Caneris Thomas A 4
4 · LSI INDUSTRIES INC · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
LSI Industries EVP Thomas Caneris Exercises Options, Sells Shares
What Happened
Thomas A. Caneris, EVP, HR and General Counsel of LSI Industries (LYTS), exercised 60,000 options (reported as acquired at $4.04 each; $242,400 total) and on the same date sold a total of 109,226 shares in open-market transactions for aggregate proceeds of about $2.65 million (weighted average sale price $24.29). The Form 4 also reports a 60,000-share derivative line at $0 (disposed), which appears alongside the exercise and sales on May 28, 2026.
Key Details
- Transaction date: May 28, 2026 (Form filed June 1, 2026). Filing date appears within the normal 2-business-day window.
- Exercise: 60,000 shares exercised at $4.04 per share (cost $242,400).
- Sales: 60,000 shares sold @ weighted avg $24.29 ($1,457,400); 8,151 shares sold @ $24.29 ($197,988); 41,075 shares sold @ $24.29 ($997,712). Total proceeds ≈ $2,653,100. Sales ranged $24.02–$24.42 (F1).
- Derivative line: 60,000 shares reported as disposed at $0 (derivative). The filing does not explicitly state the settlement mechanism.
- Shares owned after transaction: Not specified on this Form 4 (holdings previously reported — F2).
- Notable footnotes: F1 explains weighted-average sale price and price range; F3 describes the non‑qualified option grant (inducement award, vesting terms) under which the option was granted.
Context
Because the exercise and multiple sales occurred the same day, the transactions are consistent with a cashless or simultaneous exercise-and-sell pattern (exercise of options followed by immediate open‑market sales). The Form does not state motivations; sales by executives are often routine (liquidity, tax withholding, or portfolio management) rather than a clear signal about company prospects. For full background on the option grant and prior holdings, see the footnotes and prior Form 4 filings.
Insider Transaction Report
- Exercise/Conversion
Common Shares
2026-05-28$4.04/sh+60,000$242,400→ 174,016 total - Sale
Common Shares
[F1]2026-05-28$24.29/sh−60,000$1,457,400→ 114,016 total - Sale
Common Shares
[F1]2026-05-28$24.29/sh−8,151$197,988→ 105,865 total - Sale
Common Shares
[F1]2026-05-28$24.29/sh−41,075$997,712→ 64,790 total - Exercise/Conversion
Option to Buy
[F2][F3]2026-05-28−60,000→ 40,000 totalExercise: $4.04Exp: 2029-08-05→ Common Shares (60,000 underlying)
Footnotes (3)
- [F1]The reported price is a weighted average price. These shares were sold in multiple transactions ranging from $24.02 to $24.42. The Reporting Person undertakes to provide full pricing information to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission upon request.
- [F2]These holdings have been previously reported on Form 4.
- [F3]Non-qualified stock option granted pursuant to the Employment Offer Letter dated June 13, 2019 between the Reporting Person and the Issuer as an inducement award aside the Issuer's 2012 Stock Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The option vests as follows: 100,000 shares on August 5, 2022. The vesting of the option is subject to the Reporting Person's continued employment with the Issuer as SVP, HR and General Counsel on August 5, 2022.