Stephen Eric Hunton, Chief Marketing Officer of QumulusAI, Inc. (NASDAQ:QMLS), filed a Form 4 on November 2, 2026, reporting a stock option exercise dated October 29, 2026.

Key Highlights

  • Transaction: Hunton exercised a stock option (transaction code M) for 2,998 shares of Common Stock at a price of $0.69 per share on October 29, 2026.
  • Beneficial ownership after transaction: Hunton directly owned 210,294 shares of Common Stock following the reported transaction.
  • RSU component: According to the filing, 147,899 of those shares are to be issued upon vesting under restricted stock unit awards granted under the QumulusAI, Inc. 2026 Equity Incentive Plan, conditioned on Hunton remaining an employee through applicable vesting dates.
  • Remaining options: Following the transaction, Hunton held 4,570 stock options (right to buy) with an exercise price of $0.69 and an expiration date of September 30, 2034.
  • Option price: The derivative security was acquired at a price of $0 at exercise, with the underlying exercise price stated as $0.69.

QumulusAI CMO Hunton Reports Option Exercise and Post-Transaction Holdings

According to the Form 4 filed with the U.S. Securities and Exchange Commission, Stephen Eric Hunton, serving as Chief Marketing Officer of QumulusAI, Inc. (NASDAQ:QMLS), reported a single non-derivative transaction on October 29, 2026. Hunton acquired 2,998 shares of Common Stock through the exercise of a stock option, recorded under transaction code M, at a price of $0.69 per share. Following this transaction, the filing reports his direct beneficial ownership of Common Stock at 210,294 shares.

The filing notes that 147,899 of those 210,294 shares are subject to restricted stock unit awards granted under the QumulusAI, Inc. 2026 Equity Incentive Plan, and are "to be issued upon vesting," conditioned upon Hunton "remaining an employee of QumulusAI through the applicable vesting dates," as stated in the filing's explanation of responses.

On the derivative securities side, the filing describes the vesting schedule of the exercised stock option in detail. The option vested with respect to 25% of shares on March 14, 2026, with 1/36th of the remaining unvested shares vesting monthly thereafter prior to an acquisition event. The filing references "Contribution and Exchange Agreements, as amended, between QumulusAI, Inc. and shareholders of The Cloud Minders, Inc., pursuant to which The Cloud Minders, Inc. became a wholly owned subsidiary of QumulusAI, Inc." as the Acquisition milestone triggering further accelerated vesting. After that event, 50% of remaining unvested shares vested, followed by 1/18th of remaining unvested shares monthly. Following the reported exercise of 2,998 options, the filing states Hunton held 4,570 remaining stock options, directly owned, expiring September 30, 2034.

What Was Disclosed

Hunton's Form 4 discloses the exercise of 2,998 stock options in QumulusAI, Inc. on October 29, 2026, at $0.69 per share, resulting in direct beneficial ownership of 210,294 Common Stock shares and 4,570 remaining options expiring September 30, 2034.