Cimerola Patrick 4

What Happened

• Patrick Cimerola, Chief Human Resources Officer at Choice Hotels (CHH), exercised stock options on 2026-02-12 to acquire 1,232 shares at an exercise price of $81.15 per share (total = $99,977).
• To satisfy tax/withholding obligations, 917 of those shares were withheld/disposed at $109.01 per share (proceeds ≈ $99,962). Net shares retained from the exercise: 315 shares.
• This was an option exercise with share withholding (a cashless-like settlement for taxes), not an open-market sale.

Key Details

• Transaction date: 2026-02-12; Form filed 2026-02-13 (timely).
• Option exercise (code M): 1,232 shares acquired at $81.15 (total $99,977).
• Tax/withholding (code F): 917 shares disposed at $109.01 (total ≈ $99,962) to cover tax liability/exercise costs.
• Net shares received: 315 (1,232 acquired − 917 withheld).
• Footnote: Options vested in four equal annual installments beginning March 2, 2020 (F1).
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• This is a routine option exercise with share withholding to cover taxes—common for executives exercising vested options. The withheld shares are not a separate market sale indicating selling intent; they fulfill tax obligations.
• Transaction codes: M = option exercise; F = payment of exercise price or tax liability via share withholding.