Rees Joanna 4

What Happened Joanna Rees, a director of Fair Isaac Corp (FICO), exercised stock options to acquire 358 shares at an exercise price of $391.57 per share (cost = $140,182), and the same day sold those 358 shares in the open market at $1,360.00 per share for gross proceeds of $486,880. The filing also shows a related derivative conversion entry reported at $0.00, which reflects the option-to-share conversion/settlement mechanics rather than additional cash consideration. This is effectively a cashless exercise followed by an immediate sale — a routine liquidity transaction rather than a fresh purchase.

Key Details

• Transaction date: 2026-02-13
• Exercise: 358 shares at $391.57 each — total exercise cost $140,182
• Sale: 358 shares at $1,360.00 each — gross proceeds $486,880
• Derivative/settlement line: 358 shares @ $0.00 (reporting of conversion/settlement)
• Shares owned after transaction: not specified in the provided Form 4 excerpt
• Filing date: 2026-02-18 for a 2026-02-13 transaction — the Form 4 appears to have been filed late (filed five days after the transaction), which can reduce the timely transparency normally expected from insider reporting

Context Because the shares were exercised and immediately sold, this is a cashless exercise/liquidity event rather than a directional bet on the stock. Such transactions commonly allow insiders to realize option value and meet tax or cash needs; they do not necessarily signal a change in the insider’s view of the company. The $0.00 derivative line is a reporting entry related to conversion/settlement of the option and does not indicate an additional sale or purchase of shares.