WOOL MICHAEL W 4

What Happened

• Michael W. Wool, a director of Espey Mfg & Electronics Corp. (ESP), executed multiple transactions. He sold 1,000 shares in an open‑market sale on Feb 19, 2026 for $57.90 each (proceeds $57,900). On Feb 23, 2026 he exercised/options-converted 1,842 shares at $27.21 ($50,121 reported as acquired) and simultaneously disposed of those 1,842 shares for $27.21 each (proceeds $50,121). Combined proceeds from the reported sales total $108,021.
• This filing reports primarily sales; the option exercise appears to have been followed by an immediate sale of the exercised shares (see Context).

Key Details

• Transactions & prices:
  • Feb 19, 2026 — Open‑market sale (S): 1,000 shares @ $57.90 = $57,900.
  • Feb 23, 2026 — Option exercise (M, acquisition): 1,842 shares @ $27.21 = $50,121.
  • Feb 23, 2026 — Disposition of same 1,842 shares (M, derivative disposition): 1,842 shares @ $27.21 = $50,121.
• Total reported cash proceeds ≈ $108,021.
• Shares owned after these transactions: Not specified in the information provided in this summary (check the full Form 4 for post‑transaction holdings).
• Filing timing: Form 4 filed 2026-02-23; the Feb 19 open‑market sale was reported with this filing — that sale was reported several days after the trade date and may be late (Form 4s are generally due within two business days of the transaction).
• Notable codes: M = exercise/conversion of derivative (options); S = sale.

Context

• The filing shows both an acquisition by exercise (code M) and an immediate disposition of the same 1,842 shares, consistent with a cashless exercise or same‑day sale to cover strike/taxes — the Form 4 records both steps separately. Such transactions are often administrative and do not by themselves indicate a change in the insider’s view of the company.
• For retail investors: purchases can be more informative about insider confidence than routine exercises followed by sales. Review the full Form 4 for post‑transaction ownership and any footnotes (e.g., tax withholding or 10b5‑1 plans) for additional context.