Caplan Mark 4

What Happened
Mark Caplan, a director of Capital Bancorp, exercised a total of 1,017 option-based derivatives on April 2, 2026. He acquired 450 shares at $26.41 (value $11,885) and 567 shares at $23.54 (value $13,347), for total consideration of $25,232. To cover taxes/withholding, 837 of the newly issued shares were surrendered/withheld (837 shares @ $30.16, value $25,244). After withholding, Caplan netted 180 shares. The Form 4 shows the related derivative rights (450 and 567 option units) were cancelled in the conversion.

Key Details

• Transaction date: 2026-04-02; Form 4 filed 2026-04-06 (timely filing).
• Acquisitions: 450 shares @ $26.41 = $11,885; 567 shares @ $23.54 = $13,347 (transaction code M = option exercise).
• Withholding/disposition: 837 shares @ $30.16 = $25,244 (transaction code F = payment of exercise price/tax liability).
• Net shares received: 1,017 acquired − 837 withheld = 180 net shares retained.
• Derivative conversion entries (450 and 567 shares @ $0.00) reflect cancellation of the options upon exercise.
• Shares owned after the transaction are not specified in the provided excerpt.
• Relevant footnotes: F1 — options vest in four equal annual installments from grant; F2 — each RSU = 1 share; F3 — RSUs vest on 3/2/2027.

Context
This was an option exercise with shares withheld to satisfy tax/exercise obligations (a common "cashless" or net-share exercise method). Such transactions reflect the conversion of previously granted equity awards and routine tax withholding, and are not, by themselves, a buy/sell signal about the insider’s view of the company.