MICHEL GERARD J 4

What Happened

• Director Michel Gerard received a grant of 16,965 restricted stock units (RSUs) on May 21, 2026. The reported acquisition price is $0.00, so the immediate cash value recorded in the Form 4 is $0. These RSUs were granted under the issuer's 2025 Equity Incentive Plan (see footnote).

Key Details

• Transaction date: 2026-05-21; Report filed: 2026-05-26 (Form 4 accession 0001235644-26-000008).
• Transaction type/code: A — Award/Grant (restricted stock unit award).
• Shares granted: 16,965 RSUs; price per share reported: $0.00; total reported cash value: $0.
• Footnote: F1 — Represents restricted stock unit award granted under the Issuer's 2025 Equity Incentive Plan.
• Shares owned after transaction: Not specified in the provided filing details.
• No indication in the provided data that this was part of a 10b5-1 plan, tax withholding, or a sale; filing timeliness (late/on-time) not indicated here.

Context

• RSU awards are a form of compensation that typically vest over time or upon meeting performance conditions; they do not require the insider to pay cash at grant. They are not an immediate market purchase and therefore are not a direct bullish or bearish trading signal by themselves. For retail investors, such grants are common for executive/director compensation and should be evaluated along with vesting terms, company performance, and total insider holdings if available.