Chime (CHYM) General Counsel Adam Frankel Exercises Options, Sells Shares

What Happened

• Adam B. Frankel, General Counsel of Chime Financial (CHYM), exercised 60,000 option-based derivative shares on 2026-09-15 at $16.56 per share (exercise cost = $993,600). On the same date he sold two open-market blocks totaling 102,002 shares (86,948 shares at a $33.23 weighted average and 15,054 shares at a $33.78 weighted average), generating roughly $3,397,606 in proceeds. The filing also reports the 60,000 exercised shares as a derivative disposition, which is consistent with an immediate sale/covering of exercised shares or withholding to satisfy exercise/tax obligations.

Key Details

• Transaction date: 2026-09-15; Form 4 filed 2026-09-16 (next-day filing).
• Exercise: 60,000 shares at $16.56 (total cost $993,600).
• Sales: 86,948 shares @ $33.23 (weighted avg; proceeds $2,889,013) and 15,054 shares @ $33.78 (weighted avg; proceeds $508,593). Total sale proceeds ≈ $3,397,606.
• Sales executed pursuant to a Rule 10b5-1 trading plan adopted June 16, 2026 (Footnote F2).
• Price ranges: first sale block ranged $32.760–$33.755; second ranged $33.76–$33.96 (weighted averages reported; full per-trade breakdown available on request) (Footnotes F3, F4).
• Some securities are RSUs and subject to vesting schedules; option vesting schedule referenced (Footnotes F1, F5).
• Shares owned after the reported transactions are not specified in the excerpt provided.

Context

• This sequence (exercise plus contemporaneous sales and a derivative disposition) typically reflects exercising options and then selling shares to cover costs, taxes, or lock in gains; the report itself does not state motivations.
• The use of a 10b5-1 plan means the sales were pre-planned and executed under that trading arrangement — often used to avoid questions about timing.
• For retail investors: purchases generally carry stronger signals than routine option exercises and planned sales. This filing documents realized proceeds for the insider rather than a fresh net purchase of shares.