LI WILLIAM 4

What Happened
Director William Li had two prior RSU grants convert into common stock on March 13, 2026. Specifically, 74,700 RSUs from a Nov 11, 2025 grant and 94,050 RSUs from a Dec 23, 2025 grant were settled 1-for-1 into 74,700 and 94,050 shares, respectively — a total of 168,750 shares. The transactions are reported as derivative conversions (code M) and show $0 consideration (no cash exchanged).

Key Details

• Transaction date: March 13, 2026 (filed on March 17, 2026 — filing was timely).
• Grants/settlements: 74,700 RSUs (Nov 11, 2025 grant) and 94,050 RSUs (Dec 23, 2025 grant) settled 1:1 into common stock.
• Price/consideration: $0 reported (RSUs settled for shares with no cash paid).
• Total shares received: 168,750 common shares.
• Vesting: Both RSU grants vested at issuance (per footnotes).
• Shares owned after transaction: not specified in the provided filing.
• Transaction code: M (exercise/conversion of derivative — here, RSU settlement into shares).

Context
This was an award settlement (conversion of previously issued RSUs), not an open-market purchase or sale. Because the RSUs vested at grant and were simply converted to shares, this is typically routine compensation-related issuance rather than a market trading signal. No immediate sale of the issued shares is reported in this filing.