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EXPONENT INC·4

Apr 16, 5:18 PM ET

Corrigan Catherine 4

Research Summary

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Exponent (EXPO) CEO Catherine Corrigan Exercises Options, Sells Shares

What Happened
Catherine Corrigan, President & CEO and a director of Exponent (EXPO), exercised stock options and sold a portion of the resulting shares on March 16, 2026 and April 15, 2026. She exercised a total of 11,211 option shares (3,226 + 2,380 on 3/16; 3,225 + 2,380 on 4/15) at exercise prices of $25.41 (3,226/3,225 shares) and $29.05 (2,380 shares each date), incurring aggregate exercise costs of about $302,166. On the same dates she sold a total of 7,821 shares (3,912 on 3/16 and 3,909 on 4/15) in open-market transactions at prices of $67.49 and $67.70, generating combined proceeds of approximately $528,639. The sequence — option exercise followed by sales on the same days — is consistent with a cashless exercise where some exercised shares are immediately sold to cover costs/taxes.

Key Details

  • Dates and prices:
    • 2026-03-16: Exercised 3,226 @ $25.41 and 2,380 @ $29.05; sold 2,214 @ $67.49 and 1,698 @ $67.49.
    • 2026-04-15: Exercised 3,225 @ $25.41 and 2,380 @ $29.05; sold 2,212 @ $67.70 and 1,697 @ $67.70.
  • Totals: 11,211 shares exercised; 7,821 shares sold for ≈ $528,639; total exercise cost ≈ $302,166.
  • Shares owned after transaction: Not specified in the provided filing excerpt.
  • Footnotes: F1 notes the option vests in four equal annual installments; F2 marked not applicable.
  • Timeliness: The March 16 transactions were reported in a Form 4 filed on 2026-04-16 (appears late relative to the two-business-day reporting rule); the April 15 trades were reported on 2026-04-16 (within reporting window).

Context

  • These filings show option exercises (derivative transactions) followed by open-market sales of shares — commonly a cashless exercise pattern used to cover exercise costs and taxes. Exercises are informative (management converting options into shares), while routine sales after exercise do not necessarily signal a change in view of the company.
  • The filing does not provide additional plans (e.g., a 10b5‑1 plan) or indicate gift/tax‑withholding codes beyond the standard exercise and sale entries.