BURNETT JOSEPH 4
4 · ClearPoint Neuro, Inc. · Filed Jun 22, 2026
Research Summary
AI-generated summary of this filing
ClearPoint Neuro (CLPT) CEO Joseph Burnett Sells Shares After Option Exercise
What Happened Joseph M. Burnett, CEO, President and a director of ClearPoint Neuro (CLPT), exercised 60,000 options on June 17, 2026 at $2.50 per share (cost $150,000) and sold shares the same day. He sold 60,000 shares for a weighted average price of $17.79 (proceeds $1,067,400; prices ranged $17.35–$18.15) and sold an additional 1,843 shares for a weighted average $17.94 (proceeds $33,063; prices ranged $17.75–$18.08). The filing also reports a 60,000-share derivative disposition at $0. Total gross sale proceeds reported: $1,100,463.
Key Details
- Transaction date: June 17, 2026. Form 4 filed June 22, 2026 (filed after the typical two‑business‑day window).
- Option exercise: 60,000 shares @ $2.50 (total cost $150,000).
- Open‑market sales: 60,000 shares @ weighted avg $17.79 (range $17.35–$18.15) and 1,843 shares @ weighted avg $17.94 (range $17.75–$18.08). Reporting person can provide breakdown of shares sold at each price on request (F2, F3).
- Additional reported derivative disposition: 60,000 shares @ $0 (listed as derivative; filing notes these shares are owned directly by the Joseph M. Burnett Trust dated 10/20/2022 and indirectly by Mr. Burnett as trustee) (F4).
- Vesting note: the exercised options are tied to a grant dated 11/7/2017 with a vesting schedule described in the filing (F5).
- Sales were made pursuant to a written Rule 10b5-1 trading plan adopted June 11, 2025 (F1).
- Shares owned after the transactions are not specified in the Form 4.
Context The sequence—exercise of options followed by same‑day sales—effectively converts option holdings to cash (a cashless exercise pattern). The sales were executed under a prearranged 10b5‑1 plan, which is commonly used to schedule insider trades. The Form 4 was filed five days after the transactions, which is outside the standard two‑business‑day reporting window called for by Rule 16b‑3 (the filing appears late).
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-06-17$2.50/sh+60,000$150,000→ 176,842 total - Sale
Common Stock
[F1][F2]2026-06-17$17.79/sh−60,000$1,067,400→ 116,842 total - Sale
Common Stock
[F1][F3][F4]2026-06-17$17.94/sh−1,843$33,063→ 191,388 total(indirect: See Footnote) - Exercise/Conversion
Stock Options (right to buy)
[F1][F5]2026-06-17−60,000→ 270,000 totalExercise: $2.50Exp: 2027-11-07→ Common Stock (60,000 underlying)
Footnotes (5)
- [F1]The options exercised and sales reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on June 11, 2025 in accordance with Rule 10b5-1.
- [F2]Represents a weighted average sales price per share. The shares were sold at prices ranging from $17.35 to $18.15. The Reporting Person has provided to the issuer, and will provide to any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
- [F3]Represents a weighted average sales price per share. The shares were sold at prices ranging from $17.75 to $18.08. The Reporting Person has provided to the issuer, and will provide to any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
- [F4]These shares are owned directly by the Joseph M. Burnett Trust dated 10/20/2022 and indirectly by Joseph M. Burnett as trustee of the trust.
- [F5]The shares subject to this option vest as follows: (i) one-third of the total shares on the first anniversary of the grant date; and (ii) the remaining two-thirds of the total shares ratably on a quarterly basis over the 2-year period immediately following the first anniversary of the grant date. The grant date is November 7, 2017.