REICH JONATHAN 4
4 · Zedge, Inc. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Zedge (ZDGE) CEO Jonathan Reich Exercises Options, Receives Shares
What Happened Jonathan Reich, CEO and President of Zedge (ZDGE), exercised options covering 181,616 shares on May 29, 2026. The exercise had an effective cost of $1.73 per share (total $314,196). Under a cashless exercise, 132,226 shares were disposed/withheld (at $3.01 per share, reported value $398,000) to pay the exercise price and tax withholding, and 49,390 shares were issued to Reich net of those withholdings.
Key Details
- Transaction date: May 29, 2026. Form filed June 2, 2026 (filed within the required two business days).
- Option exercise: 181,616 shares exercised at $1.73 each (total $314,196) — transaction code M.
- Withholding/payment: 132,226 shares used/withheld at $3.01 each (reported $398,000) to satisfy exercise price and taxes — transaction code F.
- Net issued to insider: 49,390 shares were issued to Jonathan Reich after the cashless exercise/withholding.
- Footnotes: F1 notes the use of a cashless exercise; F3 details the split (104,384 shares used to pay exercise price, 27,842 withheld for taxes, 49,390 issued); F2 references other components of beneficial ownership (2,176 spin-off shares and 18,900 DSUs); F4 date is as of June 2, 2026.
- Filing timeliness: Filing appears timely (transaction on 5/29, filed 6/2).
Context This was an option exercise using a cashless mechanism — a common way for insiders to convert option rights into shares without an out-of-pocket cash payment by surrendering part of the exercised shares to cover costs and taxes. The filing reflects a net increase of 49,390 shares to Reich’s holdings (after withholding), but part of the exercised position was surrendered to cover the exercise/tax obligations. This type of transaction is often routine and does not by itself indicate the insider’s view of the company’s future performance.
Insider Transaction Report
- Exercise/Conversion
Class B Common Stock, par value $.01 per share
[F1][F2]2026-05-29$1.73/sh+181,616$314,196→ 211,507 total - Tax Payment
Class B Common Stock, par value $.01 per share
[F3]2026-05-29$3.01/sh−132,226$398,000→ 79,281 total - Exercise/Conversion
Employee Stock Option (Right to Buy)
2026-05-29−181,616→ 0 totalExercise: $1.73From: 2014-11-01Exp: 2026-05-30→ Class B Common Stock (0 underlying)
- 39,950(indirect: By 401(k))
Class B Common Stock, par value $.01 per share
[F4]
Footnotes (4)
- [F1]Options with respect to 181,616 shares were exercised using a "cashless exercise" mechanism in accordance with the terms of the option instrument.
- [F2]Includes 181,616 shares covered by the options that were exercised using a "cashless exercise", 2,176 shares due to the Reporting Person's ownership of IDT's Class B Common Stock at the time of the Issuer's spin-off from IDT and 18,900 shares issued upon the vesting of DSUs.
- [F3]Represents options with respect to 104,384 shares which were utilized to pay the exercise price and 27,842 shares which were withheld by the Issuer to pay the tax withholding obligation that arose upon the Reporting Person's exercise of the option to purchase shares of Class B Common Stock described in Table II of this Form 4. 49,390 shares were issued to the Reporting Person.
- [F4]As of June 2, 2026.