SMIT ERIC 4

What Happened
Eric Smit, Chief Financial Officer of EGAIN Corp (EGAN), exercised options to acquire 5,000 shares at $2.50 per share (cost $12,500) on February 2, 2026, and sold 5,000 shares the same day in an open-market transaction at $10.25 per share for proceeds of $51,250. The filing also reports a separate derivative conversion/disposition of 5,000 shares at $0.00 on the same date.

Key Details

• Transaction date: 2026-02-02.
  • Exercise (code M): 5,000 shares @ $2.50 = $12,500 (acquired).
  • Sale (code S): 5,000 shares @ $10.25 = $51,250 (disposed).
  • Derivative conversion/disposition (code M): 5,000 shares @ $0.00 = $0 (disposed).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnotes:
  • F1: The sale was made pursuant to a Rule 10b5-1 trading plan adopted March 8, 2024.
  • F2: The reported options represent rights to purchase a total of 112,000 shares, exercisable since Sept. 19, 2017 and now fully vested.
• Filing timeliness: Form 4 was filed Feb 4, 2026 for transactions on Feb 2, 2026 (appears timely, within the standard two-business-day window).
• Transaction codes: M = option exercise/conversion, S = sale.

Context
The sequence—exercising options and selling shares the same day—commonly indicates the insider monetized vested options (often to cover exercise costs or taxes). The reported 5,000-share disposition at $0.00 is recorded in the filing but not explained; such entries can reflect settlement or internal accounting related to option exercises. The sale was executed under a pre-established 10b5-1 plan, which sets predetermined trading terms and timing.