Kane Katharine 4

What Happened

• Katharine Kane, Senior Vice President and General Counsel of Texas Instruments, exercised stock options covering 6,125 shares (two option lots) on 2026-04-27 and immediately sold the 6,125 shares in the open market the same day.
• Exercise costs: 1,100 shares at $130.52 ($143,572) and 5,025 shares at $174.81 ($878,420) — total exercise outlay $1,021,992. Sales proceeds: 4,175 shares at a weighted avg $270.09 ($1,127,610) and 1,950 shares at a weighted avg $271.11 ($528,673) — total proceeds $1,656,283. Net proceeds before fees/taxes ≈ $634,291.
• Transaction codes: M = option exercise/conversion; S = open-market sale. This is effectively a cashless exercise (exercised options and sold the resulting shares).

Key Details

• Transaction date: 2026-04-27; Form 4 filed 2026-04-28 (timely filing).
• Exercise entries: 1,100 shares @ $130.52 and 5,025 shares @ $174.81 (acquired).
• Sale entries: 4,175 shares @ weighted avg $270.09 (sales ranged $269.54–$270.372; see F1) and 1,950 shares @ weighted avg $271.11 (sales ranged $270.875–$271.28; see F2).
• Shares owned after the transactions: not specified in the filing.
• Vesting footnotes: the exercised options became exercisable in four equal annual installments beginning Jan 24, 2021 (F3) and Jan 27, 2023 (F4).
• No 10b5-1 plan or tax-withholding detail noted in the filing.

Context

• This is a common pattern: an insider exercises vested options and immediately sells the resulting shares to cover costs/take gains (cashless exercise). The filing shows exercise cost, gross sale proceeds, and the price ranges for the sales.
• Sales of exercised option shares are routine and do not by themselves signal management’s view on long-term prospects.