SCHEDULE 13D/A: Dominari Holdings Insiders Boost Stake with Major Stock Option Grant

Dominari Holdings Inc. executives Kyle Wool and Soo Yu have significantly increased their beneficial ownership in the company, primarily through a new stock option grant for 5 million shares to Mr. Wool.

Summary

• Kyle Michael Wool and Soo Yu, husband and wife, are filing Amendment No. 7 to their Schedule 13D, updating their beneficial ownership in Dominari Holdings Inc.
• The primary event triggering this amendment is the acceptance by Kyle Wool of a stock option to purchase 5,000,000 shares of Dominari Holdings' Common Stock from the Issuer's Compensation Committee under the 2022 Equity Incentive Plan on April 16, 2025.
• As of April 16, 2025, Kyle Wool beneficially owns an aggregate of 7,413,590 shares, representing 37.74% of the outstanding Common Stock.
• Soo Yu beneficially owns an aggregate of 7,370,555 shares, representing 37.52% of the outstanding Common Stock.
• These percentages are calculated based on 19,643,897 shares of Common Stock, which includes 14,643,897 shares outstanding as of April 16, 2025, plus the 5,000,000 shares issuable upon exercise of Mr. Wool's new stock option.
• The Reporting Persons have shared voting and dispositive power over 7,355,328 shares.
• Mr. Wool's beneficial ownership includes 6,113,339 shares directly owned (including the 5M option shares) and 1,241,989 shares directly owned by Ms. Yu.
• Mr. Wool also holds sole voting and dispositive power over 58,262 shares held in his SEP-IRA, Rollover IRA, and through LLCs and a UTMA account.
• Ms. Yu holds sole voting and dispositive power over an additional 15,227 shares held in her Pension and through an LLC.
• Within the past 60 days, the Reporting Person acquired 288,814 shares and accompanying Series A and B Warrants at a combined purchase price of $3.47 per share in connection with the Issuer's private placement and registered direct offering that closed on February 12, 2025.
• Additionally, the Reporting Person was issued 154,559 shares of Common Stock by the Compensation Committee on March 24, 2025 (this issuance was listed twice in the document).

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to increased insider ownership and alignment of management interests through a significant stock option grant. However, it's largely neutral as it's a factual disclosure of ownership changes rather than operational performance.

Positives

• The grant of a 5,000,000 share stock option to President Kyle Wool aligns management's interests with shareholder value, as the option's value is tied to the company's stock performance.
• The significant increase in beneficial ownership by key executives (Kyle Wool and Soo Yu now collectively own over 37% of the company on a diluted basis) demonstrates strong insider confidence in Dominari Holdings Inc.'s future.

Risks

• The document notes that 576,368 shares issuable pursuant to Warrants purchased by the Reporting Person are not currently exercisable due to certain beneficial ownership blockers, which limits the immediate liquidity or control over these shares.

Future Outlook

The document states that the Reporting Person may, at any time and from time to time, review or reconsider his position and/or change his purpose regarding the Issuer's securities. No specific forward-looking guidance or financial estimates are provided.

Management Comments

• Kyle Wool serves as President of Dominari Holdings Inc., Chief Executive Officer of Dominari Financial Inc. (the Issuer's financial services subsidiary), and Chief Executive Officer of Dominari Securities LLC (the Issuer's broker-dealer subsidiary).
• Soo Yu serves as Chief Operating Officer of Dominari Securities and previously as a special projects manager and registered brokerage representative.
• Both Kyle Wool and Soo Yu serve as directors on the board of directors of Dominari Holdings Inc.

Industry Context

This filing is a routine update to beneficial ownership by insiders, common in publicly traded companies. It reflects changes in executive compensation and ownership structure rather than broader industry trends or competitive positioning.

Comparison to Industry Standards

• The document does not provide specific comparable companies, projects, or results to assess the reported beneficial ownership or stock option grant against global benchmarks or industry standards.

Management Changes

Corporate Governance

Related Party Transactions

• Kyle Wool, as President and CEO of subsidiaries, received a stock option to purchase 5,000,000 shares from the Issuer's Compensation Committee.
• Soo Yu, spouse of Kyle Wool and COO of a subsidiary, has beneficial ownership shared with Mr. Wool and also holds shares directly.

Stakeholder Impact

• Shareholders: Potential for dilution upon the exercise of the 5,000,000 share stock option, but also increased alignment of a key executive's interests with shareholder value.
• Employees: The use of the 2022 Equity Incentive Plan for executive compensation suggests a framework for equity-based incentives within the company.

Next Steps

• The 5,000,000 share stock option granted to Kyle Wool is exercisable within 60 days of April 16, 2025.

Key Dates

Keywords

Dominari Holdings Inc., Schedule 13D/A, beneficial ownership, stock option, insider ownership, Kyle Wool, Soo Yu, equity incentive plan, corporate governance, SEC filing