Diiorio Lisa A 4

What Happened

• Lisa A. Diiorio, First Senior Vice President & Chief Accounting Officer, exercised 6,000 stock options on 2026-05-01 at an exercise price of $13.00 per share, paying $78,000. To satisfy tax withholding, 3,879 of the newly issued shares were withheld/treated as disposed at $23.72 each (value $92,010). The related option instrument was extinguished as part of the exercise. Net new shares delivered to her: 2,121 (6,000 exercised − 3,879 withheld).
• This is an option exercise (acquisition) with routine tax withholding (disposition), not an open-market buy or discretionary sale.

Key Details

• Transaction date: 2026-05-01; Form 4 filed 2026-05-05.
• Exercise: 6,000 shares acquired at $13.00/share = $78,000 (transaction code M).
• Tax withholding: 3,879 shares disposed at $23.72/share = $92,010 (transaction code F).
• Derivative/option instrument: 6,000 options reported as converted/disposed (reported $0 value).
• Net shares received: 2,121.
• Shares owned after transaction: Not specified in the supplied filing details.
• Footnote: F1 — Options granted under the 2013 Stock Option Plan are fully vested and exercisable.
• Filing timeliness: Reported on 2026-05-05 for a 2026-05-01 transaction; the filing does not indicate a late-report flag in the provided details.

Context

• This appears to be a cashless/net-share settlement of an option exercise: shares were issued on exercise and a portion withheld to cover tax obligations. Such withholding is a routine administrative step and does not necessarily signal the insider is reducing their overall stake in the company beyond the withheld portion.
• Purchases or exercises that result in net share increases (here, +2,121 shares) are generally more informative to investors than routine withholdings, but do not alone indicate the insider’s view of the company’s prospects.