CARRIERI MICHAEL 4

What Happened

• Michael Carrieri, Executive VP of Engineering at NAPCO Security Technologies (NSSC), exercised 10,000 stock options on 2026-02-26 (transaction code M). The exercise price was $22.50 per share (total reported $224,950). To cover the exercise price and tax withholding, 6,651 shares were withheld at a market price of $47.23 per share (transaction code F), valued at $314,127. After withholding, the cashless exercise resulted in a net increase of 3,349 shares (footnote F2).

Key Details

• Transaction date: February 26, 2026. Form filed: February 27, 2026 (timely).
• Exercise price: $22.50 per share for 10,000 options (gross value reported $224,950).
• Withheld for taxes/exercise: 6,651 shares at $47.23 ($314,127).
• Net shares acquired: +3,349 shares (cashless exercise result).
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes: F1 (shares withheld to pay exercise price and taxes under the 2012 Employee Stock Option Plan), F2 (net increase of 3,349 shares), F3 (2,000 shares exercisable Aug 25, 2026–Aug 25, 2032), F4 (other options vest 20% per year starting May 2, 2024).
• Transaction codes: M = option exercise; F = tax withholding.

Context

• This was a cashless exercise of options (not an open-market buy or separate sale). Withholding used company shares to satisfy exercise costs and tax obligations, which is common and results in a smaller net share increase. The withholding used the current market price ($47.23), which is why the withheld shares’ value appears larger than the exercise cost. The filing provides vesting/exercisability details but does not state Carrieri’s total post-transaction ownership.