NEELS GUIDO J 4

What Happened

• Director Guido J. Neels received an award on 2026-06-11 consisting of a derivative grant covering 106,393 shares. The filing reports an acquisition price of $0.00 and a total reported value of $0 (derivative), indicating this was a compensation grant rather than a market purchase.
• The award is a derivative option that will vest and become exercisable on the earlier of (i) the day immediately before the issuer's first annual meeting following the grant date or (ii) the first anniversary of the grant, subject to Neels' continued service on the board.

Key Details

• Transaction date: 2026-06-11; Form 4 filed: 2026-06-15 (Accession: 0001222362-26-000013). Filing appears timely (filed within the Form 4 reporting window).
• Instrument: Derivative award (option) for 106,393 shares; reported acquisition price $0.00; total reported value $0 (derivative).
• Vesting/exercisability: Vests/becomes exercisable on earlier of pre-annual meeting date or first anniversary, subject to continued board service (see footnote).
• Shares owned after transaction: Not specified in the Form 4 filing.
• No indication of immediate exercise or sale — this is a standard director compensation award, not a cashless exercise or open-market trade.

Context

• Director awards like this are common as part of non-employee director compensation programs and are typically intended to align long-term interests with shareholders; they do not represent an open-market purchase or sale of stock.
• Because the grant vests in the future and is exercisable only upon vesting, it does not result in immediate shares outstanding in the insider's hands unless later exercised.