ESPEY (ESP) Director Paul J. Corr Exercises Options, Sells Shares

What Happened Paul J. Corr, a director of Espey Mfg & Electronics Corp. (ESP), exercised 2,300 derivative securities at $13.98 each (cost $32,154) on 2026-09-25. On the same day he executed multiple open-market sales totaling 2,089 shares across many small trades at prices roughly between $64.26 and $66.79, generating about $137,179 in proceeds. The Form 4 also shows a derivative disposition entry for 2,300 shares at $13.98 ($32,154), which indicates the exercised shares were reported as disposed as part of the transaction (consistent with a cashless exercise or immediate sale of some or all exercised shares).

These transactions are primarily sales (monetization of holdings/option exercise), which are common for executives and directors to cover exercise costs, taxes, or diversify—rather than a clear bullish signal.

Key Details

• Transaction date: 2026-09-25 (Form 4 filed 2026-09-28).
• Exercise: 2,300 shares at $13.98 = $32,154.
• Open-market sales: 2,089 shares in many lots at ~$64.26–$66.79 per share; proceeds ≈ $137,179.
• Reported derivative disposition: 2,300 shares at $13.98 = $32,154 (listed as "Derivative" disposal in the filing).
• Combined reported proceeds (exercise disposition + open-market sales) ≈ $169,333.
• Shares owned after transaction: not specified in the excerpt provided.
• Footnotes/plan details: filing shows both acquisition (exercise) and disposition of the exercised shares—consistent with a cashless exercise/ immediate sale; no 10b5‑1 plan or tax-withholding note was included in the provided details.

Context

• For derivative transactions: "Exercised options" means the insider converted options to common shares at the strike price; when the filing shows both acquisition and disposition on the same date, that often reflects an immediate sale to cover the exercise cost or taxes (cashless exercise).
• Sales by insiders are common and do not necessarily indicate negative company outlook; purchases are generally viewed as a stronger bullish signal.
• The filing timing (trade on Sep 25, filed Sep 28) is noted here; timeliness or any late‑filing flag was not included in the provided excerpt.