ENGINEER ADIL 4

What Happened

• Adil (Chief Operating Officer) made two related insider transactions: he acquired 2,454 shares through the company's Employee Stock Purchase Plan (ESPP) on 2026-04-01 at $6.67 per share (total ~$16,374). On 2026-04-02, 458 shares were withheld/disposed at $44.32 per share (total ~$20,299) to satisfy tax withholding obligations tied to restricted stock unit vesting.
• The ESPP purchase is a buy (a direct purchase of company stock). The withholding of 458 shares is a tax-related disposition and the filing notes this withholding does not represent a sale by the reporting person.

Key Details

• Transaction dates and prices:
  • 2026-04-01: +2,454 shares @ $6.67 (ESPP purchase) — $16,374
  • 2026-04-02: -458 shares @ $44.32 (tax withholding on RSUs) — $20,299
• Shares owned after the reported transactions: not specified in the provided filing excerpt (footnote F3 indicates reported amounts may include shares subject to unvested RSUs).
• Notable footnotes:
  • F1: ESPP purchase was through a Section 423 "tax-conditioned" plan and is exempt from six-month short-swing liability under Section 16.
  • F2: Withheld shares were to satisfy tax obligations upon RSU vesting and do not represent an open-market sale by the insider.
  • F3: Reported amounts may include shares subject to unvested restricted stock units.
• Filing timeliness: filed on 2026-04-02 for transactions on 2026-04-01 and 2026-04-02 (no late filing indicated).

Context

• Purchases via an ESPP are routine ways employees acquire stock and can be viewed as a direct purchase rather than an endorsement of short-term price moves. The withheld shares are a common administrative step to cover taxes when RSUs vest and should not be read as an active sale decision.