Director Barry Paul Schwartz filed a Form 4 with the SEC on November 2, 2026, disclosing the exercise of 479 stock options and acquisition of 479 shares of common stock in QumulusAI, Inc. (NASDAQ:QMLS) on that same date.

Key Highlights

  • Transaction code M: Schwartz acquired 479 shares of common stock on 11/02/2026 at a price of $0.69 per share via option exercise.
  • Post-transaction holdings: Schwartz beneficially owns 113,512 shares of common stock following the reported transaction, held directly.
  • RSU component: The 113,512 share total includes 27,847 shares to be issued upon vesting and settlement of restricted stock unit awards granted under the QumulusAI, Inc. 2026 Equity Incentive Plan.
  • Remaining derivative securities: Following the exercise, Schwartz holds 732 stock options (right to buy) with an exercise price of $0.69 and an expiration date of 09/30/2034.
  • Option price: The derivative security carried a price of $0 at the time of the reported transaction.
  • Role: Schwartz is identified in the filing as a Director of QumulusAI, Inc.

Barry Paul Schwartz's November 2026 Option Exercise at QumulusAI

According to the Form 4 filed on November 2, 2026, Barry Paul Schwartz, a director of QumulusAI, Inc. (NASDAQ:QMLS), exercised stock options covering 479 shares of common stock at an exercise price of $0.69 per share. The transaction was coded "M," indicating an exercise or conversion of derivative securities. The filing lists the price of the derivative security itself as $0.

Following the transaction, the filing reports that Schwartz directly and beneficially owns 113,512 shares of common stock. The filing notes that this figure includes 27,847 shares "to be issued upon vesting and settlement pursuant to restricted stock unit awards granted under the QumulusAI, Inc. 2026 Equity Incentive Plan, conditioned upon the Reporting Person remaining a director of QumulusAI through the applicable vesting dates."

In Table II, the filing discloses that after the exercise of 479 options, Schwartz retains 732 stock options with an exercise price of $0.69 and an expiration date of September 30, 2034. The filing describes a multi-stage vesting schedule for these options, including an initial 25% vest on March 14, 2026, monthly vesting of 1/36th of remaining unvested shares, and acceleration events tied to what the filing refers to as "the Acquisition" -- the transaction pursuant to which The Cloud Minders, Inc. became a wholly owned subsidiary of QumulusAI, Inc. under Contribution and Exchange Agreements, as amended.

What Was Disclosed

Director Barry Paul Schwartz reported the exercise of 479 stock options at $0.69 per share in QumulusAI, Inc. on November 2, 2026, resulting in direct beneficial ownership of 113,512 shares of common stock, with 732 options remaining.