Teekay Corp (TK) Director Heidi Locke Exercises Options and Sells Shares

What Happened Heidi Locke, a director of TEEKAY CORP LTD (TK), exercised 400 options on 2026-09-17 at an exercise price of $5.81 per share (total cost $2,324) and sold 400 shares the same day in an open-market transaction at $14.93 per share (total proceeds $5,972). The transaction codes reported were M (option exercise) and S (sale). Net proceeds from the sequence were approximately $3,648.

Key Details

• Transaction date: 2026-09-17.
• Option exercise: 400 shares at $5.81 each — total $2,324 (code M).
• Sale: 400 shares at $14.93 each — total $5,972 (code S). Footnote: sale executed in multiple trades, all at $14.93; reported price is the weighted average (F1).
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing date/accession: Form 4 filed 2026-09-18 (appears timely, one day after the transactions).

Context This is effectively a cashless exercise: the director exercised options and sold the same number of shares the same day, a common way to cover exercise costs and taxes and to realize gains. Such routine insider sales do not by themselves indicate company-wide issues or future performance; they simply show the director realized a gain on previously held options.