Norrod Forrest Eugene 4

What Happened

• Forrest Norrod (EVP & GM, Design) exercised 8,237 stock options at $34.19 per share (cost ≈ $281,623) on May 20, 2026, and executed multiple open-market sales the same day disposing of 19,487 shares for aggregate proceeds of about $8,406,785.
• The Form 4 also records an 8,237-share derivative disposition at $0 (reported separately), which commonly reflects net settlement or tax-withholding related to an option exercise.

Key Details

• Transaction date: May 20, 2026; Form 4 filed May 22, 2026 (filed within the normal 2-business-day window; no late filing indicated).
• Sales prices (lot-weighted) ranged ~ $427.03 to $436.50 per share across multiple trades; overall sales totaled ~ $8.41M.
• Options exercised at $34.19 per share for a cash outlay of ≈ $281,623.
• Sales and the option exercises were effected pursuant to a Rule 10b5-1 trading plan adopted June 6, 2025 (Footnotes F1, F2).
• Shares owned after the transactions are not provided in the summary information supplied here (not disclosed in the excerpt).
• Transaction codes: M = option exercise/conversion; S = open-market sale.

Context

• This pattern—exercise of options followed by same-day sales—often reflects a planned (or cashless) exercise and sale; here the filings show the exercise and separate sales, and footnotes indicate the trades were pre-arranged under a 10b5-1 plan.
• For retail investors: these are executive sales under a pre-established plan and are routine disclosures of liquidity; they are factual transfers of shares and do not, by themselves, indicate company performance or insider sentiment.