Reiss Joel 4

What Happened
Joel Reiss, COO of TransDigm Group (TDG), exercised 3,900 shares of derivative securities on 2026-02-17 at $284.97 per share (exercise cost $1,111,383) and sold 3,900 shares in multiple open‑market trades the same day. The sales occurred across many tranches at prices roughly between $1,279.34 and $1,305.62 per share for total gross proceeds of about $5,046,143. Net proceeds before taxes/fees (proceeds minus exercise cost) were roughly $3.93M. The activity is coded M (option exercise) and S (open‑market sale) — effectively a same‑day (cashless) exercise and sale.

Key Details

• Transaction date: February 17, 2026; Form 4 filed February 18, 2026 (filed next day; not late).
• Exercise: 3,900 shares @ $284.97 — total cash paid $1,111,383 (code M).
• Sales: 3,900 shares sold in multiple trades (codes S) at varying prices; total gross proceeds ≈ $5,046,143.
• Reporting notes: Multiple footnotes (F1–F23) indicate the sales were reported as weighted averages for groups of trades; price ranges reported across the groups total about $1,279.34–$1,305.62.
• Shares owned after transaction: These transactions resulted in no net increase in shares from this block (3,900 exercised and 3,900 sold); the filing does not state total TDG holdings after the trades.
• No indication in the filing of a 10b5‑1 plan or gift; motives are not disclosed.

Context
This was a routine option exercise followed by immediate open‑market sales (cashless exercise/near‑simultaneous disposition). Such same‑day exercises and sales are common for executives converting option value to cash and do not, by themselves, indicate a view on the company’s prospects. Transaction codes: M = option exercise/conversion, S = open‑market sale.