CORR PAUL J 4

What Happened

• Paul J. Corr, a director of Espey Mfg & Electronics Corp (ESP), exercised stock options on Feb 18, 2026 and sold shares the same day. He exercised 2,400 options at $21.75 and 2,242 options at $27.21 (4,642 shares total), paying $113,205 in exercise costs. The filing shows those exercised shares were disposed (sold) as derivative transactions.
• In addition, Corr executed 22 open‑market sales totaling 2,342 shares for proceeds of $130,562. Combined proceeds reported from all disposals on Feb 18 equal $243,767.

Key Details

• Transaction date: 2026-02-18; Form 4 filed: 2026-02-20 (filed within the standard two‑business‑day window, i.e., timely).
• Option exercises (code M): 2,400 shares @ $21.75 ($52,200) and 2,242 shares @ $27.21 ($61,005). Those same lots are recorded as disposed (sold) in the filing.
• Open‑market sales (code S): 22 trades totaling 2,342 shares for $130,562 (prices ranged ~ $57.31–$59.43).
• Total shares exercised: 4,642; total shares sold (all dispositions reported): 6,984; total gross proceeds reported: $243,767.
• Shares owned after the transactions: not provided in the information supplied. No footnotes (e.g., 10b5‑1 plan or tax withholding) were included in the supplied data.

Context

• Code M indicates option exercise/ conversion. Because the exercised shares were also listed as disposed the same day, this looks like a cashless exercise or immediate sale-to-cover of the exercised shares (i.e., option exercise followed by sale). That is a common way insiders realize value from options and does not, by itself, signal a change in personal view of the company.
• Open‑market sales are routine insider liquidity events; purchases are generally considered more indicative of bullish insider conviction. This filing is factual reporting of option exercises and sales—no inference about motivation is made.