Ottinger Lea Anne 4

What Happened

• Lea Anne Ottinger, a director of BJ's Restaurants (BJRI), exercised/converted 4,153 derivative shares on 2026-06-18 at an exercise price of $35.95 per share (cost $149,300) and immediately sold 2,792 common shares in an open-market sale at $53.50 each (proceeds $149,372). She was also granted 4,433 Restricted Stock Units (RSUs) the same day (no immediate cash value).
• Net effect: an immediate net increase of 1,361 common shares (4,153 acquired minus 2,792 sold) plus 4,433 unvested RSUs that represent contingent rights to shares.

Key Details

• Transaction date: 2026-06-18; Form 4 filed: 2026-06-22 (four days after the transactions).
• Exercise: 4,153 shares exercised at $35.95 = $149,300 (reported as acquired).
• Sale: 2,792 shares sold at $53.50 = $149,372 (reported as disposed).
• Grant: 4,433 RSUs granted (unvested, $0 value on grant).
• Footnotes: RSUs vest in one equal installment on June 18, 2027; the filing notes the 4,433 RSUs are unvested.
• Shares owned after the transactions are not specified in the provided data.

Context

• The pattern—exercising/ converting derivative instruments and immediately selling some shares—is a common cashless-style transaction to cover exercise costs and tax obligations. The derivative "disposed" entry at $0 reflects conversion/cancellation of the derivative instrument upon exercise, not a cash sale.
• RSU grants are unvested and do not convey immediate sellable shares; they vest on the date noted in the footnote. The filing was submitted a few days after the transaction (check the SEC filing for any timeliness remarks).