Clark William D 4

What Happened
Director William D. Clark received two derivative awards on June 9, 2026: 70,000 shares and 2,323 shares (total 72,323). Both awards were reported as acquisitions (transaction code A) at a reported price of $0.00. The awards are exercisable with respect to 100% of the shares on the one‑year anniversary of the grant date, provided Clark continues his service (see footnotes below).

Key Details

• Transaction date: 2026-06-09; Form 4 filed 2026-06-11 (timely filing).
• Type: Grant / award of derivative securities (code A). Reported acquisition price: $0.00.
• Vesting/exercise: 70,000 shares exercisable 1 year after grant conditioned on continuous service as a Board member (F1). 2,323 shares exercisable 1 year after grant conditioned on continuous service as a member of the Nominating/Corporate Governance Committee (F2).
• Shares owned after transaction: Not specified in the provided excerpt.
• No sale or cash exercise reported; these are grants of rights to acquire shares in the future, not immediate open‑market purchases or sales.

Context
Derivative awards (options or similar rights) give the holder the ability to acquire underlying shares subject to vesting/exercise rules; they do not represent immediate open‑market buying or selling. Such grants are common for board compensation; they do not by themselves indicate the director’s market view.