Cyr William B. 4

What Happened
William B. Cyr, CEO of Freshpet (FRPT), exercised vested stock options to acquire 84,000 shares at a strike price of $10.23 per share (total cost ≈ $859,320) on May 22, 2026. On the same day he sold 46,814 shares in open-market transactions, generating total proceeds of about $2,389,430. The exercised options were issued under Freshpet’s 2014 Omnibus Incentive Plan and were fully vested as of December 31, 2020.

Key Details

• Transaction date: May 22, 2026 (reported on Form 4 filed May 27, 2026).
• Option exercise: 84,000 shares acquired at $10.23 each (M code).
• Open-market sales: 46,814 shares sold in multiple trades for total proceeds ≈ $2,389,430 (weighted-average prices; per-footnotes, sales ranged roughly $49.98–$51.59 across the transactions).
• Net effect of these transactions: +37,186 shares retained (84,000 acquired − 46,814 sold).
• Footnotes: sales were executed under a Rule 10b5-1 trading plan adopted Nov 5, 2025 (F1); option grants were under the 2014 Omnibus Incentive Plan and fully vested as of 12/31/2020 (F5); weighted-average sale prices and price ranges are disclosed (F2–F4).
• Filing timing: Form 4 was filed May 27 for May 22 trades (5 days later). Form 4s are generally due within two business days, so this filing appears delayed based on the dates shown.

Context
This was an exercise of vested options with partial immediate disposition of the resulting shares. The presence of a pre-established 10b5-1 plan suggests the sales were executed according to a trading plan rather than an ad-hoc sale; footnote F4 also offers to provide a breakdown of shares sold at each price on request. Purchases (exercises) increase the insider’s holdings; sales under a 10b5-1 plan are often routine and are not, by themselves, definitive signals of the insider’s view.