{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-018825","form_type":"8-K","ticker":"BENF","cik":"0001775734","company_name":"Beneficient","filed_at":"2025-10-21T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.399738+00:00","generated_at":"2026-05-17T03:03:30.823644+00:00","sec_items":["3.02","7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Beneficient Chairman and Interim CEO Convert $52.6M in Preferred Units for 101.3M Class A Shares","bullets":["Chairman Hicks converted $48M for 92.5M shares; CEO Silk converted $4.6M for 8.8M shares; total 101.3M shares issued.","Conversion shares locked up until Oct 1, 2028; insiders forfeit appreciation to avoid near-term market dilution.","Conversion addresses Nasdaq minimum equity deficiency; company now seeks compliance via market value of listed securities (MVLS).","Insiders gave up liquidation preference, preferred return, and other senior rights, becoming common-equity aligned."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-018825","json":"https://secwatch.observer/filing/0001493152-25-018825.json","markdown":"https://secwatch.observer/filing/0001493152-25-018825.md","text":"https://secwatch.observer/filing/0001493152-25-018825.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1775734/000149315225018825/0001493152-25-018825-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1775734/000149315225018825/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T03:03:30.823644+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}