Teekay (TK) Director Heidi Locke Exercises Options, Sells Shares

What Happened

• Locke Simon Heidi (Director) exercised options (code M) to acquire 11,585 shares at $5.81 per share (total cost $67,309) on 2026-09-10, and on the same day disposed of those 11,585 shares in an open-market sale (code S) at a weighted average price of $14.08 for proceeds of $163,119. The exercise and sale occurred on the same date.

Key Details

• Transaction date: 2026-09-10; Form 4 filed 2026-09-11 (timely filing).
• Exercise: 11,585 shares @ $5.81 = $67,309 (code M, acquired).
• Sale: 11,585 shares @ weighted avg $14.08 = $163,119 (code S, disposed).
• Footnote: Sale executed in multiple trades at prices from $14.080 to $14.085; reported price is the weighted average (F1).
• Shares owned after the transaction: not specified in the provided excerpt — check the full Form 4 for post-transaction holdings.

Context

• Because the same number of shares were exercised and sold on the same day, this looks like an exercise-and-sell (cashless or immediate disposition) transaction: the director exercised options and then sold those shares rather than retaining them. Transaction codes: M = option exercise, S = sale. This is factual reporting of the trades and not a statement about the director’s long-term view.