ROBERTS BRIAN L 4

What Happened
Brian L. Roberts, Chairman of the Board and Co-CEO of Comcast (CMCSA), exercised options to acquire 984,320 shares on 2026-02-11 at an exercise price of $28.38 per share (cost = $27,935,002). As part of the same transaction he surrendered/sold 907,653 shares to cover the exercise price and tax withholding at $32.70 per share (proceeds = $29,675,715). The filing also records the conversion/disposition of the underlying derivative (the option) related to the exercise.

Key Details

• Transaction date: 2026-02-11.
• Exercise: 984,320 shares exercised at $28.38/share (total cost reported $27,935,002) — transaction code M (option exercise).
• Withholding/sale: 907,653 shares surrendered/disposed at $32.70/share (proceeds $29,675,715) — transaction code F (payment of exercise price or tax liability).
• Net shares retained from this exercise: 76,667 shares (984,320 exercised − 907,653 withheld/sold).
• Footnote: option was immediately exercisable (F1).
• Filing date: 2026-02-13 for transactions on 2026-02-11 — filing appears timely (no late filing flagged).

Context

• This was an options exercise with a cashless-like component: options were exercised and most of the resulting shares were used to satisfy exercise costs/taxes rather than sold as an open-market trade. Codes M = option exercise, F = tax/exercise price withholding.
• Such withholding transactions are common after option exercises and are generally administrative, not necessarily a signal of intent to sell additional shares.