Thorndike William N Jr 4

What Happened

• William N. Thorndike Jr., a director of CNX Resources Corp (CNX), exercised 83,097 stock options on May 4, 2026, at an exercise price of $13.19, paying $1,095,692. The filing also reports the conversion/disposition of the derivative option instrument (reported at $0.00).
• On the same day he sold 28,800 CNX shares in an open-market transaction at a weighted-average price of $38.25, generating $1,101,545 in proceeds.
• This transaction includes a purchase (exercise of options, a cash outlay) and a contemporaneous sale of some shares; purchases are typically more informative than routine sales, but filings do not state motivation.

Key Details

• Transaction date: May 4, 2026; Form 4 filed May 6, 2026 (timely).
• Exercise: 83,097 shares acquired via option exercise at $13.19 per share; total consideration reported $1,095,692.
• Sale: 28,800 shares sold in open market at weighted-average $38.25 (range $37.99–$38.45); total proceeds $1,101,545. (Footnote offers breakdown on per-price quantities upon request.)
• Derivative line: 83,097-option instrument shown as disposed at $0.00 — reflects conversion/exercise of the option, not a cash sale of those option instruments.
• Net share change from these transactions: +54,297 shares (83,097 acquired less 28,800 sold).
• Footnotes of note:
  • F1: Of directly owned shares, 2,100 are deferred stock units.
  • F3/F4: The option reflects an exempt anti-dilution adjustment from the 2017 spin-off and vested May 9, 2017.
• Filing timeliness: Report appears timely (within required Form 4 window).

Context

• For retail investors: exercising options increases the insider’s shareholding (here by a net ~54k shares) and is a direct purchase of company stock at the exercise price. The simultaneous partial sale reduced but did not eliminate the new holding.
• The filing does not state an employment or 10% holder change; this is a director’s routine exercise and partial sale, not a gift or 10b5-1 plan disclosure.