Tice P. Brown Reports 12.1% Stake in Empery Digital Inc. and Demands Resumption of Buybacks

Tice P. Brown filed Amendment No. 4 to Schedule 13D on April 27, 2026, reporting a 12.1% beneficial ownership stake in Empery Digital Inc. (EMPD), consisting of 3,342,022 shares. While the reporting persons have not conducted new transactions since the previous amendment, their ownership percentage increased from approximately 5.8% to 12.1% primarily due to a decrease in the issuer's total outstanding shares. In a strongly worded letter to the Board of Directors, Mr. Brown demanded the immediate reinstatement of maximum daily share buybacks, criticizing management for halting the program despite a significant discount to Net Asset Value (NAV). Brown accused CEO Ryan Lane of prioritizing hedge fund fees and personal compensation over shareholder value, noting that the CEO owns only 0.3% of the company. Additionally, while Mr. Brown previously notified the company of his intent to nominate himself for the Board of Directors, he has decided not to proceed with the nomination at the 2026 annual meeting at this time, though he reserves all rights to engage with management or propose future governance changes.