QuickLogic (QUIK) CTO Timothy Saxe Sells Shares to Cover Taxes

What Happened
Timothy Saxe, Senior Vice President and CTO of QuickLogic (QUIK), sold 15,190 shares in an open-market sale on 2026-09-10 for total proceeds of approximately $164,022 (weighted avg price $10.80). On 2026-09-13 he reported the exercise/conversion of 18,602 derivative shares (acquired) and the simultaneous disposition of the same 18,602 derivative shares (both reported at $0). The 9/10 sale was a disposition (not a purchase) and appears to have been a routine tax-related sale rather than a market-timing buy.

Key Details

• Transaction dates and amounts:
  • 2026-09-10: Open-market sale — 15,190 shares at weighted average $10.80; proceeds $164,022. (Prices in the sale ranged $10.485–$11.212; weighted avg reported.)
  • 2026-09-13: Exercise/conversion (code M) — 18,602 shares acquired at $0 and 18,602 shares disposed at $0 (derivative conversion/settlement).
• Reason noted: Footnote states the shares sold were to cover taxes from restricted stock units (RSUs) that vested on 2026-09-02.
• RSU vesting schedule (from filing): 50% vests after 1 year and the remaining 50% after 2 years from issuance, subject to continued employment.
• Shares owned after the transactions: not specified in the provided filing.
• Filing date: Form 4 filed 2026-09-14. Based on transaction dates, the filing appears to be timely (not marked late).

Context
The 9/13 entries show an exercise/conversion of derivative awards with an immediate disposition of the same shares at $0; this is consistent with conversion/settlement of vested awards and immediate transfer/withholding rather than a market sale for cash. Footnote confirmation that the 9/10 sale was to cover taxes on vested RSUs indicates this was a routine tax-withholding disposition rather than an independent sell decision. Purchases are typically more informative about insider conviction; here the activity reflects compensation settlement and tax-related selling.