Davidar David D 4

What Happened
Director Davidar David exercised 25,000 stock options and immediately sold 25,000 shares on 2026-06-05. The options were exercised at $26.27 per share (total exercise cost $656,750) and the resulting shares were sold in the open market at a weighted average price of $80.76 per share for total proceeds of $2,019,073. The filing also reports a related derivative disposition (25,000 units at $0), reflecting conversion/disposition of the option instrument. The options were granted January 30, 2017 and are fully vested.

Key Details

• Transaction date: 2026-06-05; Form 4 filed: 2026-06-09 (timely — within two business days).
• Exercise: 25,000 options exercised at $26.27/share = $656,750 total.
• Sale: 25,000 shares sold, weighted average price $80.76/share = $2,019,073 total (sale price range reported $80.59–$80.92).
• Derivative entry: 25,000 option units reported disposed at $0, reflecting conversion of the options.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: shares sold in multiple trades (weighted avg reported); some shares are held in a trust for the reporting person’s spouse and children (spouse is trustee).

Context
This was an exercise of vested options followed by an immediate sale of the resulting shares — a common practice to realize gains and/or cover exercise costs and taxes. Sales do not necessarily indicate a change in confidence; purchases are generally more informative about bullish insider sentiment. The filing appears timely and includes customary footnotes about the weighted average sale price and trust holdings.