Daniel Masters, a Director and 10% Owner of CoinShares PLC (NASDAQ:CSHR), filed a statement of changes in beneficial ownership on September 15, 2026, reporting a call option exercise dated September 12, 2026.

Key Highlights

  • Transaction type: Masters exercised an in-the-money call option at its expiration date on September 12, 2026, acquiring 182,370 ordinary shares.
  • Exercise price: The option carried an aggregate exercise price of $256,221, equivalent to approximately $1.40495 per share.
  • Post-transaction ownership: Following the exercise, Masters beneficially owned 21,792,615 ordinary shares directly.
  • Lock-Up Agreement: According to the filing, the transaction involved no sale or transfer as defined in the Lock-Up Agreement dated September 8, 2025, to which Masters is a party.
  • Prior filing correction: The filing notes that beneficial ownership was inadvertently underreported by 4,584 shares in an April 2, 2026 filing, and that the number of shares underlying the call option was inadvertently overreported by 2 shares in that same filing; both figures have been corrected here.

Daniel Masters Reports Call Option Exercise and Corrects Prior Beneficial Ownership Figures at CoinShares

According to the filing, Daniel Masters, identified as both a Director and a 10% Owner of CoinShares PLC, exercised a call option on September 12, 2026, acquiring 182,370 ordinary shares. The filing states that the transaction "represents solely the exercise of an in-the-money call option at its expiration date" and that it "involved no sale or other Transfer" as defined under the Lock-Up Agreement dated September 8, 2025. CoinShares PLC is a digital asset investment company traded on NASDAQ under the ticker CSHR.

The call option, reported in Table II of the filing, had a transaction code of X and an exercise price of $0 for the derivative security itself, while the underlying ordinary shares carried an aggregate exercise price of $256,221, or approximately $1.40495 per share, according to the filing. The option covered 182,370 ordinary shares and expired on September 12, 2026, the same date it was exercised. Following the transaction, Masters reported direct beneficial ownership of 21,792,615 ordinary shares, with no remaining derivative securities beneficially owned.

The filing also discloses two corrections to a previously submitted Form 4 filed on April 2, 2026. First, the total number of shares beneficially owned by Masters was "inadvertently underreported by 4,584 shares" in that earlier filing. Second, the number of shares underlying the same call option was "inadvertently overreported by 2 shares" in that filing. The current filing states that both figures have been corrected to reflect actual amounts. Masters signed the filing on September 15, 2026.

What Was Disclosed

The filing reports the exercise of an expiring call option by CoinShares PLC Director and 10% Owner Daniel Masters on September 12, 2026, covering 182,370 ordinary shares at an aggregate exercise price of $256,221, with resulting direct ownership of 21,792,615 shares, and corrections to two figures from a prior filing.