Schaum Richard O 4

What Happened

• Director Richard O. Schaum exercised/conversion of derivatives and sold shares on 2026-04-30. He exercised 7,000 shares at $15.74 (cost $110,180) and a separate conversion of 7,000 shares reported with $0.00 cash paid. On the same day he disposed of 4,815 shares in an open-market sale for a weighted-average price of $23.31, generating proceeds of about $112,247. Based on the reported trades, he acquired 14,000 shares and sold 4,815 shares, implying a net increase of 9,185 shares (ownership after the transactions is not disclosed in the provided filing).

Key Details

• Transaction date: 2026-04-30.
• Exercises/conversions: 7,000 shares @ $15.74 (total cash paid $110,180); 7,000 shares @ $0.00 (no cash paid).
• Sale: 4,815 shares @ weighted avg $23.31 (reported range $23.30–$23.34) — proceeds ~$112,247. (Footnote: sale executed in multiple trades; $23.31 is weighted average.)
• Shares owned after transaction: not specified in the provided report.
• Filing timeliness: Reported with period/filing date 2026-04-30 (no late-filing flag indicated).
• No 10b5-1 plan, tax withholding, or other special conditions were disclosed in the supplied details.

Context

• Code M indicates exercise or conversion of derivative securities (e.g., options or convertible awards). One exercise required cash ($15.74 strike); the other was recorded at $0.00 (a conversion or no-cash settlement).
• The same-day sale of a portion of shares is common after exercises to cover costs or take gains; it does not necessarily signal a change in long-term view. Purchases or net increases in holdings can be more informative, and here the net reported activity was an increase of 9,185 shares.