BRODY MARK S 4

What Happened

• Director Mark S. Brody exercised 1,600 shares of derivative securities (options) at $15.70 each (cost $25,120) on 2026-05-27 and sold the resulting 1,600 shares in the open market the same day for a weighted average price of $55.23, generating gross proceeds of about $88,376. The filing shows a derivative conversion entry related to the exercise.

Key Details

• Transaction date: 2026-05-27 (Filed on Form 4: 2026-05-29)
• Exercise price / cash paid: $15.70 per share; total = $25,120
• Sale price (weighted average): $55.23 per share; total proceeds ≈ $88,376 (executed in multiple trades at $55.22–$55.25)
• Shares owned after transaction: filing remarks list total beneficial ownership of 280,144 shares
• Notable footnotes: 113,854 shares are beneficially owned by Dr. Brody (40,160 jointly with spouse); some shares are in a master account where he has dispositive but not voting power; a small Computershare account has upcoming vesting; earlier vesting schedule items are noted
• Timeliness: Form 4 was filed two days after the transaction date (within standard Form 4 timing); no late filing flag indicated

Context

• This was an option exercise followed by an immediate sale — commonly called a cashless exercise — where the insider converts options to shares and sells them rather than holding the newly issued stock. This report documents a sale (not a purchase), so it is typically viewed as a liquidity/compensation action rather than a direct bullish signal.