Capital Bancorp (CBNK) Director Deborah Ratner Salzberg Exercises Options

What Happened
Deborah Ratner Salzberg, a director of Capital Bancorp, exercised stock options on 2026-09-25. She acquired 1,800 shares via option exercise (reported at $26.41 per share, total value $47,538). To satisfy tax withholding, 1,322 of those shares were surrendered/disposed at $35.98 per share (value ~$47,566). The filing also shows the underlying derivative (the options) was converted/disposed (reported $0), which is the technical step when options are converted into shares. Net result: +478 shares retained by the insider after withholding.

Key Details

• Transaction date: 2026-09-25; Form 4 filed 2026-09-28 (timely filing).
• Exercise (M): 1,800 shares acquired @ $26.41 — $47,538 reported.
• Tax/payment withholding (F): 1,322 shares disposed @ $35.98 — ~$47,566 surrendered to cover tax/withholding.
• Derivative conversion (M): 1,800 option units reported disposed @ $0 (reflects the options converting into shares).
• Net change: +478 shares (1,800 acquired minus 1,322 withheld).
• Shares owned after transaction: not stated in the provided filing text.
• Relevant footnotes in the filing: F1 — options vest in four equal annual installments beginning on the first anniversary of grant; F2 — each RSU equals one share; F3 — an RSU grant vests 3/2/2027.
• No indication this was a 10b5-1 plan; this appears to be a routine exercise with tax withholding.

Context
This was an options exercise with shares withheld to cover tax obligations (a common “cashless” style outcome). That means the insider converted options to stock and surrendered a portion to satisfy taxes — not an outright market sale for investment reasons. Such tax-withholding dispositions are routine and do not by themselves indicate a change in the insider’s view on the stock.