Riese Phillip John 4

What Happened
Director Phillip John Riese exercised 5,000 options on June 2, 2026 at an exercise price of $0.59 per share (cost $2,950) and sold 5,000 shares in open-market transactions the same day — 4,800 shares at a weighted avg. $15.39 ($73,894) and 200 shares at a weighted avg. $16.18 ($3,237), for total proceeds of ~$77,131. The filing also reports receipt of a restricted stock unit award for 11,558 shares (no cash value) that vests by June 2, 2027 (or at the next annual meeting) and will accelerate on a change in control or upon death/disability. The optioned shares are noted as fully vested.

Key Details

• Transaction date: June 2, 2026; Form 4 filed June 4, 2026 (appears timely).
• Option exercise: 5,000 shares at $0.59 each; total cost $2,950.
• Open-market sales: 4,800 shares @ weighted $15.39 = $73,894; 200 shares @ weighted $16.18 = $3,237; combined proceeds ~$77,131. Sales executed under a previously adopted Rule 10b5-1 trading plan (F1).
• RSU grant: 11,558 restricted stock units, $0 purchase price; vesting on earlier of June 2, 2027 or next annual meeting, accelerates on change in control or death/disability (F4).
• Option status: shares subject to the option are fully vested (F5).
• Weighted-price ranges: sales prices reported as ranges ($15.09–$15.88 and $16.155–$16.21) — reporting person can provide per-price breakouts on request (F2, F3).
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context
This is director-level activity (not a 10% owner). The pattern — exercising options at a low strike and selling shares the same day under a 10b5-1 plan — is commonly used to cover exercise costs and tax liabilities. The RSU award vests in the future and may not reflect immediate sell/buy intent. All details and footnotes are in the SEC Form 4 filing (accession 0001193125-26-257748) for investors who want the complete record.