Ferroglobe (GSM) Director Silvia Villar-Mir Exercises Options, Sells Shares

What Happened

• Director Silvia Villar-Mir exercised 28,117 derivative securities (options) on September 22, 2026. The exercise was reported at an exercise price of $0.00. To cover tax withholding, 6,889 shares were surrendered/withheld and valued at $4.31 each, totaling $29,692. The net increase in common shares held by the director from this transaction was 21,228 shares (28,117 exercised − 6,889 withheld).

Key Details

• Transaction date: 2026-09-22; filing date: 2026-09-24 (filed within the normal Form 4 reporting window).
• Items reported:
  • M (exercise/conversion): 28,117 shares acquired at $0.00.
  • F (payment of exercise price or tax liability): 6,889 shares disposed/withheld at $4.31, proceeds/value $29,692.
  • M (derivative disposal): 28,117 derivative units disposed (the option converted into shares).
• Shares owned after the transaction: not specified in the provided filing summary.
• Footnote: The filing corrects an earlier arithmetic error (Form 4 filed Mar 25, 2026) that understated holdings by 25,974 shares.

Context

• This was an option exercise with tax-withholding via share surrender (common "cashless" or net share settlement behavior). The M code indicates exercise/conversion of a derivative; the F code indicates shares were used to satisfy tax withholding. These actions are routine internal adjustments and do not, by themselves, indicate the director’s market view.