Teekay Corp (TK) Director Krediet Rudolph Exercises Options, Sells Shares

What Happened Krediet Rudolph, a director of Teekay Corp (TK), exercised 41,457 derivative securities on Aug 3, 2026 at an exercise price of $3.98 per share (cost $164,999) and immediately sold the 41,457 shares in the open market for total proceeds of $474,882. The transactions together indicate an option exercise followed by a sale of the resulting shares (a cashless or simultaneous disposition).

Key Details

• Transaction date: 2026-08-03 (filed same day).
• Exercise (code M): 41,457 shares acquired at $3.98 each; total exercise cost $164,999.
• Sale (code S): 41,457 shares disposed in multiple trades; weighted average sale price $11.45; total proceeds $474,882.
• Net proceeds from the sequence (sale minus exercise cost): $309,883.
• Footnote: sale executed in multiple trades at prices ranging $11.45–$11.50; reported sale price is the weighted average.
• Shares owned after the transaction: not disclosed in this filing.
• Filing timeliness: filing date equals transaction date (appears timely).

Context This filing shows an option exercise immediately followed by sale of the resulting shares, which is commonly used to cover exercise costs and taxes. The sale itself is a disposition (not a new purchase), so it should not be interpreted as a fresh endorsement of the stock—simply a monetization of previously held derivative rights.