Locke Simon Heidi 4

What Happened

• Heidi Locke, a director of Teekay Corp Ltd (TK), exercised 18,119 stock options at an exercise price of $3.98 per share (cost $72,114) and immediately sold the 18,119 shares in the open market for a weighted average price of $12.37 per share (total proceeds $224,215). The gross difference between sale proceeds and exercise cost is about $152,101 before fees and taxes.
• The filing shows both the option exercise (derivative conversion) and the open-market sale of the resulting shares on 2026-06-22.

Key Details

• Transaction date: 2026-06-22.
• Exercise: 18,119 shares at $3.98 each — $72,114 total (reported as derivative exercise).
• Sale: 18,119 shares at weighted avg $12.37 each — $224,215 total. Footnote: sale executed in multiple trades at prices from $12.33 to $12.41.
• Net proceeds (sale minus exercise cost): approx. $152,101 (pre-tax/fees).
• Shares owned after the transactions: not specified in the provided excerpt — see the full Form 4 for post-transaction holdings.
• Filing timeliness: Reported and filed on 2026-06-22 (appears timely).

Context

• This was an option exercise followed by an immediate sale of the exercised shares (commonly a cashless or near-immediate sell-to-cover pattern). Such transactions often reflect routine option exercises by insiders rather than a directional bet on the stock; no motive is stated in the filing.
• All figures are from the Form 4; investors should consult the complete filing for any additional clarifications or related footnotes.