Farrell Michael J. 4

What Happened
Michael J. Farrell, ResMed’s Chairman & CEO, exercised 4,991 stock options on March 9, 2026 at an exercise price of $146.34 per share (total cash cost ~$730,383) and immediately sold those 4,991 shares in the open market at a weighted average price of $251.03 per share, generating gross sale proceeds of ~$1,252,902. The option instrument was removed/converted in the process (reported as a derivative disposition at $0).

Key Details

• Transaction date: 2026-03-09; Form 4 filed 2026-03-11 (timely filing).
• Exercise (M): 4,991 shares @ $146.34 = $730,383 (cash paid on exercise).
• Sale (S): 4,991 shares @ weighted avg $251.03 = $1,252,902; executed in multiple trades at $246.83–$253.09.
• Net proceeds before taxes/fees: ~ $522,519 (sale proceeds minus exercise cost).
• Shares owned after transaction: not stated in this filing.
• Footnotes: transaction was executed under a Rule 10b5-1 plan adopted Oct 31, 2024; options first became exercisable Mar 9, 2026 and vest 1/3 per year.

Context
This was effectively a cashless exercise (exercise followed by immediate sale) executed under a pre-established 10b5-1 plan — a common way executives monetize option value while following an automated trading plan. Such transactions are routine and do not, by themselves, indicate a change in the insider’s long‑term view of the company.