Marcus (MCS) GC Thomas Kissinger Exercises Stock Options

What Happened

• Thomas F. Kissinger, Senior Executive Vice President, General Counsel & Secretary and a director of Marcus Corporation (MCS), exercised vested stock options on August 3, 2026. He exercised options to purchase a total of 110,500 shares (24,400; 39,000; 47,100) at strike prices $27.00, $28.88 and $21.84 respectively (aggregate exercise cost shown $2,813,784).
• The company withheld 98,374 shares to cover the exercise price and tax withholding, using the closing price on Aug 3, 2026 of $30.69 (withheld value reported $3,019,098). After withholding, Kissinger received a net of 12,126 shares, worth approximately $372,145 at the $30.69 close. This was a net (cashless) exercise rather than an open-market sale.

Key Details

• Transaction date: August 3, 2026 (Form filed Aug 19, 2026; filing is amended and appears late).
• Option exercises (gross): 24,400 @ $27.00 (exercise cost $658,800); 39,000 @ $28.88 ($1,126,320); 47,100 @ $21.84 ($1,028,664).
• Shares withheld for exercise/taxes (per company valuation $30.69): 22,499 (value $690,494); 37,167 ($1,140,655); 38,708 ($1,187,949) — total withheld value $3,019,098.
• Net shares received: 12,126; approximate market value at close on Aug 3: $372,145.
• Transaction codes: M = option exercise; F = payment of exercise price/tax withholding (net/cashless exercise). Footnotes F1–F3 confirm these were net exercises under the Marcus Corporation 2004 Equity and Incentive Awards Plan. Footnotes F5–F6 describe original vesting schedules for the options.
• Shares owned after transaction: not specified in the provided excerpt.
• Timeliness: Amended Form 4 filed Aug 19 for Aug 3 transactions — indicates a late/amended filing.

Context

• This was a net (cashless) exercise: the company withheld shares to cover the exercise cost and tax withholding rather than the insider selling shares on the open market. Such transactions are routine for option holders and do not necessarily indicate a change in insider sentiment.
• For retail investors, the meaningful takeaway is a modest net acquisition (12,126 shares) resulting from exercising existing option grants, but the late/amended filing reduces immediacy of the disclosure.