Lee Kang Jyh 4

What Happened

• Lee Kang Jyh, a director of Photronics Inc (PLAB), exercised stock options and sold shares on April 1, 2026. He exercised options to acquire 5,000 shares at $10.75 per share (total cost $53,750) and sold 5,000 shares in an open market transaction at $42.00 per share (total proceeds $210,000). The same filing also reports a 5,000-share derivative exercise/conversion listed with $0.00 consideration; the filing does not explain that line.

Key Details

• Transaction date: 2026-04-01.
• Exercise: 5,000 shares acquired @ $10.75 = $53,750 (transaction code M).
• Sale: 5,000 shares disposed in open market @ $42.00 = $210,000 (transaction code S).
• Additional derivative line: 5,000 shares reported as an exercise/conversion with $0.00 consideration (transaction code M); no explanation provided in the filing.
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Footnote: The reported options vest in four equal annual installments, with 25% vesting on each of the first four anniversaries of the grant date (March 7, 2017).
• Filing timeliness: Form 4 was filed 2026-04-03 for a reportable date of 2026-04-01 (appears timely).

Context

• This was an option exercise followed by an immediate open-market sale of the same number of shares — a common pattern when insiders exercise options and sell shares (often to cover costs or diversify). The filing shows both the exercise (acquisition) and the subsequent sale (disposition); it does not state motivations or additional arrangements (e.g., sell-to-cover).