Beard, Stephen W. 4

What Happened Stephen W. Beard, Chairman and CEO of Covista Inc. (CVSA), sold a total of 5,291 shares in two open‑market transactions: 2,762 shares on 2026-06-10 at a weighted average price of $130.14 for proceeds of $359,443, and 2,529 shares on 2026-06-11 at a weighted average price of $130.78 for proceeds of $330,755 — total proceeds about $690,198. These were sales (not purchases) and were effected pursuant to a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction dates: 2026-06-10 (2,762 shares @ $130.14, $359,443) and 2026-06-11 (2,529 shares @ $130.78, $330,755). Total shares sold: 5,291; total proceeds ≈ $690,198.
• Report filed: Form 4 filed 2026-06-12 covering transactions through 2026-06-10 (timely filing).
• 10b5-1 plan: Trades were made under a Rule 10b5-1 trading plan adopted by Beard on December 10, 2025 (per footnote).
• Reason per filing: Shares sold represent a portion of holdings in excess of Covista’s Stock Ownership and Holding Requirements and were executed in pre-scheduled increments.
• Trade price detail: The reported prices are weighted averages. The 6/10 trades were executed across prices ranging $130.02–$130.39; the 6/11 trades ranged $130.26–$131.465. The filer offers to provide detailed per-trade prices/quantities upon request.
• Policy note: Per Covista policy, Beard is not permitted to make discretionary trades outside a pre-established plan absent hardship.
• Shares owned after the transaction: Not specified in the provided filing.

Context

• These sales were executed under a pre-scheduled 10b5-1 plan, which typically indicates routine, pre-authorized dispositions rather than ad hoc insider selling. For retail investors, purchases are usually more informative about insider confidence than routine plan-driven sales.