McHugh Julie 4

What Happened
Director Julie McHugh received a grant of 63,481 restricted shares (reported as acquired at $0.00) and separately sold 21,571 shares in open-market transactions on June 16, 2026. The sale had a reported weighted-average price of $3.73, generating proceeds of approximately $80,460. The restricted stock grant vests in full on the date immediately preceding the next year’s annual meeting per the company policy.

Key Details

• Transaction dates: June 16, 2026 (both the grant and the sale). Filing date: June 17, 2026 (filed timely).
• Grant: 63,481 restricted shares, acquisition price $0.00 (award under director compensation policy).
• Sale: 21,571 shares disposed, weighted-average price $3.73, total proceeds ~$80,460. Sales occurred at prices ranging $3.66–$3.78 (reported as a weighted average).
• Vesting/plan note: Grant is subject to the Second Amended and Restated Non-employee Director Compensation Policy; vests in full the day before the next annual meeting (footnote F1).
• Trading plan: The sale was effected under a Rule 10b5-1 trading plan (footnote F2).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Filed the next day; appears timely (no late filing flag).

Context
Restricted stock grants (price $0) are compensation, not market purchases, and vest later per the policy. Sales executed under a pre-established 10b5-1 plan are pre-planned transactions and are generally viewed as routine rather than an ad hoc signal of sentiment. The sale was modest in size (≈$80k) relative to typical insider activity.