McCoy David M. 4

What Happened

• Nell M. Blatherwick (reported on this Form 4) exercised/converted a series of derivative awards into common stock on Feb 14, 2026. The exercises converted a total of 168,553 shares at $0 exercise price. To satisfy tax withholding on those exercises, 54,885 shares were surrendered/withheld at $8.70 per share, representing roughly $477,499. Net shares issued to Blatherwick from the conversions were about 113,668 (168,553 converted less 54,885 withheld).
• On Feb 17, 2026, Blatherwick was also awarded a large number of restricted stock units/derivative awards (A codes) totaling 466,006 RSUs (recorded at $0). These awards are subject to vesting schedules described in the filing.

Key Details

• Transaction dates: exercises/conversions and tax withholdings on 2026-02-14; awards granted on 2026-02-17; Form 4 filed 2026-02-18.
• Prices: exercised at $0 (derivative conversion); tax-withheld shares surrendered at $8.70 per share (F), totaling roughly $477,499.
• Net effect (approx): +168,553 shares converted → −54,885 shares surrendered for taxes → net ≈ +113,668 common shares issued to Blatherwick.
• Grants: 466,006 RSUs awarded on Feb 17 (A). Per filing footnotes, some RSUs vest 25% annually over years (multi-year vesting) and others vest after one year (see footnotes F8/F9).
• Codes explained: M = exercise/conversion of derivative, F = shares surrendered for tax withholding, A = award/grant.
• Filing context: This Form 4 was filed on behalf of seven reporting persons who may be a Section 13(d) group (collectively >10% ownership); each reporting person disclaims beneficial ownership of the others’ securities. The filing appears to reflect a cashless/net settlement of tax obligations rather than an open-market sale.

Context

• This was primarily an option/derivative conversion plus tax-withholding surrender (a routine, non-market sale method to pay taxes), followed by new RSU grants. Cashless or net-share settlements for tax withholding are common and do not by themselves indicate a buy/sell market sentiment.
• The Form 4 covers multiple insiders as noted in the remarks; consult the full filing if you need exact post-transaction total holdings or to see transactions for the other reporting persons.