ZAMAN WAHEED 4

What Happened Waheed Zaman, a director of Farmer Brothers Co. (FARM), disposed of 104,521 shares on May 5, 2026. The shares were cancelled and converted as part of a merger; the filing shows a disposition to the issuer at $1.29 per share for total proceeds of $134,832. The transaction was effected pursuant to the March 3, 2026 Merger Agreement and was approved by the company’s board as contemplated by Rule 16b-3.

Key Details

• Transaction date: 2026-05-05
• Transaction type/code: Disposition to the issuer (D) in connection with a merger
• Price per share: $1.29
• Shares disposed: 104,521
• Total proceeds: $134,832
• Shares owned after transaction: Not stated in the provided excerpt (shares outstanding were cancelled and converted to cash under the merger)
• Footnote: F1 — Merger Sub merged into the issuer; each pre‑merger common share was cancelled and converted into $1.29 cash; disposition approved by the board per the Merger Agreement and Rule 16b-3
• Filing timeliness: Report filed on 2026-05-05 for a transaction dated 2026-05-05 (appears timely)

Context This was a cash conversion tied to a corporate merger, not an open-market sale by the director. Such merger-driven dispositions are administrative outcomes of the deal (each share was converted into the right to receive $1.29 in cash) and should be viewed differently from discretionary insider sales. Purchases generally carry more weight as a bullish signal; this filing documents the cash-out resulting from the merger.