ADPT Director Robert Hershberg Exercises Options, Sells Shares

What Happened
Robert Hershberg, a director of Adaptive Biotechnologies (ADPT), exercised options and sold shares on August 18, 2026. He exercised 15,000 options at $6.32 per share (cost $94,800) and sold a total of 30,664 shares in open-market transactions (15,000 shares at a $24.39 weighted average for $365,850; 15,664 shares at a $24.41 weighted average for $382,358), generating total gross proceeds of about $748,208. The filing also reports a 15,000-share derivative disposition reported at $0.00. Net of the $94,800 exercise cost, the cash difference on these transactions is roughly $653,408.

Key Details

• Transaction date: August 18, 2026; Form 4 filed August 20, 2026 (within the two-business-day reporting window).
• Acquired (M): 15,000 shares @ $6.32 (total $94,800).
• Sold (S): 15,000 shares @ $24.39 (weighted avg; range $24.38–$24.43) — $365,850.
• Sold (S): 15,664 shares @ $24.41 (weighted avg; range $24.40–$24.44) — $382,358.
• Reported derivative disposition: 15,000 shares @ $0.00 (see footnote).
• Footnotes: F1/F2 note weighted-average sale prices and multiple trade prices within the listed ranges; F3 notes the option was fully vested and would have expired Oct 18, 2026.
• Shares owned after transaction: Not provided in the excerpt of the filing.

Context
This sequence (option exercise followed by immediate open-market sales) is commonly a cashless or partially cashless exercise pattern: the insider exercises vested options and then sells shares. Sales are routine insider transactions and do not, by themselves, indicate the insider’s long-term view of the company. The filing appears timely (filed two days after the transaction date).