Kenny Richard Francis 4

What Happened
Kenny Richard Francis, a director of Plumas Bancorp (PLBC), exercised stock options on 2026-03-19 to acquire 2,000 shares at an exercise price of $21.45 per share for a total cash cost of $42,900. The same filing also reports a related derivative disposition of 2,000 units at $0.00 (reported as a derivative conversion/disposition).

Key Details

• Transaction date: 2026-03-19 (reported on Form 4 filed 2026-03-20)
• Acquisition: 2,000 shares at $21.45 each; total $42,900 (transaction code M = option exercise)
• Disposition: 2,000 derivative units reported at $0.00 (also coded M) — filing does not specify consideration for this disposition
• Shares owned after transaction: Not specified in the provided filing excerpt
• Footnote: Options are exercisable in four equal annual installments beginning October 21, 2020 (F1)
• Timeliness: Report appears timely (transaction 3/19/2026; Form 4 filed 3/20/2026)

Context
Transaction code M indicates option exercise/derivative conversion. The paired acquisition and $0.00 derivative disposition could reflect a conversion/surrender step (for example, to satisfy withholding or to convert derivative units into common shares), but the filing does not state the purpose or any cash proceeds for the disposition. Exercises are acquisitions (a bullish signal in that the insider added shares), but filings alone do not explain the insider’s motivation.