HOROWITZ RICHARD M 4

What Happened

• Richard M. Horowitz, reported as a 10% owner of TRIO-TECH INTERNATIONAL (TRT), exercised derivative securities on 2026-02-17 to acquire 40,056 common shares at $2.64 per share, for a total cash outlay of $105,748. The Form 4 also lists a related derivative conversion/disposition of 40,056 shares reported at $0.00 (no cash proceeds shown).
• This was an exercise/acquisition (code M), i.e., Horowitz paid to convert/options into stock rather than an open-market sale.

Key Details

• Transaction date: 2026-02-17 (Form 4 filed 2026-02-18)
• Exercise price / acquisition price: $2.64 per share
• Shares acquired by exercise: 40,056 — total cash paid $105,748
• Additional line: 40,056 shares shown as disposed/converted at $0.00 (derivative conversion) — Form 4 does not show sale proceeds
• Shares owned after transaction: not disclosed in the provided filing excerpt
• No 10b5-1 plan, tax-withholding, or late-filing flag is indicated in the summary provided

Context

• Code M indicates an option exercise/conversion. The filing shows both the paid exercise and a $0.00 disposition/conversion entry; the Form 4 does not explain whether shares were immediately sold, net-settled, transferred, or used for tax withholding.
• As a 10% owner, Horowitz is a large shareholder; such exercises can be routine (e.g., converting vested options) and do not by themselves indicate a change in personal view of the company.