BARRETT MICHAEL G. 4

What Happened

• Michael G. Barrett, CEO and Director of Magnite (MGNI), exercised a total of 278,596 stock options and immediately sold the resulting shares in two transactions on June 15–16, 2026. He exercised 178,596 options on 6/15 (strike $5.80) and sold those shares at a weighted average price about $16.59 (gross proceeds ≈ $2.96M). On 6/16 he exercised 100,000 options (strike $5.80) and sold them at $17.50 (gross proceeds $1.75M). Total exercise cost ≈ $1.62M; total gross sale proceeds ≈ $4.71M.

Key Details

• Dates & trades:
  • 2026-06-15: Exercised 178,596 options at $5.80 ($1,035,857) and sold 178,596 shares at a weighted avg ≈ $16.59 (proceeds ≈ $2,962,908). Sales ranged $15.945–$16.93 (footnote).
  • 2026-06-16: Exercised 100,000 options at $5.80 ($580,000) and sold 100,000 shares at $17.50 (proceeds $1,750,000).
• Total: 278,596 options exercised; 278,596 shares sold; gross proceeds ≈ $4.71M; aggregate exercise cost ≈ $1.62M.
• Footnotes: June 15 exercise/sale were made pursuant to a Rule 10b5‑1 trading plan adopted March 13, 2026. Options were fully vested and were granted as compensation.
• Derivative reporting: The Form 4 lists derivative dispositions at $0.00 reflecting conversion/settlement of the options upon exercise.
• Timeliness: Form filed 2026-06-17 for transactions on 6/15–6/16 (filed within the typical 2‑business‑day Form 4 window).

Context

• This was an exercise of vested options followed by immediate open‑market sales (a common “exercise-and-sell” or cashless-style outcome). Exercises were compensation-related (per filing) and at a $5.80 strike, well below the sale prices — producing the net proceeds described above.
• The June 15 sales were executed under a pre-established 10b5‑1 plan, which sets scheduled trades regardless of short‑term insider views; that can reduce but does not eliminate questions about timing.
• No ownership after-transaction total was provided in the excerpt; refer to the full Form 4 for Barrett’s post‑trade holdings.