Coldani Steven M. 4

What Happened

• Director Steven M. Coldani exercised derivative securities (transaction code M) on February 12, 2026. The filing shows an acquisition of 2,500 shares at an exercise price of $24.40 per share (total $61,000) and a simultaneous reported disposition of 2,500 derivative shares at $0.00.
• The acquisition (cash outlay) is a purchase-like event (exercising options), while the matching disposal of 2,500 derivative shares likely reflects a conversion/surrender related to the exercise. The filing does not show an open‑market sale of the newly acquired shares.

Key Details

• Transaction date: 2026-02-12 (reported on Form 4 filed 2026-02-13; timely filing).
• Acquired: 2,500 shares at $24.40 each — total $61,000 (code M: exercise/conversion of derivative).
• Disposed: 2,500 derivative shares at $0.00 (reported as a disposition of derivative securities).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnote: These options were exercisable in four equal annual installments beginning February 21, 2019.
• No 10b5-1 plan, tax withholding, or late-filing flag indicated in the provided data.

Context

• For retail investors: code M indicates an option exercise or conversion of a derivative. Reports that show both an acquisition and an equal disposition on the same date often reflect a net exercise, share surrender to cover exercise costs or taxes, or conversion mechanics — the Form 4 here does not detail which method was used.
• This is an insider exercising compensation-related derivative securities; such events are routine and do not alone indicate a change in the company’s outlook.