RALLIS CHRIS A 4

What Happened
Director Chris A. Rallis exercised stock options on May 11, 2026, resulting in the acquisition of 14,344 shares at an exercise price of $2.44 per share (total cost $34,999). On the same day he sold 8,346 shares in an open-market/private sale at $7.04 per share, receiving $58,756; the sale was executed to satisfy tax withholding related to the option exercise.

Key Details

• Transaction date: 2026-05-11; Form 4 filed 2026-05-12 (timely filing).
• Option exercise (code M): 14,344 shares @ $2.44 = $34,999 (acquired).
• Sale (code S): 8,346 shares @ $7.04 = $58,756 (disposed).
• Derivative reporting: 14,344 shares shown as exercised/converted (footnote indicates conversion of options).
• Footnotes: F1/F3 — exercise pursuant to a 10b5‑1 plan adopted May 19, 2025; F2 — shares sold to satisfy tax obligations.
• Shares owned after the transactions: not specified in the information provided in this summary (see filing for beneficial ownership amounts).

Context
This was an option exercise combined with a routine tax‑related sale (partial cashless-like outcome): Rallis exercised options under a pre-existing 10b5‑1 plan and sold a portion of the resulting shares to cover taxes. Such transactions are common for insiders exercising options and do not, by themselves, indicate a change in company outlook.