Brautigam Sharon E 4

What Happened

• Director Sharon E. Brautigam exercised stock options (Form 4 code M) on 2026-06-04, acquiring 1,028 shares at an exercise price of $7.89 per share for a total cash outlay of $8,111. The filing also reports the corresponding derivative (the options) as disposed/cancelled in connection with the exercise (reported at $0.00).

Key Details

• Transaction date: 2026-06-04; exercise price: $7.89; shares acquired: 1,028; total paid: $8,111.
• The disposal line reflects the option/derivative being cancelled on exercise (reported at $0.00), not a sale of the underlying shares.
• Post-transaction unvested equity noted: 893 restricted shares vesting 12/09/2026 and 527 restricted shares vesting 03/18/2027 (Footnote F1).
• Remaining unvested options after this transaction: 1,542 (granted 04/23/2024; vest in five equal annual installments beginning one year after grant) (Footnote F2).
• Filing appears timely (report and transaction date the same); no 10b5-1 plan or tax-withholding sale reported.

Context

• This was an option exercise (not an open-market purchase or sale). The report shows the option was converted into shares (option cancelled) — there is no separate sale of the acquired shares reported here.
• Such exercises are often routine for insiders exercising compensation awards; they are factual disclosures and do not, by themselves, indicate the insider’s market view.