JOHNSON JOHN 4

What Happened
John Johnson, a director of Axogen, exercised 11,050 stock options on May 7, 2026 at a strike price of $7.04 (cost $77,792) and immediately sold the 11,050 shares in the open market for aggregate proceeds of about $477,968. The sale price reported is a weighted average of $43.26 per share (individual sale prices ranged $43.25–$43.35). The filing also records the related derivative disposition tied to the exercise.

Key Details

• Transaction date: 2026-05-07 (filed with SEC 2026-05-08). Filing appears timely based on provided dates.
• Exercise: 11,050 shares @ $7.04 each; total exercise cost = $77,792.
• Sale: 11,050 shares sold in open market; weighted average sale price = $43.26; gross proceeds ≈ $477,968. (Sales ranged $43.25–$43.35 per F1.)
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: F1 notes the weighted-average sale price and availability of per-trade details; F2 notes all option shares were fully vested as of June 6, 2025.
• Derivative note: the Form 4 shows the option exercise (transaction code M) and the related derivative disposition; this reflects exercising vested options and converting the derivative into common shares.

Context
This is a classic option exercise followed by an immediate sale of the resulting shares (often referred to as a cashless or same-day sell). Sales by directors can be routine liquidity events and do not, by themselves, indicate management sentiment. The material here is factual: exercised options (paid strike) and then sold those shares in the open market the same day.