Corrigan Catherine 4

What Happened

• Catherine Corrigan, President & CEO and Director of Exponent (EXPO), exercised stock options and sold shares on June 15, 2026. She exercised a total of 5,605 option shares (3,225 at $25.41 and 2,380 at $29.05), paying roughly $151,070 in exercise costs. She sold 4,119 shares in open-market transactions at $57.13 for total proceeds of about $235,303. Footnotes indicate the stock sales were to cover the option exercise price and taxes (a sell-to-cover/cashless exercise).

Key Details

• Transaction date: June 15, 2026; Form filed June 17, 2026 (within the typical 2-business-day filing window).
• Option exercises: 3,225 shares @ $25.41 = $81,931; 2,380 shares @ $29.05 = $69,139; total exercised = 5,605 shares, cash paid ≈ $151,070.
• Open-market sales: 2,326 shares @ $57.13 = $132,876; 1,793 shares @ $57.13 = $102,427; total sold = 4,119 shares, proceeds ≈ $235,303.
• Derivative entries: two derivative "Disposed" lines correspond to the exercised option share conversions (reported as M). These reflect the option exercise and partial sale to cover costs.
• Shares retained after transactions: filing does not state total holdings; based on reported numbers, she appears to have retained about 1,486 shares from the exercised 5,605 (5,605 exercised − 4,119 sold = 1,486).
• Vesting note: the options become exercisable in four equal annual installments (per footnote).
• Purpose of sales: footnote states sales were to cover exercise price and taxes (routine sell-to-cover), not flagged as a trading plan (no 10b5-1 noted).

Context

• This was primarily an option exercise with a sell-to-cover. That is common when executives exercise vested options and sell some shares immediately to pay the exercise cost and tax withholding. Such transactions are routine and do not necessarily signal a change in the insider’s view of the company.