Rosenfeld Michael E 4

What Happened
Director Michael E. Rosenfeld exercised stock option(s) on 2026-02-09, acquiring 5,000 shares at $6.01 per share for a total of $30,050. The same filing shows a simultaneous disposition of 5,000 shares at $0.00, indicating those shares were surrendered or withheld in connection with the exercise (commonly to cover the exercise price or tax withholding).

Key Details

• Transaction date: 2026-02-09 (reported on Form 4 filed 2026-03-19) — the Form 4 was filed late relative to the transaction date.
• Transaction codes: M = exercise/conversion of a derivative (stock option).
• Acquired: 5,000 shares @ $6.01 = $30,050.
• Disposed: 5,000 shares @ $0.00 (shares surrendered/withheld).
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context
This was an option exercise (derivative conversion). The paired acquire/dispose entries are typical of a cashless exercise or share-withholding to cover costs/taxes and often result in no net increase in shares held by the insider. Such transactions are administrative and do not necessarily indicate a buy or sell signal on their own. The late filing delays public transparency and is noted for investors.