Former CEO & 10% Owner Sells $2.3M in Shares, Details Resignation & Severance
MRDN has more than doubled off its 52-week low of $5.8.
Summary
Former CEO and 10% owner, Anthony Brian Goodman, and Luxor Capital, LLC, reported selling over $2.3 million in company shares, alongside details of Goodman's resignation and a nearly $1 million severance package.
Key Events · Ownership and Investor Activity · MRDN
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Significant Insider Selling
Anthony Brian Goodman and Luxor Capital, LLC reported combined open market sales of 210,730 shares totaling approximately $2,324,855 from June 30, 2025, through June 12, 2026. This represents 1.28% of the company's market capitalization.
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Executive Resignation
Anthony Brian Goodman resigned as President, CEO, Principal Executive Officer, Secretary, Treasurer, and Board member effective December 12, 2025.
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Substantial Severance Package
Mr. Goodman received a severance payment of $951,750 plus $46,792 in accrued vacation pay, totaling nearly $1 million, upon his departure.
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Share Conversions and Vesting
300,000 unvested restricted stock units (RSUs) granted to Mr. Goodman became 100% vested and were issued on his termination date. He also converted 1,000 shares of Series B Preferred Stock into 83,333 shares of Common Stock.
Analysis · MRDN · Technology
This Schedule 13D/A provides a comprehensive update on the significant reduction in ownership by former CEO and 10% owner, Anthony Brian Goodman, and his affiliated entity, Luxor Capital, LLC. The combined sales of over $2.3 million represent a substantial portion of the company's market capitalization, indicating a major distribution by a key insider. The filing also details Goodman's resignation from all executive and board roles in December 2025, along with a nearly $1 million severance package and the vesting of 300,000 restricted stock units. This complete exit from management and significant liquidation of holdings by a founder is a strong negative signal for investors.
At the time of this filing, MRDN was trading at $14.32 on NASDAQ in the Technology sector, with a market capitalization of approximately $181.4M. The 52-week trading range was $5.80 to $22.78. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.