Lee Kang Jyh 4

What Happened

• Lee Kang Jyh, a director of Photronics, exercised stock options and sold shares. On April 8, 2026 he exercised/options-converted 5,000 shares at an exercise price of $8.60 (cost $43,000) and immediately sold those 5,000 shares in the open market at $43.27 each, generating proceeds of $216,350.
• The filing also reports a related derivative conversion on April 6, 2026 for 5,000 shares with no cash amount shown (reported as a derivative disposition).

Key Details

• Dates and prices:
  • 2026-04-08: Exercise (Code M) — 5,000 shares @ $8.60 (acquired) — $43,000 total exercise cost.
  • 2026-04-08: Open-market sale (Code S) — 5,000 shares @ $43.27 — $216,350 proceeds.
  • 2026-04-06: Derivative conversion (Code M) — 5,000 shares reported disposed @ $0 (no cash shown).
• Shares owned after the transactions: Not specified in the provided filing details.
• Footnote: F1 notes the reported options vested in four equal annual installments, with 25% vesting each year beginning Jan 2, 2018.
• Filing timeliness: Transaction reported on Form 4 filed April 10, 2026 for an April 8 transaction — appears timely (within the typical two-business-day requirement).

Context

• This appears to be an option exercise followed by an immediate open-market sale (a common way insiders realize value from vested options). The combination of an exercise (M) and a same-day sale often functions like a cashless exercise — the insider acquires shares by exercising options and sells them in the market.
• These transactions are factual disclosures of insider trading activity and do not by themselves indicate the insider’s broader view of the company’s prospects.