Beard, Stephen W. 4

What Happened

• Stephen W. Beard, Covista's Chairman & CEO, sold 15,874 shares on May 8, 2026 in an open-market/plan sale for total net proceeds of $2,083,509. The filing reports a weighted-average sale price of $131.25 per share (individual trades ranged $130.00–$132.67). This was a sale (not a purchase), which is often routine and driven by pre-set plans or holding-rule compliance rather than a directional signal.

Key Details

• Transaction date: May 8, 2026 (filed with the SEC on May 12, 2026; filing appears timely)
• Shares sold: 15,874; weighted-average price: $131.25; trade price range: $130.00–$132.67
• Reported proceeds: $2,083,509
• Shares owned after transaction: Not specified in the provided filing excerpt
• Notable footnotes:
  • Transaction executed under a Rule 10b5-1 trading plan adopted Dec 10, 2025 (pre-scheduled increments).
  • Sales represent a portion of holdings exceeding Covista’s Stock Ownership and Holding Requirements.
  • No discretionary trading permitted under company policy; sales must follow a pre-established plan absent hardship.
  • Multiple trades were executed; the filer can provide per-trade share counts and prices on request.

Context

• This was a planned sale under a 10b5-1 program — a compliance tool that lets insiders sell predetermined amounts at set times. Such transactions are generally viewed as routine (e.g., to meet diversification, tax, or holding-rule requirements) and not necessarily a direct signal about the CEO’s view of company prospects.