Lee Kang Jyh 4

What Happened

• Lee Kang Jyh, a director of Photronics, exercised stock-derived securities and sold the resulting shares. On March 26, 2026 he exercised options to acquire 5,000 shares at $10.75 per share (cost $53,750) and sold 5,000 shares in an open-market transaction at $40.80 per share for total proceeds of $204,000. The filing also reports a separate 5,000-share disposition of a derivative security reported with $0.00 consideration.

Key Details

• Transaction date: March 26, 2026
• Exercise: 5,000 shares at $10.75 → total cost $53,750 (code M)
• Sale: 5,000 shares at $40.80 → total proceeds $204,000 (code S)
• Additional reported derivative disposition: 5,000 shares at $0.00 (code M) — filing does not provide further detail on that leg
• Shares owned after the transactions: not specified in the provided filing excerpt
• Footnote: the reported options vested in four equal annual installments (25% each) beginning March 7, 2017
• Filing date: March 30, 2026 reporting March 26 transactions — appears timely (Form 4 is due within two business days)

Context

• This was effectively an exercise-and-sell (cashless) event: options were exercised and at least some of the resulting shares were immediately sold for cash. Exercise cost ($53,750) vs. sale proceeds ($204,000) show gross proceeds before taxes and fees; the filing does not state motivations or further disposition of remaining holdings.
• Transaction codes: M = exercise/conversion of a derivative; S = sale. The $0.00 line indicates a derivative conversion/disposition with no cash consideration reported; the filing does not explain the reason (e.g., tax withholding or conversion).