Richards Timothy T. 4

What Happened

• Timothy T. Richards, a director of ClearPoint Neuro (CLPT), exercised a total of 1,000 option shares (code M) on 2026-06-04 at an exercise price of $10.00 per share (total exercise cost $10,000).
• As part of the same activity, 376 shares were surrendered/withheld to cover tax liability (code F) at $13.30 per share (value $5,001) and 500 shares were disposed as a derivative transaction (code M) at $10.00 per share (value $5,000). After the exercises and dispositions, the net new shares retained by Richards were 124 shares (1,000 exercised − 876 surrendered/disposed).
• This pattern reflects an option exercise with shares used to satisfy tax and settlement obligations (a routine, non-open-market disposition rather than an investment sell-off).

Key Details

• Transaction date: 2026-06-04; Form filed: 2026-06-08 (timely filing).
• Exercise: 1,000 options at $10.00 each (total $10,000).
• Disposals: 500 shares (derivative) at $10.00 = $5,000; 376 shares withheld for taxes at $13.30 = $5,001.
• Net shares acquired: 124 shares (based on reported exercises and disposals).
• Footnote: The option referenced was previously reported as covering 20,000 shares at $0.25, adjusted for a stock split on July 27, 2016 (F1).
• Filing shows routine exercise/withholding; no 10b5-1 plan or late filing noted in the provided excerpt.

Context

• Code M indicates option exercise/conversion; code F indicates shares surrendered/withheld to satisfy tax or exercise-related liabilities. When options are exercised and some shares are immediately surrendered or sold to cover costs/taxes, it’s typically a cashless or net-settlement style transaction rather than an open-market buy or sell.
• These transactions are common for executives and directors exercising vested options and do not by themselves indicate a change in opinion about the company.