SCHLENKER RICHARD L JR 4

What Happened
Richard L. Schlenker Jr., CFO of Exponent, exercised stock options on 2026-02-11, acquiring 4,230 shares at an exercise price of $23.63 per share for a total cash outlay of approximately $99,955. The filing shows the corresponding derivative (the option) was disposed (canceled) as part of the exercise. No sale of the underlying shares was reported in this Form 4.

Key Details

• Transaction date: 2026-02-11; Form 4 filed 2026-02-12 (within the normal two-business-day reporting window).
• Exercise price: $23.63 per share; shares acquired: 4,230; total paid: ~$99,955.
• Derivative disposition: 4,230 options were listed as disposed (as expected when options are exercised).
• Shares owned after the transaction: not stated in the provided filing excerpt.
• Footnotes: F1 notes the option vests in four equal annual installments; F2 is not applicable.
• Transaction code: M (exercise/conversion of derivative).

Context
This was an options exercise (insider converting/options-for-stock) rather than an open-market purchase or sale. Because no immediate sale was reported, it appears the insider acquired and retained the shares rather than selling them for cash; the filing does not indicate a cashless exercise or tax-withholding disposition. Exercises are common as options vest — they represent an acquisition of shares but do not by themselves indicate a change in the executive’s view of the stock.