DOUGLAS POLINSKY - 31 Jul 2025 Form 4 Insider Report for Mill City Ventures III, Ltd (MCVT)

Role: Chief Executive Officer, Director
Signature: Douglas Polinsky
Issuer symbol: MCVT
Transactions as of: 31 Jul 2025
Transactions value $: $3,768,751
Form type: 4
Filing time: 04 Aug 2025, 19:06:15 UTC
Previous filing: 14 Mar 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
POLINSKY DOUGLAS MICHAEL	Chief Executive Officer, Director	1907 WAYZATA BOULEVARD, SUITE 205, WAYZATA	Douglas Polinsky	04 Aug 2025	0001394819

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MCVT	Common Stock Purchase Warrant	Award	$1,687,500	+311,347	$5.42	311,347	31 Jul 2025	Common Stock	311,347	$5.42	Direct	F1
transaction	MCVT	Common Stock Purchase Warrant	Award	$1,350,002	+207,565	$6.50	207,565	31 Jul 2025	Common Stock	207,565	$6.50	Direct	F1
transaction	MCVT	Common Stock Purchase Warrant	Award	$731,247	+103,782	$7.05	103,782	31 Jul 2025	Common Stock	103,782	$7.05	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The warrants are exercisable for a period of five years. The warrants will vest over a period of 24 months starting six months from the issue date in four equal instalments (being 25% every six months), subject to Mr. Polinsky being employed by Mill City Ventures III, LP at each respective vesting date. Notwithstanding the foregoing, in the event that Mr. Polinsky is terminated other than for cause or resigns for good reason (as defined in the individual's employment agreement), the vesting of all of such warrants will immediately accelerate and be fully vested as of the date of such termination.

Content

The warrants are exercisable for a period of five years. The warrants will vest over a period of 24 months starting six months from the issue date in four equal instalments (being 25% every six months), subject to Mr. Polinsky being employed by Mill City Ventures III, LP at each respective vesting date. Notwithstanding the foregoing, in the event that Mr. Polinsky is terminated other than for cause or resigns for good reason (as defined in the individual's employment agreement), the vesting of all of such warrants will immediately accelerate and be fully vested as of the date of such termination.