HARRISON MARK MALLOY 4

What Happened
Director Mark Malloy exercised stock options on March 20, 2026. The filing shows he acquired 2,000 shares at an exercise price of $11.86 (total cost $23,720). The same filing also reports 2,000 shares disposed of at $0 (reported as a derivative disposition), meaning no cash proceeds were recorded for those shares.

Key Details

• Transaction date: 2026-03-20 (reported on Form 4 filed 2026-04-15). Filing appears late relative to the trade date.
• Transactions: Code M (exercise/conversion of derivative)
  • Acquired 2,000 shares @ $11.86 — $23,720 total paid.
  • Disposed 2,000 shares @ $0 — $0 proceeds (derivative disposition; not an open-market sale).
• Shares owned after transaction: not specified in the data provided in this summary (see full Form 4 for post-transaction holdings).
• Relevant footnotes:
  • F3: The options vested 20% per year beginning Nov 11, 2021 and were fully vested and exercisable as of Nov 11, 2025.
  • Other footnotes (F1, F4, F5) describe separate grants/vesting schedules; F2 notes 1,822 shares held jointly by the reporting person's spouse with her parents.
• Timeliness: Reported about 26 days after the transaction (filed 2026-04-15 for a 2026-03-20 transaction) — appears to be a late filing.

Context

• For option exercises, acquisitions often reflect exercising vested options; the 2,000 shares acquired were purchased at the stated exercise price.
• The 2,000 shares reported as disposed at $0 indicate those shares were surrendered or otherwise used in connection with the exercise (e.g., net-share settlement or withholding), not sold on the open market for cash — the filing does not specify the exact reason.
• This is a derivative exercise by an insider (director), not a 10% owner institutional trade. For exact holdings and further detail, consult the full Form 4 (accession 0001437749-26-012438).