Halverson Kenneth 4

What Happened

• Kenneth Halverson, a director of Richardson Electronics (RELL), exercised options and sold stock on Feb 12, 2026. He exercised two option blocks (5,000 shares at $5.61 and 5,000 shares at $4.26), paying $28,050 and $21,300 respectively (total exercise cost $49,350), and sold 10,000 shares in the open market for a weighted average price of $13.09, generating $130,850 in proceeds. The filing also shows two 5,000-share derivative dispositions at $0.00 (likely shares surrendered for tax/settlement).

Key Details

• Transaction date: 2026-02-12; Form 4 filed: 2026-02-17 (appears timely)
• Sale: 10,000 shares sold, weighted average sale price $13.09 (range $13.00–$13.27 per footnote)
• Exercises: 5,000 shares @ $5.61 (cost $28,050) and 5,000 shares @ $4.26 (cost $21,300)
• Zero-price dispositions: Two entries of 5,000 shares @ $0.00 (derivative dispositions, likely tax withholding/net settlement)
• Net cash difference (sale proceeds minus exercise cost): ~$81,500 (before taxes/fees)
• Shares owned after transaction: Not disclosed in the provided filing excerpt
• Footnotes: F1 notes weighted-average sale price and price range; F2 & F3 state the options vested immediately upon grant (7/22/2019 and 7/21/2020)

Context

• This was an option exercise followed by an immediate open-market sale (a common way to realize gains from vested options). The $0.00 derivative dispositions likely reflect shares withheld or surrendered to cover taxes or exercise costs (i.e., a cashless/settlement element), not a separate market sale. Sales by insiders are common and do not by themselves indicate company performance.