Lee Kang Jyh 4

What Happened
Lee Kang Jyh, a director of Photronics, exercised stock options and sold shares on April 6, 2026. He exercised options to acquire 5,000 shares at $8.60 per share (total cost $43,000) and sold 5,000 shares in an open-market transaction at $40.53 per share (gross proceeds $202,650). The filing also records a derivative disposition of 5,000 shares at $0.00 associated with the exercise.

Key Details

• Transaction date: 2026-04-06 (filed with the SEC on 2026-04-08). Filing appears timely.
• Exercise (code M): 5,000 shares acquired at $8.60 each — $43,000 total.
• Sale (code S): 5,000 shares sold at $40.53 each — $202,650 total.
• Derivative disposition (code M): 5,000 shares reported disposed at $0.00 (see footnote).
• Shares owned after the transactions: Not reported on the Form 4.
• Footnote: The options reported vest in four equal annual installments (25% each) beginning Jan 2, 2018.

Context
Because the exercised shares were sold the same day, this sequence functions like a cashless exercise/sell-to-cover: the insider exercised options and did not retain those shares. For retail investors, exercises followed by immediate sales typically reflect realization of gains or coverage of exercise costs/taxes rather than a new long-term buy signal. The report is factual and does not indicate the insider’s longer-term view.