Christopher S. Downs, Interim CFO and Secretary of Vertical Data Inc., filed a Form 4 on November 2, 2026, disclosing the acquisition of 1,270 shares of common stock on October 30, 2026, through his consulting entity Lincoln Hall Advisors LLC.

Key Highlights

  • Transaction date: 1,270 shares of Vertical Data Inc. common stock were acquired on October 30, 2026.
  • Price per share: Shares were issued at $3.937, representing the volume-weighted average price on the OTCQB Marketplace for all trading days in October 2026.
  • Compensation in lieu of cash: The shares were issued in satisfaction of a $5,000 monthly equity fee for October 2026 under a Consulting Agreement effective August 1, 2026.
  • Indirect ownership: Following the transaction, Downs beneficially owns 3,518 shares indirectly through Lincoln Hall Advisors LLC, a Wyoming limited liability company of which he is the sole member.
  • Plan basis: Shares were issued under the issuer's 2024 Stock Incentive Plan, pursuant to Section 2.b of the Consulting Agreement between the issuer and Lincoln Hall Advisors LLC.

Vertical Data Inc. Issues Equity Fee Shares to Interim CFO's Consulting Entity

According to the Form 4 filing, Christopher S. Downs, serving as Interim CFO and Secretary of Vertical Data Inc. (OTC:VDTA), reported the acquisition of 1,270 shares of the company's common stock on October 30, 2026. The transaction code is listed as "A" (acquisition). The shares were not purchased on the open market; instead, according to the filing's explanation of responses, they were issued under the issuer's 2024 Stock Incentive Plan.

The filing states the shares were issued pursuant to Section 2.b of a Consulting Agreement between the issuer and Lincoln Hall Advisors LLC, effective August 1, 2026, "in satisfaction of the $5,000 monthly equity fee for October 2026, received in shares in lieu of cash." The number of shares was calculated as $5,000 divided by the volume-weighted average price of the issuer's common stock on the OTCQB Marketplace for all trading days in October 2026 ($3.9370), rounded down to the nearest whole share, resulting in 1,270 shares at a reported price of $3.937.

The shares are held of record by Lincoln Hall Advisors LLC, described in the filing as "a Wyoming limited liability company of which the Reporting Person is the sole member, through which the Reporting Person provides services to the Issuer." The ownership is therefore classified as indirect. Following the reported transaction, Downs beneficially owns 3,518 shares of Vertical Data Inc. common stock indirectly through Lincoln Hall Advisors LLC. No derivative securities transactions were reported in Table II of the filing.

What Was Disclosed

Christopher S. Downs, Interim CFO and Secretary, reported the indirect acquisition of 1,270 Vertical Data Inc. common shares on October 30, 2026, at $3.937 per share through Lincoln Hall Advisors LLC, as equity compensation under a consulting agreement, bringing his indirect beneficial ownership to 3,518 shares.