver to the buyer up to 1,500,000 shares of the Issuer's common stock (the "Pledged Shares"), on January 25, 2027, the settlement date. In exchange, the Reporting Person received an up-front cash payment of $17,136,900.00. The actual number shares of common stock to be delivered by the Reporting Person on the settlement date will be determined based on the volume weighted average price of the Issuer's common stock at settlement relative to an agreed forward floor price of $11.88 per share and forward cap price of $15.58 per share, with the aggregate number shares deliverable not to exceed 1,500,000 shares of common stock.

F5 · kind: (continued from footnote 4) The Reporting Person has the right to elect to settle the January 2026 Contract in cash and thereby retain ownership of the Pledged Shares. The Pledged Shares are held in a collateral account for the account of the Reporting Person, with the buyer or its affiliate having a security interest in such account. Unless and until an event of default or similar triggering event occurs under the pledge, the Reporting Person retains the right to vote the Pledged Shares, and dividends on the Pledged Shares are, subject to certain payment obligations to the buyer, ultimately for the account of the Reporting Person.

F4 · price: As previously reported on Form 144 filed by the Reporting Person on December 29, 2025, the Reporting Person entered into a variable prepaid forward contract with an unaffiliated third-party dealer, dated January 14, 2026 (the "January 2026 Contract"). The January 2026 Contract required the Reporting Person to deliver to the buyer up to 1,500,000 shares of the Issuer's common stock (the "Pledged Shares"), on January 25, 2027, the settlement date. In exchange, the Reporting Person received an up-front cash payment of $17,136,900.00. The actual number shares of common stock to be delivered by the Reporting Person on the settlement date will be determined based on the volume weighted average price of the Issuer's common stock at settlement relative to an agreed forward floor price of $11.88 per share and forward cap price of $15.58 per share, with the aggregate number shares deliverable not to exceed 1,500,000 shares of common stock.

F5 · price: (continued from footnote 4) The Reporting Person has the right to elect to settle the January 2026 Contract in cash and thereby retain ownership of the Pledged Shares. The Pledged Shares are held in a collateral account for the account of the Reporting Person, with the buyer or its affiliate having a security interest in such account. Unless and until an event of default or similar triggering event occurs under the pledge, the Reporting Person retains the right to vote the Pledged Shares, and dividends on the Pledged Shares are, subject to certain payment obligations to the buyer, ultimately for the account of the Reporting Person.

SEC source: 0001628280-25-059246 · wk-form4_1767221074.xml · nonDerivative · entry 3

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · Jointly held by spouse and son

Disclosed balance after: 4,750

F1 · kind: This transaction involved the reporting persons gift of 4,750 shares of RCAT common stock to his spouse and son, who will hold the shares jointly. The reporting person disclaims beneficial ownership of the securities held jointly by his spouse and son, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

SEC source: 0001628280-25-059246 · wk-form4_1767221074.xml · nonDerivative · entry 2

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,908,477

F1 · kind: This transaction involved the reporting persons gift of 4,750 shares of RCAT common stock to his spouse and son, who will hold the shares jointly. The reporting person disclaims beneficial ownership of the securities held jointly by his spouse and son, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

SEC source: 0001628280-25-059246 · wk-form4_1767221074.xml · nonDerivative · entry 1

Thompson Jeffrey M · CIK 0001397565 · Director · Chairman of the Board, CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,913,227

SEC source: 0001628280-25-055377 · wk-form4_1764883834.xml · derivative · entry 1

Ericson Christian · CIK 0002062536 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 25,000

Underlying: Common Stock · 25,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: The restricted stock units will vest in two equal annual installments: 50% on March 17, 2026 and 50% on March 17, 2027. Vesting of the restricted stock units is subject to the continuing employment by the Reporting Person with Red Cat Holdings, Inc.

F2 · derivative.expiration_date: The restricted stock units will vest in two equal annual installments: 50% on March 17, 2026 and 50% on March 17, 2027. Vesting of the restricted stock units is subject to the continuing employment by the Reporting Person with Red Cat Holdings, Inc.

SEC source: 0001628280-25-057768 · wk-form4_1766017096.xml · derivative · entry 1

Morrison Christian Spenst · CIK 0002101604 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 30,150

Underlying: Common Stock · 30,150 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: The restricted stock units will vest in two equal annual installments: 50% on December 2, 2026, and 50% on December 2, 2027. Vesting of the restricted stock units is subject to the continuing employment by the Reporting Person with Red Cat Holdings, Inc.

F2 · derivative.expiration_date: The restricted stock units will vest in two equal annual installments: 50% on December 2, 2026, and 50% on December 2, 2027. Vesting of the restricted stock units is subject to the continuing employment by the Reporting Person with Red Cat Holdings, Inc.

SEC source: 0001104659-25-097225 · tm2528136-1_4seq1.xml · derivative · entry 1

Funk Paul II · CIK 0002027952 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 868

Underlying: Common Stock · 868 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of RCAT common stock.

F2 · derivative.exercise_date: The restricted stock units vest 10/2/2025.

F2 · derivative.expiration_date: The restricted stock units vest 10/2/2025.

SEC source: 0001104659-25-096811 · tm2528011-1_4seq1.xml · derivative · entry 3

Hitchcock Geoffrey Wayne · CIK 0002047162 · Chief Revenue Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 262,500

Underlying: Common Stock · 262,500 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units convert into common stock on a one-for-one basis.

F3 · derivative.exercise_date: On November 24, 2024, the reporting person was granted 525,000 restricted stock units, vesting in two equal annual installments on October 1, 2025 and October 1, 2026.

F3 · derivative.expiration_date: On November 24, 2024, the reporting person was granted 525,000 restricted stock units, vesting in two equal annual installments on October 1, 2025 and October 1, 2026.