Reiss Joel 4

What Happened

• Joel Reiss, Chief Operating Officer of TransDigm Group (TDG), exercised 3,900 derivative securities at $284.97 per share (total exercise cost $1,111,383) on 2026-03-16 (transaction code M). He then sold the 3,900 shares in a series of open-market transactions the same day (transaction code S), generating aggregate gross proceeds of approximately $4,850,430. The exercised shares were disposed the same day, so these transactions resulted in no net increase in shares held from this activity.

Key Details

• Transaction date: 2026-03-16 (Form 4 filed 2026-03-17 — timely).
• Exercise: 3,900 shares acquired at $284.97 each for $1,111,383.
• Sales: 3,900 shares sold in multiple blocks at varying prices; total proceeds ≈ $4,850,430.
• Price range for sales (per filing footnotes): approximately $1,231.18 — $1,250.65 across the different blocks (weighted-average prices reported per block).
• Net cash (proceeds minus exercise cost): ≈ $3,739,047 before taxes and fees (calculation based on reported amounts).
• Effect on ownership: No net increase from these transactions — the shares acquired via exercise were sold the same day.
• Transaction codes: M = option exercise/conversion; S = open-market sale.
• Footnotes: Several blocks include weighted-average pricing and ranges; the filer offered to provide per-price breakdowns upon request.

Context

• This is a common cashless exercise / sell-to-cover pattern: options were exercised and the resulting shares were sold immediately rather than retained. Such transactions typically reflect liquidity or tax-coverage activity and do not by themselves indicate a lasting change in insider ownership or a directional bet on the stock.