CORR PAUL J 4

What Happened
Paul J. Corr, a director of Espey Mfg & Electronics Corp (ESP), exercised 2,550 stock options at $18.05 per share (total cost $46,028) on June 23, 2026. The Form 4 also reports a series of same-day open-market sales totaling 2,550 shares at prices between $65.08 and $66.40 (total proceeds ≈ $168,025) and an additional reported disposition of 2,550 shares tied to the option transaction (derivative disposition) for $46,028. Combined reported proceeds from the sales/dispositions are roughly $214,053. These entries indicate an option exercise with immediate sale(s) of shares (a cashless or net settlement-style transaction), rather than a long-term purchase.

Key Details

• Transaction date: June 23, 2026. Form 4 filed June 25, 2026 (appears timely).
• Option exercise: 2,550 shares at $18.05/share = $46,028 (code M).
• Open-market sales: multiple trades totaling 2,550 shares at $65.08–$66.40; proceeds ≈ $168,025.
• Derivative disposition: 2,550 shares reported disposed in connection with the exercise (value $46,028).
• Combined reported proceeds from all disposals ≈ $214,053.
• Shares owned after the transactions: not stated in the provided excerpt.
• Notable: multiple entries show exercise and same-day sales; this commonly reflects a cashless exercise or immediate sale to cover costs/taxes rather than an outright buy-and-hold.

Context

• For retail investors: purchases (buys) are generally a stronger bullish signal than routine option exercises followed by sales. This filing documents an exercise and substantial same-day selling activity, which is typically transactional (liquidity/tax-driven) rather than a long-term stake increase.
• The filing’s use of both an “acquired” (M) and a corresponding derivative “disposed” line is consistent with an exercise where shares were immediately surrendered or sold; the separate open-market sale lines itemize additional lots sold that day.
• The report contains transaction-level detail (prices and amounts); it does not, in the excerpt provided, list whether the sales were part of a 10b5-1 plan or note other special instructions.