LIN CHUANG I 4

What Happened
Director Lin Chuang executed a cashless option exercise and sale on May 7, 2026. He exercised 10,000 stock options at $18.25 per share (cost $182,500) and immediately sold 10,000 shares in the open market at $24.23 per share for proceeds of $242,346. The transaction was reported as a cashless exercise and sale (exercise code M, sale code S).

Key Details

• Transaction date: 2026-05-07 (filed 2026-05-08). Filing appears timely.
• Exercise: 10,000 options exercised at $18.25 each (total $182,500).
• Sale: 10,000 shares sold at $24.23 each (gross proceeds $242,346).
• Net difference (proceeds minus exercise cost): ~$59,846 (before commissions/taxes).
• Shares owned after transaction: Not specified in the excerpt provided.
• Footnotes from the filing:
  • F1: Options vested in three equal annual installments beginning one year after 05/17/2016.
  • F2: No expiration date once restricted stock units vest.
  • F3: Remaining restricted stock units vest on 05/21/2026.
• Remark in filing: This was reported as a cashless exercise of 10,000 options and the sale of the issued shares.

Context
A cashless exercise means the options were converted into shares and those shares were sold immediately (commonly to cover the exercise price and any tax withholding). This is a routine insider liquidity event rather than a fresh purchase; sales do not necessarily indicate a negative view of the company. Transaction codes: M = option exercise/conversion, S = sale of securities.