TIMMINS MEGAN C. 4/A

What Happened Megan C. Timmins (insider) received a grant of 97,500 performance-based restricted stock units (PSUs) on 2025-05-20. The grant is reported as a derivative award with an acquisition price of $0.00 (initial reported value $0). This is a grant/award rather than an open-market purchase or sale — the units convert to shares only if performance conditions are satisfied.

Key Details

• Transaction date: 2025-05-20 (reported via amended Form 4 filed 2026-04-17). The filing amends an earlier Form 4 because the award was inadvertently omitted originally (i.e., late/amended filing).
• Award: 97,500 PSUs; reported as "Grant, award or other acquisition (A)" and classified as a derivative security.
• Reported price/value: $0.00 at grant (no immediate cash exchanged; contingent award).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnote (important): PSUs vest only if a stock-price performance hurdle is met during the three-year performance period; the base price is $2.14 and the hurdle requires the 60-day average closing price to reach two times the base ($4.28) during the period. PSUs may vest on/after the first anniversary only if hurdle met; any unvested PSUs remaining after the third anniversary are cancelled.

Context PSUs are contingent awards: they provide potential future shares if specified performance targets are met, so they do not represent immediate share ownership or a cash investment by the insider. Amended/late filings are administrative corrections and do not by themselves indicate trading intent.