RELL Director James Benham Exercises Options, Sells 164 Shares

What Happened

James Benham, a director of Richardson Electronics, exercised 164 optioned shares and then sold those 164 shares in an open-market transaction on July 29, 2026. He paid $15.60 per share to exercise (total $2,558) and sold the shares at $19.06 per share (proceeds $3,126), yielding a small gross gain before any taxes or fees.

Key Details

• Transaction date: July 29, 2026. Form filed July 31, 2026 (no late filing indicated).
• Actions recorded:
  • Exercise/conversion of derivative (code M): 164 shares acquired at $15.60 per share (total $2,558).
  • Open-market sale (code S): 164 shares sold at $19.06 per share (total $3,126).
  • Derivative disposition (code M): the option position for 164 shares was closed/converted (reported at $0.00).
• Shares owned after the transaction: not specified in the filing.
• Footnote: Options vested immediately (vesting date 7/18/2022). No 10b5-1 plan, tax-withholding, or other special handling disclosed.

Context

This was effectively a cashless exercise — the options were exercised and the resulting shares were promptly sold in the market. The dollar amounts are small (roughly $2.6k cost and $3.1k sale), so this appears to be a routine insider exercise/sale rather than a large directional bet. For retail investors, purchases typically convey a clearer bullish signal than small post-exercise sales.