Deven Soni and Shilpa Gupta filed a joint Schedule 13D with the SEC on November 2, 2026, disclosing beneficial ownership positions in Vertical Data Inc. as of the triggering event date of March 11, 2026.

Key Highlights

  • Combined beneficial ownership: Deven Soni reported aggregate beneficial ownership of 2,864,947 shares, representing 18.7% of Vertical Data Inc. common stock.
  • Co-filer ownership: Shilpa Gupta, Mr. Soni's spouse, reported 2,654,850 shares beneficially owned, representing 17.5% of the class.
  • Shared ownership vehicle: AASD Investments LLC, of which Mr. Soni and Ms. Gupta are the sole members each holding a 50% interest, is the record holder of 2,654,850 shares.
  • RSU settlement: On October 16, 2026, 81,118 restricted stock units granted September 17, 2026 settled; the issuer withheld 21,134 shares at $4.10 per share for tax obligations and delivered 59,984 shares to Mr. Soni.
  • Founder shares history: AASD Investments LLC originally purchased 10,500,000 shares on May 3, 2024 at $0.0001 per share; 8,715,000 of those shares were cancelled under a Shares Adjustment Letter Agreement dated September 5, 2025.
  • Exchange listing pursuit: According to the filing, "the Issuer has publicly disclosed that it is pursuing a listing of its common stock on a national securities exchange."

Soni and Gupta Disclose Ownership Stakes in Vertical Data Inc.

Deven Soni and Shilpa Gupta filed a joint Schedule 13D disclosing their beneficial ownership in Vertical Data Inc. (CUSIP 92490D105), whose common stock carries a par value of $0.0001 per share. The filing identifies Mr. Soni as Chairman of the Board, President, and Chief Executive Officer of Vertical Data Inc., while Ms. Gupta holds no position with the issuer. The percentages reported are based on 15,185,582 shares of common stock outstanding, according to the filing.

The shares covered by the filing were acquired through several channels. AASD Investments LLC received 1,785,000 founder shares on May 3, 2024 at $0.0001 per share. An additional 675,000 shares were acquired on December 2, 2025 upon exercise of stock options at an exercise price of $0.05 per share, paid from personal funds. A further 180,000 shares were acquired in settlement of accrued fees for services at $0.50 per share, and 14,850 shares were acquired in settlement of accrued compensation at $3.03 per share, with no cash consideration paid for either. Mr. Soni individually also holds 150,113 shares issuable upon exercise of stock options exercisable within 60 days of the filing date, at $0.05 per share.

The filing states that the source of funds is listed as "PF, OO" for Mr. Soni and "OO" for Ms. Gupta. Regarding purpose, the filing states the reporting persons "hold those securities for investment." Mr. Soni noted he expects to acquire additional securities as compensation for services, including upon settlement of restricted stock units and exercise of outstanding stock options. The reporting persons indicated they may acquire or dispose of securities depending on market conditions and the financial position of the issuer.

What Was Disclosed

Deven Soni and Shilpa Gupta jointly disclosed beneficial ownership positions in Vertical Data Inc. totaling 18.7% and 17.5% of common stock, respectively, held through AASD Investments LLC and individual awards, via a Schedule 13D filed November 2, 2026.