Hayward Donald R. 4

What Happened
Donald R. Hayward, a director of Clearfield, Inc. (CLFD), sold 3,595 shares in an open-market sale on February 19, 2026. The weighted-average sale price reported was $32.00 per share, for total proceeds of approximately $115,040. This transaction is a sale (not a purchase or option exercise) and is commonly considered routine insider selling.

Key Details

• Transaction date: 2026-02-19 (reported on Form 4 filed 2026-02-20) — filing appears timely.
• Price: weighted-average $32.00; footnote reports trades executed at prices ranging $32.00 to $32.06.
• Shares sold: 3,595; proceeds ≈ $115,040.
• Shares owned after transaction: not specified in the provided filing details.
• Footnote: reporting person can provide a breakdown of the number of shares sold at each separate price upon request. No 10b5-1 plan or other special instructions are disclosed in the provided information.
• Transaction code: S = Sale.

Context
Insider sales can be for many reasons (diversification, personal liquidity, etc.) and do not by themselves indicate a change in company outlook. For retail investors, purchases by insiders often carry more actionable weight than routine sales, but note the size and timing relative to other insider activity and company news when assessing significance.