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S&P 500 Technology Sector SEC Filings — April 09, 2026

USA S&P 500 Technology

8 high priority9 medium priority17 total filings analysed

Executive Summary

Across 17 filings in the USA S&P 500 Technology stream (broadly interpreted to include adjacent sectors like biotech and software), proxy statements dominate (10/17 filings) signaling routine Q2 2026 AGM season with record dates in March-April and meetings clustered May 19-27, 2026, offering low-materiality governance catalysts. Strong revenue acceleration stands out in biotech/software: ImmunityBio's Q1 2026 net product revenue surged 168% YoY to $44.2M (+15% QoQ) and GameSquare's Q4 2025 revenue jumped 142% YoY to $18.5M with first positive adjusted EBITDA; Simulations Plus Q2 FY2026 revenue +8% YoY to $24.3M but H1 only +3% with EPS guidance cut. Mixed signals include Camden Property Trust's $53M antitrust settlement (no FFO impact) and GameSquare's widened net loss; DNOW's MRC Global acquisition adds $70M synergies. No widespread insider selling or capital allocation shifts noted, but positive forward-looking catalysts like ImmunityBio's supplemental BLA and GameSquare's $85-90M 2026 revenue guide point to growth pockets amid neutral proxy noise. Portfolio-level trends show 3/4 key metric reporters with YoY revenue growth averaging +104% but variable profitability (e.g., GameSquare +EBITDA margin to 9.4%, Simulations +66% gross margin). Implications favor selective longs in high-growth outliers like ImmunityBio while monitoring guidance risks in Simulations Plus.

Tracking the trend? Catch up on the prior S&P 500 Technology Sector SEC Filings digest from April 02, 2026.

Investment Signals(11)

  • Q1 2026 net product revenue +168% YoY to $44.2M (+15% QoQ from Q4 2025 $38.3M), ANKTIVA sales +168% YoY, $380.9M cash position, full QUILT-2.005 trial enrollment for 2026 sBLA

  • Q4 2025 revenue +142% YoY to $18.5M, first positive adjusted EBITDA $1.7M (9.4% margin vs prior loss), FY2025 revenue +64% to $45M, 2026 pro forma revenue guide $85-90M (+28-39% implied)

  • Q2 FY2026 revenue +8% YoY to $24.3M (software +9% to $14.6M), gross margin + to 66%, net income +47% to $4.5M, adjusted EBITDA +32% to $8.7M

  • DNOW Inc.(BULLISH)

    Completed MRC Global acquisition Nov 2025 at 0.9489 share exchange ratio, expanding to 5,000 employees/300+ locations/20+ countries, $70M annual cost synergies expected within 3 years

  • Proposed reorg into MFS Municipal Income Fund to expand high-yield muni allocation to 30-50% (vs current 20% cap), lower expenses/higher liquidity despite modest credit risk increase (MFM CCC/below 25% vs VFL 14%)

  • NCCN guidelines updated March 2026 to include ANKTIVA+BCG (Category 2A), IDMC confirms QUILT-2.005 trial power, no further enrollment needed

  • Pro forma FY2025 revenue $66.6M (+142% implied with TubeBuddy), adjusted EBITDA near breakeven (-$0.4M), gross margin expansion +20.1 pts to 45.9% Q4

  • H1 FY2026 adjusted EBITDA margin + to 29% YoY, services revenue +12% to $19.2M offsetting software -3%, FY2026 revenue guide intact $79-82M (0-4% growth)

  • Camden Property Trust(NEUTRAL-BULLISH)

    $53M RealPage antitrust settlement (2x $26.5M installments) has no impact on 2026 Core FFO/AFFO, liquidity, leverage, dividends, or capital allocation

  • Compensation Committee granted RSAs to CEO (37,985 shares), CFO (17,325), COO (26,510), directors (9,185 each), vesting 1-year or CoC, signaling retention amid development stage

  • Multiple proxies for May 22, 2026 AGM electing 3 directors, say-on-pay, E&Y ratification; strong board continuity in wireless infrastructure

Risk Flags(7)

  • Lowered FY2026 adjusted diluted EPS guide to $0.75-0.85 from $1.03-1.10 due to tax rate + to 23-25%; H1 software revenue -3% YoY to $23.5M despite total +3%

  • Q4 2025 net loss widened to $28.2M from $19.5M (fair value loss on digital assets $20.3M, impairments $12.1M); FY2025 adjusted EBITDA still loss -$4.6M (-10.2% margin)

  • $53M antitrust settlement expense (no insurance), preliminary court approval targeted May 15, 2026; ongoing related litigations to defend

  • Reorg increases HY muni exposure (MFM: Not Rated 40% vs VFL 19%, CCC/below 25% vs 14%, AAA 16% vs 45% as of 12/31/25)

  • Pro forma needed for EBITDA positivity; underlying net unprofitability persists with investment losses and impairments dragging

  • H1 FY2026 total revenue only +3% YoY to $42.7M (software -3%), FY guide implies flat 0-4% growth vs prior implied higher

  • First settlement installment due within 45 days of long-form agreement (target May 7, 2026), potential cash flow strain despite no FFO impact

Opportunities(8)

Sector Themes(6)

  • Proxy Season Peak

    10/17 filings are DEF/DEFA14A for May 19-27, 2026 AGMs (e.g., SBA, Nuvera, Maui Land, Community Bancorp, DNOW, First Northern) with director elections/say-on-pay/auditor ratifications; routine but watch voting outcomes for governance shifts [NEUTRAL, LOW ALPHA]

  • Revenue Hypergrowth in Niches(BULLISH OUTLIERS)

    3 cos (ImmunityBio +168% YoY Q1, GameSquare +142% Q4/+64% FY, Simulations +8% Q2) average +104% YoY bursts in biotech/digital media/software vs muted H1 Simulations +3%; selective tech/biotech outperformance

  • Guidance Mixed with Cuts(CAUTIONARY)

    Positive 2026 outlooks (GameSquare $85-90M rev, Simulations $79-82M rev intact) but EPS cut at Simulations (-23% midpoint); monitor for tax/operational drags in software

  • M&A/Litigation Resolutions(NEUTRAL-POSITIVE)

    DNOW MRC synergies $70M, Camden $53M settlement (no FFO hit); trend toward cleaning balance sheets post-2025 deals

  • Compensation Retention Focus(BULLISH CONVISTION)

    RSA grants (Adial) and say-on-pay votes (multiple proxies) emphasize exec alignment; no sales/pledges noted across filings

  • Fund Reorgs for Yield(OPPORTUNISTIC)

    abrdn VFL-MFM shift to 30-50% HY munis despite credit uptick; lower default history supports income enhancement in fixed income adjacents

Watch List(8)

Filing Analyses(17)
SBA COMMUNICATIONS CORPDEF 14Aneutralmateriality 7/10

09-04-2026

SBA Communications Corporation's definitive proxy statement for the 2026 Annual Meeting of Shareholders on May 22, 2026, at 10:00 AM ET in Boca Raton, Florida, seeks shareholder approval for electing directors Steven E. Bernstein, Laurie Bowen, and Amy E. Wilson for three-year terms; an advisory vote on named executive officer compensation; and ratification of Ernst & Young LLP as independent auditors for fiscal 2026. The Board recommends voting FOR all proposals, with disclosures on corporate governance, executive compensation for PEOs Jeffrey A. Stoops and Brendan T. Cavanagh from 2021-2025, and company operations in wireless infrastructure across multiple countries. No financial performance metrics or period-over-period comparisons are detailed in the provided filing excerpt.

  • ·Record Date: March 26, 2026
  • ·Meeting Location: 8051 Congress Avenue, Boca Raton, Florida 33487
  • ·Voting eligibility: Shareholders of record at close of business on March 26, 2026
  • ·Principal operations: United States, Brazil, Chile, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Peru, South Africa, Tanzania
abrdn National Municipal Income FundDEFA14Apositivemateriality 8/10

09-04-2026

The Board of abrdn National Municipal Income Fund (VFL) is proposing a reorganization into MFS Municipal Income Fund (MFM) to broaden VFL's investment mandate by removing the current 20% limit on High Yield municipal bonds, allowing expected allocations of 30-50% depending on market conditions, which could enhance income, distributions, and risk-adjusted returns through a larger, more liquid fund with lower expenses. This change weighs a modest increase in credit risk—evidenced by MFM's lower AAA exposure (16% vs. VFL's 45%) and higher Not Rated (40% vs. 19%) and CCC/below (25% vs. 14%) holdings as of 12/31/25—against benefits like improved diversification and higher yields. Even if the reorganization fails, the Board plans to broaden VFL's mandate similarly.

  • ·Data sourced from Fund Factsheets as of 12/31/25
  • ·Aberdeen expects to manage with High Yield allocations of 30-50% depending on market conditions, whether reorganization occurs or not
  • ·Historical analysis shows municipal High Yield default rates lower than comparable corporates
ImmunityBio, Inc.8-Kpositivemateriality 9/10

09-04-2026

ImmunityBio reported preliminary Q1 2026 net product revenue of $44.2 million, a 168% YoY increase from Q1 2025 and 15% QoQ growth from Q4 2025's $38.3 million, building on full-year 2025 revenue of $113 million (700% over 2024). ANKTIVA unit sales grew 168% YoY, with approvals in 5 jurisdictions (34 countries) and full enrollment in the QUILT-2.005 trial, supporting a 2026 supplemental BLA. The company ended Q1 2026 with $380.9 million in cash, cash equivalents, and marketable securities.

  • ·NCCN Clinical Practice Guidelines updated in March 2026 to include ANKTIVA plus BCG for BCG-unresponsive NMIBC with papillary-only disease (Category 2A)
  • ·Independent Data Monitoring Committee (IDMC) confirmed adequate statistical power for QUILT-2.005 trial; no additional enrollment required
Federal Home Loan Bank of San Francisco8-Kneutralmateriality 4/10

09-04-2026

The Federal Home Loan Bank of San Francisco reported the creation of direct financial obligations via two consolidated obligation bonds for which it is the primary obligor, each with a par value of $10,000,000, issued on trade dates April 6 and April 7, 2026, settling April 9, 2026, and maturing April 9, 2031. The bonds feature fixed rates of 4.250% (European callable style, next call April 9, 2027) and 4.500% (Bermudan callable style, next call October 9, 2026), as part of routine capital markets funding backed jointly by the eleven Federal Home Loan Banks. No period-over-period comparisons or performance metrics were provided, reflecting standard debt issuance activity.

  • ·First bond (CUSIP 3130BAAC): Next Pay Date October 9, 2026; Rate Type Fixed Constant
  • ·Second bond (CUSIP 3130BA7F): Next Pay Date October 9, 2026; Rate Type Fixed Constant
  • ·Consolidated obligations are joint and several obligations of the eleven Federal Home Loan Banks, not guaranteed by the U.S. government
  • ·Schedule A excludes discount notes with maturity of one year or less issued in ordinary course
Nuvera Communications, Inc.DEF 14Aneutralmateriality 6/10

09-04-2026

Nuvera Communications, Inc. issued a DEF 14A proxy statement for its virtual Annual Meeting of Shareholders on May 21, 2026, at 10:00 a.m. CDT, seeking approval for the election of two director nominees (James J. Seifert and Colleen R. Skillings), ratification of Olsen Thielen & Co., Ltd. as independent auditor for the year ended December 31, 2026, and consideration of a non-binding shareholder proposal (Proposal 3) on which the Board makes no recommendation. As of the March 26, 2026 record date, there were 5,215,348 shares of common stock outstanding, with a quorum requiring 35% presence. The Board recommends voting FOR the nominees and auditor ratification.

  • ·Quorum requires presence of 35% of outstanding shares.
  • ·Proxy voting deadline: May 20, 2026, at 10:59 p.m. CDT via internet or telephone.
  • ·Shareholder proposals for 2027 proxy statement due by December 11, 2026.
  • ·Virtual meeting access: www.virtualshareholdermeeting.com/NUVR2026 using 16-digit control number.
  • ·Board consists of eight directors serving three-year terms.
SBA COMMUNICATIONS CORPDEFA14Aneutralmateriality 4/10

09-04-2026

SBA Communications Corporation issued a Definitive Additional Proxy Statement (DEFA14A) notice for its Annual Meeting of Shareholders on May 22, 2026, at 10:00 A.M. ET in Boca Raton, FL. Key proposals include the election of director nominees Steven E. Bernstein, Laurie Bowen, and Amy E. Wilson for a three-year term; advisory approval of named executive officer compensation; and ratification of Ernst & Young LLP as independent auditors for fiscal 2026. Proxy materials and the 2025 Annual Report are available online at www.edocumentview.com/sbac, with voting required by May 21, 2026.

  • ·Proxy materials request deadline: May 12, 2026
  • ·Meeting address: 8051 Congress Avenue, Boca Raton, FL 33487
  • ·Investor Relations contact: 561-322-7850
MAUI LAND & PINEAPPLE CO INCDEF 14Aneutralmateriality 6/10

09-04-2026

Maui Land & Pineapple Company, Inc. (MLP) has issued a proxy statement for its 2026 virtual Annual Meeting on May 27, 2026, seeking shareholder approval for the election of seven directors for a one-year term, non-binding advisory approval of named executive officer compensation, and ratification of Accuity LLP as independent auditors for fiscal year 2026. The record date is April 2, 2026, with 19,868,771 shares of common stock outstanding. The Board recommends voting 'FOR' all proposals.

  • ·Annual Meeting held virtually on May 27, 2026 at 8:30 a.m. Hawaii Standard Time.
  • ·Notice of Internet Availability mailed on or about April 14, 2026.
  • ·Principal executive office: 500 Office Road, Lahaina, Hawaii 96761.
CAMDEN PROPERTY TRUST8-Kmixedmateriality 8/10

09-04-2026

Camden Property Trust entered into a binding term sheet on April 7, 2026, to settle the 'In Re: RealPage, Inc., Rental Software Antitrust Litigation (No. II)' class action for $53 million, payable in two $26.5 million installments, resolving all claims related to alleged rent collusion via RealPage software. While the settlement incurs a significant one-time cost recorded as Other Non-Operating Expenses, it will not impact 2026 Core FFO or Core AFFO, liquidity, leverage, dividends, or capital allocation, and includes non-material changes to business practices. The settlement requires court approval and does not admit liability, aiming to eliminate litigation risks and distractions.

  • ·First settlement installment due within 45 days of long-form agreement execution; second within four months.
  • ·Plaintiffs to seek preliminary court approval by May 15, 2026; long-form agreement by May 7, 2026.
  • ·No insurance coverage for settlement; company to defend other related litigation.
  • ·Settlement subject to court approval with no assurance of finalization.
ADIAL PHARMACEUTICALS, INC.8-Kneutralmateriality 5/10

09-04-2026

On April 7, 2026, the Compensation Committee of Adial Pharmaceuticals, Inc. approved restricted stock awards (RSAs) to named executive officers and directors under the 2017 Equity Incentive Plan, including 37,985 RSAs to CEO Cary Claiborne, 17,325 to CFO Vinay Shah, and 26,510 to COO Tony Goodman. Additional RSAs of 9,185 each were granted to directors Kevin Schuyler and Robertson H. Gilliland, while director Kermit Anderson received options for 9,185 shares at $1.64 per share. All awards vest in full on the one-year anniversary of the grant date or upon a Change of Control.

  • ·RSAs are subject to forfeiture upon cessation of service if vesting conditions not met.
  • ·A form of Restricted Stock Award Agreement was approved by the Board and filed as Exhibit 10.1.
COMMUNITY BANCORP /VTDEFA14Aneutralmateriality 6/10

09-04-2026

Community Bancorp /VT (CMTV) filed definitive additional proxy materials (DEFA14A) on April 9, 2026, notifying shareholders of the availability of the 2025 Proxy Statement and 2024 Annual Report online for the Annual Meeting on May 20, 2025, at The East Side Restaurant in Newport, Vermont. Key proposals include electing five director nominees (David P. LaForce, Wayne A. Lamberton, Stephen P. Marsh, Carol A. Martin, and Jeffrey L. Moore) for terms expiring at the 2028 annual meeting, an advisory vote to approve executive compensation, an advisory vote on the frequency of future say-on-pay votes (Board recommends 3 years), and ratification of Berry, Dunn, McNeil & Parker, LLC as external auditor for the fiscal year ending December 31, 2025. No financial performance metrics or period-over-period comparisons are provided in the filing.

  • ·Annual meeting social hour starts at 2:00pm ET, formal meeting at 3:00pm ET on May 20, 2025.
  • ·Requests for paper copies of proxy materials must be received by May 9, 2025.
  • ·Online access and voting at www.envisionreports.com/CMTV.
  • ·Company address: 4811 US Route 5, Derby, VT 05829; phone: 802-334-7915.
  • ·Fiscal year end: December 31.
GameSquare Holdings, Inc.8-Kmixedmateriality 9/10

09-04-2026

GameSquare Holdings reported Q4 2025 revenue of $18.5 million, up 142% YoY from $7.6 million, achieving its first positive adjusted EBITDA of $1.7 million (9.4% margin) versus a $3.1 million loss prior year, with gross margin expanding 20.1 percentage points to 45.9%. However, net loss from continuing operations widened to $28.2 million from $19.5 million, driven by $20.3 million fair value loss on digital assets, $1.9 million loss on non-consolidated investments, and $12.1 million impairment. For FY 2025, revenue grew 64% to $45.0 million from $27.5 million, narrowing adjusted EBITDA loss to $4.6 million (-10.2% margin) from $11.9 million (-43.2%), though still unprofitable on a net basis.

  • ·Pro forma Q4 2025 revenue $20.7 million including TubeBuddy, adjusted EBITDA $2.3 million (11.2% margin).
  • ·Pro forma FY 2025 revenue $66.6 million, adjusted EBITDA loss $0.4 million (-0.6% margin).
  • ·2026 guidance (pro forma): revenue $85-90 million, gross margin 35-40%, adjusted EBITDA over $5 million.
  • ·Cash decreased to $4.6 million at Dec 31, 2025 from $12.1 million.
  • ·Yield from onchain strategy: $1.1 million from Aug 1 to Dec 31, 2025.
  • ·$2.5 million remaining under stock repurchase authorization as of March 6, 2026.
COMMUNITY BANCORP /VTDEF 14Aneutralmateriality 6/10

09-04-2026

Community Bancorp /VT (CMTV) has filed a definitive proxy statement for its 2026 Annual Meeting of Shareholders on May 19, 2026, at 3:00 PM ET at The East Side Restaurant in Newport, Vermont, seeking approval for the election of two directors to three-year terms expiring in 2029 and ratification of BDMP Assurance, LLP as external auditors for the fiscal year ending December 31, 2026. The record date is March 25, 2026, with 5,580,648 shares of common stock issued and outstanding, each entitled to one vote. Proxy materials and the 2025 Annual Report are available online at www.envisionreports.com/CMTV.

  • ·Proposal 1 (Election of Directors) is non-routine; broker non-votes not permitted without instructions.
  • ·Proposal 2 (Auditor Ratification) is routine; brokers may vote without instructions.
  • ·401(k) Plan voting instructions due by May 15, 2026.
  • ·RSVP for attendance: Jennifer Desroches at (802) 487-3545 or jdesroches@communitynationalbank.com.
DNOW Inc.DEFA14Aneutralmateriality 4/10

09-04-2026

DNOW Inc. (DNOW) has filed a DEFA14A proxy statement for its annual stockholder meeting on May 20, 2026, at 10:00 am Central Time in Houston, Texas. Key proposals include electing nine director nominees, ratifying KPMG LLP as independent auditors for 2026, and an advisory vote to approve named executive officers' compensation, with the board recommending a FOR vote on all items. No financial metrics or performance data are disclosed in this filing.

  • ·Meeting location: 7402 N. Eldridge Parkway, Houston, Texas 77041
  • ·Deadline to request proxy materials: May 6, 2026
  • ·Voting methods: www.ProxyVote.com, 1-800-579-1639, or sendmaterial@proxyvote.com (include control number)
DNOW Inc.DEF 14Apositivemateriality 8/10

09-04-2026

DNOW Inc.'s DEF 14A Proxy Statement for the 2026 Annual Meeting on May 20, 2026, seeks shareholder approval for electing nine directors, ratifying KPMG LLP as auditors for 2026, and advisory approval of named executive officer compensation. It highlights the completed acquisition of MRC Global Inc. on November 6, 2025 (announced June 26, 2025), via a stock-for-stock exchange of 0.9489 DNOW shares per MRC share, expanding operations to approximately 5,000 team members across more than 300 locations in over 20 countries and expecting $70 million in annual cost synergies within three years. No performance declines or flat metrics are noted in the filing.

  • ·Annual Meeting: May 20, 2026, 10:00 a.m. Central Time at 7402 N. Eldridge Parkway, Houston, TX 77041
  • ·Record Date: March 25, 2026
  • ·MRC Global acquisition exchange ratio: 0.9489 shares of DNOW common stock per MRC Global common stock share
  • ·Proxy materials first distributed on or about April 9, 2026
Adirondack Capital Advisors, LLC13F-HRneutralmateriality 4/10

09-04-2026

Adirondack Capital Advisors, LLC disclosed $155,680,984 in managed equity holdings across 44 positions in its 13F-HR filing as of March 31, 2026. Top holdings include iShares Core S&P 500 ETF ($37,837,341), iShares Core Dividend Growth ETF ($26,673,642), and iShares Core High Dividend ETF ($14,936,149), with additional exposure to individual names like Apple Inc. ($2,406,541) and Berkshire Hathaway Inc. ($4,393,306). All reported positions are held solely with full discretionary voting power.

  • ·Report filed on April 09, 2026
  • ·Filer CIK: 0002107623
  • ·All positions report 0 shared voting power, 0 put/call options
FIRST NORTHERN COMMUNITY BANCORPDEF 14Aneutralmateriality 7/10

09-04-2026

First Northern Community Bancorp has issued its DEF 14A Proxy Statement for the 2026 Annual Meeting of Shareholders on May 19, 2026, at 5:30 p.m. local time at First Northern Bank’s Operations Center in Dixon, California, to elect eleven directors, approve a non-binding advisory proposal on named executive officer compensation, and ratify Baker Tilly US LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026. Shareholders of record as of the close of business on March 31, 2026, when 16,409,660 shares of common stock were outstanding, are entitled to vote, with the Board recommending a FOR vote on all proposals. Cumulative voting is permitted under specified conditions for director elections.

  • ·Annual Meeting location: First Northern Bank’s Operations Center, 210 Stratford Avenue, Dixon, California 95620.
  • ·Record date: close of business on March 31, 2026.
  • ·Mandatory retirement age for directors: 75 years (or, if approved by the Board, at the adjournment of the first Board meeting following the 75th birthday).
  • ·Proxy materials expected to be mailed on or about April 8, 2026.
Simulations Plus, Inc.8-Kmixedmateriality 9/10

09-04-2026

Simulations Plus reported strong Q2 FY2026 results with total revenue up 8% YoY to $24.3 million, software revenue up 9% to $14.6 million, services up 8% to $9.7 million, gross margin expanding to 66%, net income up 47% to $4.5 million, and adjusted EBITDA up 32% to $8.7 million. However, first-half FY2026 total revenue grew only 3% to $42.7 million, with software revenue down 3% to $23.5 million despite services up 12% to $19.2 million. The company lowered FY2026 adjusted diluted EPS guidance to $0.75-$0.85 from $1.03-$1.10 due to an expected tax rate increase to 23-25%, while maintaining revenue guidance at $79M-$82M (0-4% growth).

  • ·Q2 FY2026 adjusted diluted EPS of $0.35, up from $0.31 YoY
  • ·H1 FY2026 adjusted EBITDA margin of 29%, up from 27% YoY
  • ·FY2026 software revenue mix guidance of 57-62%
  • ·FY2026 adjusted EBITDA margin guidance of 26-30%
  • ·Cash and cash equivalents decreased to $25.7M from $30.9M as of Aug 31, 2025
  • ·Deferred revenue increased to $5.5M as of Feb 28, 2026

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