Haas Margaret E. 4

What Happened
Margaret E. Haas (10% owner; Board Chair) converted 2,279 shares of Class B common stock into Class A common stock and sold those 2,279 Class A shares in the open market on May 27, 2026. The shares were sold at a weighted-average price of $24.01 per share (prices ranged $24.0050–$24.0150), generating gross proceeds of about $54,716. The conversion had no cash cost (reported at $0.00) because each Class B share is convertible into one Class A share at the holder’s option with no expiration.

Key Details

• Transaction date: May 27, 2026. Form 4 filed May 28, 2026 (timely).
• Sale: 2,279 shares sold; weighted-average price $24.01; price range $24.0050–$24.0150; total ≈ $54,716. (Ms. Haas can provide a breakdown of shares sold at each price on request.)
• Conversion: 2,279 Class B → Class A reported as conversion (no cash paid).
• Plan/legal: Shares sold pursuant to a Rule 10b5-1 trading plan adopted April 13, 2026.
• Ownership/beneficial interest: Some shares are held by the Margaret E. Haas Fund, trusts, an LLC, and the Lynx Foundation for beneficiaries; Ms. Haas disclaims beneficial ownership of those holdings per the filing.
• Shares owned after transaction: not specified in this report.

Context
This was a conversion of voting/privileged Class B shares into tradable Class A shares followed immediately by an open-market sale under a pre-established 10b5-1 plan. For a 10% owner and board chair, these moves often reflect management of long-held, trust- or foundation-held positions rather than an individual executive’s market timing; the filing itself does not state motivation.