WELCHER BLAKE 4

What Happened
Blake Welcher, a director of Netlist, Inc. (NLST), sold 37,500 shares on April 22, 2026, at $2.00 per share for proceeds of $75,000. The Form 4 lists the transaction as a sale (code S) effected pursuant to a Rule 10b5-1 trading plan.

Key Details

• Transaction date: 2026-04-22; sale price: $2.00; total proceeds: $75,000.
• Transaction type: Sale (Form 4 code S), described as "open market or private sale" in the filing.
• Plan disclosure: Sale was executed under a Rule 10b5-1 trading plan adopted September 12, 2025 (Footnote F1).
• Reporting of unvested shares: The reported amount includes shares subject to unvested restricted stock units (RSUs) (Footnote F2).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report filed April 24, 2026 for a 4/22/2026 transaction—within the usual Form 4 reporting window (not marked late).

Context
10b5-1 plans are pre-arranged trading programs that can result in routine, scheduled sales; their existence can mean the trade was pre-planned rather than a real-time signal of the insider’s view. Inclusion of unvested RSUs in the reported amount can make the change in immediate economic ownership different from the raw share count reported. This summary is factual and does not infer motivation.