Cogan Jeremy 4

What Happened

• Jeremy Cogan, Chief Financial Officer of Movano Inc. (MOVE), exercised stock options for 64,834 shares (exercise price reported $1.25; total cost ~$81,043) on Jan 26, 2026. Following the exercise, he sold 28,736 shares in a series of open-market transactions on Jan 27, 2026, generating aggregate proceeds of about $597,259.
• Some shares were surrendered/treated as sold to cover withholding taxes and exercise costs in connection with the exercise (see footnote F1). One exercise-related entry was reported at $0.00 (derivative disposition), consistent with surrender/netting to cover tax/exercise obligations.

Key Details

• Transaction dates: Exercise on 2026-01-26; open-market sales on 2026-01-27; Form 4 filed 2026-01-28 (timely).
• Exercise: 64,834 shares at $1.25 per share — $81,043 aggregate exercise cost.
• Open-market sales (total 28,736 shares) — weighted-average prices reported across multiple lots:
  • 3,288 shares @ weighted avg $19.11 (range $18.40–$19.35) — proceeds $62,834 (F2)
  • 4,622 shares @ weighted avg $20.07 (range $19.50–$20.50) — proceeds $92,764 (F3)
  • 13,179 shares @ weighted avg $20.63 (range $19.50–$20.50?) — proceeds $271,883 (F3 note applies)
  • 5,548 shares @ weighted avg $21.76 (range $20.51–$21.50) — proceeds $120,724 (F4)
  • 2,099 shares @ weighted avg $23.37 (range $23.335–$23.38) — proceeds $49,054 (F6)
  • Total proceeds from sales: ~$597,259.
• Shares owned after the transactions: not specified in the excerpt provided.
• Notable footnotes: F1 (shares sold to cover withholding taxes and exercise price), F2–F6 (weighted-average prices with price ranges; seller will provide breakdown on request), F7 (the option award exercised was granted contingent on shareholder approval of a plan amendment; became exercisable Dec 16, 2025).

Context

• This is a common pattern: an insider exercises options granted previously and immediately sells a portion of shares. The filings indicate both a cash payment for exercise and share surrender to cover taxes/exercise costs (i.e., partial cashless/Net-share settlement elements).
• Sales by executives can be routine (tax or diversification) rather than a directional signal; purchases are generally more informative about bullish insider conviction.
• Filing appears timely (transactions in late Jan 2026; Form 4 filed Jan 28, 2026).