MALAFRONTE MICHAEL W 4

What Happened
Michael W. Malafronte, Covista’s Lead Independent Director, made open-market purchases of company stock on March 10–11, 2026. He acquired 11,841 shares at a weighted average price of $100.86 ($1,194,339), 15,305 shares at $100.86 ($1,543,734) on March 10, and 8,890 shares at a weighted average price of $100.94 ($897,341) on March 11 — a total of 36,036 shares for approximately $3,635,414. These transactions are purchases (reporting code P), which are often viewed as a bullish signal but do not by themselves indicate the insider’s motive.

Key Details

• Transaction dates: March 10, 2026 (two buys) and March 11, 2026 (one buy). Form filed March 12, 2026.
• Reported prices (weighted averages): $100.86 (March 10 trades) and $100.94 (March 11 trade). Total consideration ≈ $3.64M.
• Price ranges by footnote: March 10 trades executed in multiple trades at $99.51–$102.73 (weighted avg reported). March 11 trades executed in multiple trades at $100.58–$101.00 (weighted avg reported). The filer offers to provide details of individual trade prices on request.
• Ownership after transaction: not specified in the provided filing excerpt.
• Footnote: Reported securities are held by an irrevocable trust for which Malafronte serves as trustee.
• Timeliness: Filing date (Mar 12) follows the reported trade dates (Mar 10–11); the filing does not indicate a late report.

Context

• These were open-market purchases (not option exercises, awards, or gifts). Purchases by directors can be of interest to investors as a direct cash commitment to the company, but they do not guarantee future performance.
• The shares are reported as held via an irrevocable trust (the director is trustee), which can affect how ownership is reported and managed.