WU Simone 4

What Happened

• Simone Wu, Senior Vice President of Choice Hotels (CHH), exercised 8,080 stock options on Feb 2, 2026 (acquiring those shares at $81.15 per share for a total cost of $655,692) and sold 8,080 shares the same day in multiple open-market transactions for aggregate proceeds of approximately $820,579.
• The Form 4 also reports a disposition of 8,080 shares at $0.00 (listed as a derivative disposal), which commonly reflects net settlement or share withholding related to the option exercise. The transactions were executed under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction date: February 2, 2026; Form 4 filed Feb 4, 2026 (appears timely).
• Option exercise: 8,080 shares acquired at $81.15 each = $655,692.
• Open-market sales (total 8,080 shares, total proceeds ≈ $820,579):
  • 4,234 shares @ weighted avg $101.01 — proceeds $427,676 (sales at $100.42–$101.41) [F2]
  • 2,446 shares @ weighted avg $101.63 — proceeds $248,587 (sales at $101.43–$101.96) [F3]
  • 1,000 shares @ weighted avg $102.72 — proceeds $102,720 (sales at $102.46–$102.87) [F4]
  • 400 shares @ $103.99 — proceeds $41,596
• Derivative disposition: 8,080 shares @ $0.00 reported as disposed (likely net settlement/withholding in connection with the exercise).
• Shares owned after the transactions are not provided here; check the complete Form 4 for post-transaction holdings.
• Notable footnotes: trades were made pursuant to a Rule 10b5-1 trading plan adopted March 14, 2025 [F1]; the underlying options vested in four equal annual installments beginning March 2, 2020 [F5].

Context

• Because Wu exercised options and sold the same number of shares the same day, this resembles a cashless exercise and routine disposition rather than a fresh buy signal; the 10b5-1 plan indicates the sales were pre-planned.
• For retail investors, purchases by insiders generally carry more forward-looking informational weight than routine exercises followed by sales; consult the full Form 4 for ownership details and consider this trade in the broader context of other insider activity and company fundamentals.