Richardson Electronics (RELL) CFO Ben Robert Exercises Options, Sells Shares

What Happened

• Ben Robert J, CFO / CAO / Corporate Secretary of Richardson Electronics (RELL), exercised stock options on July 28, 2026 and sold shares the same day. He exercised three option tranches totaling 7,500 shares (1,500 @ $7.66; 4,000 @ $11.89; 2,000 @ $9.73), paying $78,510 in aggregate. He then sold 7,500 shares in an open-market transaction at $20.00 per share, receiving $150,000. The Form 4 also reports corresponding derivative disposals at $0, which commonly reflect conversion/net settlement or shares withheld for taxes.

Key Details

• Transaction date: July 28, 2026.
• Option exercises (acquired): 1,500 shares @ $7.66 ($11,490); 4,000 shares @ $11.89 ($47,560); 2,000 shares @ $9.73 ($19,460). Total exercise cost = $78,510.
• Open-market sale (disposed): 7,500 shares @ $20.00 = $150,000 gross proceeds.
• Additional derivative disposals: 1,500; 4,000; 2,000 shares reported as disposed at $0 (reported as part of the exercise/settlement).
• Shares owned after transaction: not specified in the provided filing extract.
• Vesting notes from the filing:
  • F1: Options vest 20% per year, beginning 7/19/2022
  • F2: Options vest 20% per year, beginning 7/22/2025
  • F3: Options vest 20% per year, beginning 7/21/2026
• Filing timeliness: Report filed 7/30/2026 for a 7/28/2026 transaction (filed within the standard Form 4 reporting window).

Context

• Because the exercises and the sale occurred the same day, this appears to be a contemporaneous exercise-and-sell event (commonly called a cashless or same-day sale), where an insider converts options to shares and sells them immediately. The $0 derivative disposals are typical bookkeeping entries when options convert to stock or when shares are surrendered/withheld to cover taxes or option costs.
• This is a routine insider liquidity event (exercise + sale) rather than an outright open-market purchase; purchases typically signal direct insider accumulation, while same-day exercises and sales often reflect compensation monetization or tax/vesting management.