Pope Trent 4

What Happened

• Trent Pope, Vice President — Wellbore Optimization at Drilling Tools International (DTI), acquired 30,000 shares via exercise/conversion of derivative instruments on Feb 28, 2026 (two entries of 15,000 each) at $0.00 per share. He was also granted 22,502 restricted stock units (RSUs) and 67,505 performance stock units (PSUs) on Feb 27, 2026. All transactions are reported as acquisitions/awards (not sales); reported cash value for the exercises and grants is $0.00.

Key Details

• Transaction dates and prices:
  • Feb 27, 2026: Granted 22,502 RSUs and 67,505 PSUs (grant price $0.00).
  • Feb 28, 2026: Exercised/converted derivatives totaling 30,000 shares (two 15,000 entries) at $0.00.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • RSUs/PSUs: RSUs represent contingent rights to receive one share each; PSUs represent contingent rights subject to performance goals (see below).
  • The 22,502 RSUs (Feb 27, 2026 grant) vest in substantially equal installments on each of the first three anniversaries of the grant date, subject to continued service.
  • The 67,505 PSUs vest based on EBITDA performance (100% weighting), with an annual reset over a three‑year performance period; threshold achievement yields a 50% payout opportunity and maximum yields 200%.
  • A separate note describes prior option vesting schedule (two‑thirds vested over first two anniversaries, remaining one‑third on the third anniversary — Feb 14, 2024), relevant to the derivative conversion history.
• Filing timing: Form 4 was filed Mar 12, 2026 for transactions on Feb 27–28, 2026 — notably later than the typical two-business-day filing window; this may be considered a late filing.

Context

• The exercised/converted derivative shares were acquired at no cash cost per the filing ($0.00 reported), suggesting conversion of vested options or similar derivative instruments rather than an open-market purchase. The RSUs are time‑based awards; PSUs are performance-based and will only convert to shares depending on EBITDA results over the performance period. These entries are awards/acquisitions (compensation and option exercise), not sales — common insider compensation activity and not an immediate buy/sell market signal.