TALWALKAR ABHIJIT Y 4

What Happened

• Director Abhijit Y. Talwalkar exercised 5,312 stock options at $10.71 per share (exercise cost $56,892) and sold those 5,312 shares in open-market transactions on May 11, 2026 for total proceeds of approximately $626,430. The sales were executed across multiple trades and price points that day. These transactions were effected pursuant to a Rule 10b5-1 trading plan.

Key Details

• Transaction date: May 11, 2026; Form 4 filed May 12, 2026 (timely filing).
• Exercise (derivative): 5,312 shares exercised at $10.71 (total $56,892).
• Open-market sales: 5,312 shares sold in blocks at prices reported from about $115.61 up to $120.53; aggregated sale proceeds ≈ $626,430.
• Shares owned after transaction: not stated in the provided filing excerpt.
• Footnotes: trades were executed under a 10b5-1 plan established May 12, 2025 (F1). Sale price ranges and weighted-average figures are provided in footnotes; the option exercised was part of a grant originally for 21,248 shares (granted May 23, 2016) that vests monthly and expires May 23, 2026 (F6).

Context

• This was an exercise of options immediately followed by sale of the exercised shares (i.e., the shares from the exercised options were sold the same day). That pattern is common for option holders monetizing vested awards and does not, by itself, indicate insider views about the company's prospects.
• The transactions were preplanned under a 10b5-1 plan, which means they were executed according to a previously established trading schedule.