Lucas Shannon 4

What Happened

• Lucas Shannon (reported as a 10% owner) had 22,918 restricted stock units convert to common shares on April 30, 2026 (transaction code M). The conversion is reported at $0.00 per share because these were RSUs vesting into stock.
• To cover tax withholding (transaction code F), 9,019 of those shares were surrendered/withheld valued at $18.65 each (≈ $168,204). Separately, Lucas sold 8,450 shares on May 1, 2026 at $18.77 ($158,607) and 6,647 shares on May 4, 2026 at $18.88 ($125,495). Combined value of the withheld shares plus open‑market sales is about $452,306.
• These transactions are primarily dispositions (sales/withholding); the conversion of RSUs into shares is not a purchase signal. The sales were at prices roughly in the $18.75–$18.90 range.

Key Details

• Transaction dates & prices:
  • RSU conversion (vested): 4/30/2026 — 22,918 shares @ $0.00 (acquired via conversion)
  • Tax withholding: 4/30/2026 — 9,019 shares @ $18.65 (disposed) ≈ $168,204
  • Open-market sales: 5/1/2026 — 8,450 shares @ $18.77 = $158,607; 5/4/2026 — 6,647 shares @ $18.88 = $125,495
• Total shares sold/withheld related to this vesting: 24,666 reported dispositions (9,019 withheld + 15,097 sold); open-market sale proceeds ≈ $284,102; combined value including withholding ≈ $452,306.
• Footnotes:
  • Sales were made pursuant to a 10b5-1 trading plan adopted Nov 21, 2025 (planned sales).
  • The shares converted were restricted stock units; RSUs vest monthly under a schedule (vesting period runs Jan 1, 2025–Dec 31, 2026).
  • Several footnotes indicate some shares are held through spouse‑controlled trusts or entities and the reporting person disclaims beneficial ownership except to the extent of pecuniary interest.
• Filing/timeliness: Form 4 filed 5/4/2026 reporting transactions from 4/30–5/4/2026. The filing does not indicate a late filing in the provided data.

Context

• This is a routine vesting + sell-to-cover tax withholding combined with preplanned open‑market sales (10b5-1). The RSU conversion followed the issuer’s scheduled vesting; the withheld shares covered tax obligations (a common cashless settlement).
• As a reported 10% owner (not labeled here as an executive), these transactions reflect scheduled vesting and plan-driven sales rather than an obvious ad hoc trade. Retail investors should treat these as largely administrative in nature.