Zedge (ZDGE) CEO Jonathan Reich Exercises Options, Sells Shares

What Happened

• Jonathan Reich, CEO & President of Zedge, exercised options and received vested deferred stock units (DSUs). On Sep 25, 2026 he exercised options for 60,000 shares (cashless exercise) reported at an exercise cost basis of $2.27 per share (total $136,200). To cover the exercise price and tax withholding, 50,471 shares were surrendered/withheld (reported disposition value $152,422).
• On Sep 7, 2026, 6,467 DSUs vested and converted into 6,467 shares (market price used $2.97); 2,331 of those shares were withheld for taxes (reported disposition value $6,923). The filing shows derivative/vesting activity and associated share-withholding for taxes.

Key Details

• Transaction dates and prices:
  • Sep 7, 2026: DSU vesting → 6,467 shares issued; 2,331 shares withheld at $2.97 (tax withholding).
  • Sep 25, 2026: Option exercise → 60,000 shares at $2.27 (exercise cost $136,200); 50,471 shares used/withheld at $3.02 (reported $152,422).
• Mechanism/footnotes:
  • DSUs convert one-for-one to Class B common stock (F1, F6); number issued per DSU depended on market-price bands at vesting (F6).
  • Option exercise was a cashless exercise per the option terms (F3); share withholding was used to cover exercise price and taxes (F2, F4).
  • Filing references that certain shares were issued and certain shares were withheld to satisfy exercise and tax obligations (see F4 for details).
• Shares owned after the transaction: not specified in the excerpt provided (filing notes ownership as of Sep 29, 2026 — F5).
• Timeliness: The primary transactions occurred Sep 7 and Sep 25, 2026; the Form 4 was filed Sep 29, 2026. Form 4s are typically due within two business days, so this filing appears late.

Context

• For option exercises done cashless, the issuer typically withholds/surrenders some of the resulting shares to cover the exercise price and tax withholding — that is what occurred here (cashless exercise + share withholding).
• DSU vesting is an award conversion (not an open-market sale or purchase) and withholding for taxes is routine; these steps do not by themselves signal a directional market view.
• This filing documents insider conversion/exercise and withholding activity rather than an outright open-market purchase of additional shares for cash.