Marshall Joseph W III 4

What Happened

• Marshall Joseph W III, a director of SIGA Technologies, reported transactions on June 9, 2026. He received/converted a total of RSU/derivative interests (34,169 shares granted and 24,116 shares converted/exercised) and disposed of 7,235 shares to the issuer at $4.39 per share for proceeds of $31,762.
• The filings show: a grant/award (A) of 34,169 RSU-related shares (acquired at $0.00), an exercise/conversion (M) of 24,116 shares, and a disposition (D) of 7,235 shares to the issuer at $4.39 ($31,762). There is also a reported conversion/disposition of 24,116 shares at $0.00 reflecting derivative settlement mechanics.

Key Details

• Transaction date: June 9, 2026; Form 4 filed June 10, 2026 (timely).
• Sale/disposition: 7,235 shares at $4.39 each, total $31,762.
• Awards/conversions: 34,169 shares granted (RSUs) and 24,116 shares reported as converted/exercised (derivative).
• Shares owned after transaction: not specified in the filed excerpt.
• Relevant footnotes: RSUs are contingent rights to common stock (one-for-one); some RSUs were cash-settled per the Board compensation program to cover tax obligations (footnotes indicate partial cash settlement and that up to 10,251 RSUs may settle in cash at the Board’s discretion). The RSUs were granted June 10, 2025 and fully vested at the 2026 annual meeting.

Context

• These transactions involve RSUs/derivative settlement rather than an open-market investment. The partial cash settlement (selling/surrendering shares back to the issuer) is a common practice to cover tax withholding when RSUs vest and does not necessarily indicate a directional view on the company’s stock.
• For retail investors: purchases or awards can be informative, but here the cash-settlement component is primarily administrative (tax-related) rather than a market buy decision.