Glingener Christoph 4

What Happened

• Christoph Glingener, Chief Technology Officer of ADTRAN (ADTN), exercised stock options and sold the resulting shares. Between May 7–8, 2026 he exercised a total of 148,392 shares (exercises at $7.01 and $12.17) and sold the same 148,392 shares in open-market transactions for aggregate proceeds of about $2.22 million. The reported exercise costs were about $1.59 million. The transactions were made under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction dates: May 7–8, 2026.
• Exercises (acquisitions): 41,220 shares @ $7.01 (cost $288,952); 84,895 shares @ $12.17 (cost $1,033,172); 22,277 shares @ $12.17 (cost $271,111).
• Sales (dispositions): 41,220 shares @ weighted avg $14.73 (proceeds $607,171; prices ranged $14.355–$15.69 per footnote); 84,895 shares @ weighted avg $15.06 (proceeds $1,278,519; prices ranged $15.00–$15.69 per footnote); 22,277 shares @ $15.00 (proceeds $334,155).
• Total shares exercised/sold: 148,392; total proceeds ≈ $2.22M; total exercise cost ≈ $1.59M.
• Shares owned after transaction: not specified in the filing.
• Footnotes of note: F1 — transactions executed under a Rule 10b5-1 plan adopted Dec 12, 2025; F2–F4 — sale prices reported as weighted averages with price ranges; F5 — an option was vested and fully exercisable; F6 — another option vests May 15, 2026.
• Filing: Form 4 filed May 11, 2026 (no late filing indicated in the report).

Context

• These transactions are typical option exercises followed by immediate open-market sales (shares exercised and then sold the same day or the next day). Such patterns often reflect exercising to cover option costs/taxes or to monetize vested equity; they do not, by themselves, indicate management’s view of the company’s prospects. The 10b5-1 plan note means the sales were made under a pre-set trading plan.