Ducommun (DCO) CEO Stephen Oswald Exercises Options, Sells Shares

What Happened

• Stephen G. Oswald, Ducommun’s Chairman, President & CEO and a director, exercised stock options to acquire 15,000 shares (exercise price $32.90 per share; cost $493,500) on August 11, 2026. To cover withholding and liquidity needs, he disposed of shares across transactions: 9,234 shares withheld/issued for tax at a reported weighted average $194.85 totaling $1,799,245, and 5,766 shares sold in an open-market sale at $201.15 per share totaling $1,159,831. He also gifted 3,400 shares on August 12, 2026. One additional line in the filing reflects the derivative instrument conversion related to the exercised option.

Key Details

• Transaction dates: Aug 11–12, 2026 (Period of Report: Aug 11, 2026; filed Aug 13, 2026; this is an amended Form 4).
• Option exercise: 15,000 shares exercised at $32.90 each; total exercise cost $493,500.
• Dispositions: 9,234 shares for tax/withholding at $194.85 (reported), and 5,766 shares sold in the open market at $201.15; combined sale proceeds reported ≈ $2.96M.
• Gift: 3,400 shares gifted on Aug 12, 2026 (footnote corrects earlier misreported gift amount).
• Footnotes: F1 notes multiple trades and a weighted average price (issuer/SEC may request full trade-level detail); F2 corrects the gift count; F3/F4 indicate the option was granted under Ducommun’s Stock Incentive Plan (Rule 16b-3) and vested in one-third increments in 2019–2021.
• Shares owned after the transactions: not provided in the summary data supplied.
• Filing timeliness: The Form 4 was filed within the typical 2-business-day window after the report date but was amended to correct details (the amended filing is highlighted).

Context

• This was effectively a cashless exercise: options were exercised and a portion of shares were used to satisfy exercise price/taxes (withheld) and additional shares sold in the open market. Such transactions are common for executives exercising vested options and do not, by themselves, indicate a change in the executive’s long-term view of the company.
• Gifts do not reflect market sentiment and may be for personal or estate-planning reasons.