FELMAN MICHELLE 4

What Happened

• Michelle Felman, a director of Acacia Research Corporation (ACTG), received a grant of 25,052 restricted common shares on June 23, 2026. The shares were awarded at $0.00 (i.e., an equity award rather than a purchase), so no cash was exchanged in this transaction. This is an equity compensation award to a non-employee director, not an open-market buy or sale.

Key Details

• Transaction date: June 23, 2026; Form 4 filed: June 25, 2026 (appears timely).
• Shares granted: 25,052 restricted shares; reported acquisition price: $0.00.
• Shares owned after transaction: Not specified in the provided filing information.
• Footnote: The grant was made under the 2024 Acacia Research Corporation Stock Incentive Plan as the company's annual grant to non-employee directors. 100% of the restricted stock vests on the first anniversary of the grant date.
• No tax withholding, sale, or 10b5-1 plan was reported in the provided details.

Context

• Restricted-stock awards to directors are common as part of board compensation and typically vest over time; they are routine and do not by themselves signal insider buying or selling intent. Because this was an awarded grant (not a purchase), it reflects compensation rather than a market investment by the insider.