Hvid Kenneth 4/A

What Happened

• Kenneth Hvid, President & CEO and a director of Teekay Corp. (TK), exercised options and sold shares on June 11, 2026. The Form 4 (amended) shows option exercises at $10.18 and open-market sales at weighted-average prices of $12.16 and $12.06.
• Transactions reported: exercised/conversion entries for 165,151 shares at $10.18 (cost ~$1.68M); open-market sales of 165,151 shares for ~$2.01M and 150,184 shares for $1.81M; plus a derivative-disposal line for 165,151 shares at $10.18 ($1.68M). In total 480,486 shares were disposed for combined proceeds of about $5.50M.

Key Details

• Transaction date: 2026-06-11; Form 4 filed (amended) 2026-06-12.
• Prices reported: exercise price $10.18; weighted-average sale prices $12.16 and $12.06.
• Proceeds: roughly $5,500,630 total from the reported disposals.
• Footnotes: sale prices executed in multiple trades — one group ranged $12.04–$12.27 (F1), another $12.00–$12.15 (F2); reported prices are weighted averages.
• Shares owned after the transactions: not specified in the data you provided — check the full amended Form 4 for post-transaction holdings.
• Timeliness: filing was submitted the day after the transactions (not indicated as late); this is an amended filing.

Context

• Derivative/option note: the filing shows option exercises (transaction code M). Because exercised shares were sold the same day (open-market sales and a derivative-disposal entry), this resembles a cashless exercise/sale pattern — the filing records both the exercise and the subsequent disposals.
• Interpretation: sales by executives are often routine (liquidity/tax events); factual filing shows exercise plus immediate sales but does not indicate the insider’s motive.