Woo Raymond 4

What Happened

• Raymond Woo, Chief Technology Officer of Ceribell, exercised options to acquire a total of 11,112 shares on Feb 2, 2026 and sold those shares the same day in open-market transactions. Exercise cash paid (sum of reported acquisition prices) was $48,606; gross sale proceeds were about $228,375, implying net proceeds of roughly $179,769 before taxes/fees.
• The exercises and sales were reported as multiple transactions: 1,472 shares (exercise cost $2.24/share; sale price weighted ~$20.57), 3,025 shares (exercise $4.70; sale ~$20.57), and 6,615 shares (exercise $4.70; sale ~$20.54). The filing also lists derivative dispositions at $0 that reflect conversion/cancellation of the derivative instruments upon exercise.

Key Details

• Transaction date: February 2, 2026; Form 4 filed February 4, 2026 (covers the Feb 2 transactions).
• Prices: weighted average sale prices reported (per line) ~ $20.57, $20.57 and $20.54; sales occurred at prices ranging from $20.08 to $21.01 (per footnote).
• Shares involved: 11,112 shares exercised and sold in total.
• Cash flow: ~ $48,606 paid to exercise options; ~ $228,375 received from sales; net ~ $179,769 before taxes/fees.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes:
  • Transactions were effected pursuant to a Rule 10b5-1 trading plan adopted May 28, 2025 (footnote F2).
  • Footnote F1 notes 300 shares were acquired under the issuer’s Employee Stock Purchase Plan on Jan 30, 2026.
  • Footnote F3: reported sale prices are weighted averages; sales executed across $20.08–$21.01.
  • Footnotes F4–F6 describe vesting status/schedules of the options (some options fully vested/vest monthly from April 1, 2023).
• Filing timeliness: Form filed Feb 4 for Feb 2 transactions; no late-filing flag included in the provided excerpt.

Context

• This was effectively a cashless exercise: options were exercised and the acquired shares were sold the same day in open-market transactions, producing gross sale proceeds significantly above exercise costs.
• The use of a 10b5-1 plan indicates the sales were scheduled under a pre-established trading plan (limits inference about timing choice).
• These transactions are executive-level option exercises and routine monetization of equity rather than an outside investor buying/selling stock.