Steel Partners Holdings L.P. - Nov 20, 2025 Form 4 Insider Report for SPRUCE POWER HOLDING CORP (SPRU)

Role: 10%+ Owner
Signature: By: Steel Partners Holdings L.P., By: Steel Partners Holdings GP Inc., General Partner, By: /s/ Maria Reda, Secretary
Stock symbol: SPRU
Transactions as of: Nov 20, 2025
Transactions value $: $993,191
Form type: 4
Date filed: 11/24/2025, 05:42 PM
Previous filing: Nov 19, 2025
Next filing: Nov 28, 2025
SEC: View on sec.gov

Reporting Owners (6)

Name	Relationship	Address	Signature	Signature date	CIK
STEEL PARTNERS HOLDINGS L.P.	10%+ Owner	590 MADISON AVENUE, 32ND FLOOR, NEW YORK	By: Steel Partners Holdings L.P., By: Steel Partners Holdings GP Inc., General Partner, By: /s/ Maria Reda, Secretary	2025-11-24	0001452857
Steel Partners Holdings GP Inc.	10%+ Owner	590 MADISON AVENUE, 32ND FLOOR, NEW YORK	By: Steel Partners Holdings GP Inc., General Partner, By: /s/ Maria Reda, Secretary	2025-11-24	0001537666
SPH Group LLC	10%+ Owner	C/O STEEL PARTNERS HOLDINGS L.P., 590 MADISON AVENUE, 32ND FLOOR, NEW YORK	By: SPH Group LLC, By: Steel Partners Holdings GP Inc., Managing Member, By: /s/ Maria Reda, Secretary	2025-11-24	0001522067
SPH Group Holdings LLC	10%+ Owner	C/O STEEL PARTNERS HOLDINGS L.P., 590 MADISON AVENUE, 32ND FLOOR, NEW YORK	By: SPH Group Holdings LLC, By: Steel Partners Holdings GP Inc., Manager, By: /s/ Maria Reda, Secretary	2025-11-24	0001522066
Steel Excel Inc.	10%+ Owner	590 MADISON AVENUE, 32ND FLOOR, NEW YORK	By: Steel Excel Inc., By: /s/ Maria Reda, Secretary	2025-11-24	0000709804
Steel Connect LLC	10%+ Owner	590 MADISON AVENUE, 32ND FLOOR, NEW YORK	By: Steel Connect LLC., By: /s/ Maria Reda, Secretary	2025-11-24	0000914712

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPRU	Common Stock, par value $0.0001 per share	Purchase	$344K	+69.4K	+2.61%	$4.97	2.73M	Nov 20, 2025	By Steel Connect Sub LLC	F1, F2
transaction	SPRU	Common Stock, par value $0.0001 per share	Purchase	$87.5K	+17.7K	+0.65%	$4.95	2.74M	Nov 21, 2025	By Steel Connect Sub LLC	F1, F2
transaction	SPRU	Common Stock, par value $0.0001 per share	Purchase	$26K	+6.69K	+0.24%	$3.88	2.75M	Nov 24, 2025	By Steel Connect Sub LLC	F1, F2
transaction	SPRU	Common Stock, par value $0.0001 per share	Purchase	$535K	+115K	+4.17%	$4.67	2.87M	Nov 24, 2025	By Steel Connect Sub LLC	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel") and Steel Connect LLC ("Steel Connect") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of common stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of his or its pecuniary interest therein.
F2	Represents securities owned directly by Steel Connect Sub LLC ("Steel Connect Sub"). Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.

Content

This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel") and Steel Connect LLC ("Steel Connect") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of common stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of his or its pecuniary interest therein.

Represents securities owned directly by Steel Connect Sub LLC ("Steel Connect Sub"). Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.