ADELMAN JASON T 4

What Happened

• Jason T. Adelman, a director of TRIO-TECH INTERNATIONAL (TRT), reported exercising options to acquire 70,000 shares on 2026-06-23 at an exercise price of $3.11 per share (cost = $217,700). He also reported open-market sales of 5,000 shares on 2026-06-18 at $15.84 ($79,200) and 5,000 shares on 2026-06-19 at $14.88 ($74,400), for total sale proceeds of $153,600.
• The Form 4 also shows a derivative disposition of 70,000 shares on 2026-06-23 at $0.00 (derivative code M), which is typically reported when shares from an exercise are converted or immediately disposed of as part of the exercise/settlement process.

Key Details

• Transaction dates and amounts:
  • 2026-06-18: Sold 5,000 shares @ $15.84 — $79,200 (open-market sale, code S)
  • 2026-06-19: Sold 5,000 shares @ $14.88 — $74,400 (open-market sale, code S)
  • 2026-06-23: Exercised options to acquire 70,000 shares @ $3.11 — $217,700 (code M)
  • 2026-06-23: Disposition of 70,000 derivative shares @ $0.00 (code M)
• Shares owned after the transactions: not disclosed in the information provided in this summary (check the full Form 4 for post-transaction holdings).
• Notable items: the zero-dollar derivative disposition reported same day as the exercise is commonly associated with a cashless exercise or immediate disposition/settlement of the exercised shares.
• Timeliness: The Form 4 was filed on 2026-06-23 for transactions beginning 2026-06-18; the earlier 6/18 and 6/19 sales were reported with a filing date later than those trade dates (filing flagged as late for those earlier transactions).

Context

• Exercise of options is an acquisition (could be viewed as a bullish action), but when an exercise is followed by an immediate disposition or a $0.00 derivative disposition, the net change in the insider’s economic exposure may be limited (this filing shows both an exercise and an associated derivative disposition on the same day).
• Open-market sales (the 10,000 shares sold on 6/18–6/19) are often routine liquidity events for insiders; they do not necessarily indicate a change in view about the company.
• For full details and exact post-transaction holdings, consult the complete Form 4 filing (Accession No. 0001247604-26-000009).