Saligram Ravichandra Krishnamurty 4

What Happened

• Director Saligram Ravichandra Krishnamurty exercised 12,960 stock options (transaction code M) on 2026-06-10 at an exercise price of $49.62 per share (total exercise cost reported $643,075) and immediately sold the 12,960 shares in an open-market sale at $98.00 per share for gross proceeds of $1,270,080. The filing also reports the derivative position as disposed (reported at $0) as part of the exercise/settlement.
• Net proceeds before taxes and fees (sale proceeds minus exercise cost) were roughly $627,005.

Key Details

• Transaction date: 2026-06-10; Form 4 filed 2026-06-11 (filed within the typical 2‑business‑day window).
• Exercise: 12,960 shares @ $49.62 (acquired) — $643,075 total reported cost.
• Sale: 12,960 shares @ $98.00 (disposed) — $1,270,080 gross proceeds.
• Derivative line: 12,960 shares reported disposed at $0, reflecting conversion/termination of the option position.
• Shares owned after the transaction: not specified in the provided filing details.
• No 10b5-1 plan, tax-withholding, or other footnotes were disclosed in the provided summary.

Context

• This is an option exercise followed by an immediate sale (a cashless exercise and disposition), a common practice for insiders monetizing vested awards. Such sales are routine and do not by themselves indicate a change in company outlook.