Ganot Ilan 4

What Happened

• Director Ilan Ganot had restricted stock units (RSUs) convert into common stock on Jan 27, 2026 (conversion reported as derivative exercises). The filings show conversions of 389 and 3,884 shares (listed as M-code conversions).
• On Jan 28, 2026 Ganot sold 191 shares in an open-market sale at $6.59 per share for reported proceeds of $1,259. The sale was a sell-to-cover to satisfy tax withholding obligations following vesting (not a discretionary trade).

Key Details

• Transaction dates and prices:
  • Jan 27, 2026 — conversion/exercise of derivative (RSU conversion) for 389 and 3,884 shares (reported with $0.00 exercise price / N/A value for conversion).
  • Jan 28, 2026 — sale of 191 shares at $6.59 each, proceeds $1,259 (reported as open-market sale).
• Shares owned after transaction: reporting shows 95,255 shares held individually, 4,042 shares held jointly with Annie Ganot, and 19,394 shares held in the Ilan Ganot 2017 Irrevocable Trust — totaling 118,691 shares.
• Notable footnotes:
  • F1: RSUs convert one-for-one into common stock.
  • F2: The Jan 28 sale was an automatic sell-to-cover to cover withholding taxes after vesting (adopted via a durable automatic sales instruction on Sept 25, 2024); it was not a discretionary sale by the insider.
  • F5/F6: The RSUs relate to prior grants that vest in four annual installments from the Jan 27, 2022 grant date.
• Filing timeliness: The Form 4 was filed Jan 30, 2026 for Jan 27/28 transactions — submitted after the typical two-business-day reporting window (the filing appears to be late by one business day).

Context

• These filings reflect RSU vesting and a routine sell-to-cover tax sale, not an independent open-market investment decision. Conversions of RSUs increase share count; the small sale was solely to satisfy withholding. Such routine post-vesting sell-to-cover transactions are common and do not necessarily signal insider sentiment.