ABADIN RAMON 4

What Happened

• Director Abadin Ramon exercised stock options and sold shares on May 14, 2026. He exercised two option lots (5,000 shares at $7.50 and 4,000 shares at $11.35), paying $37,500 and $45,400 respectively (total cost $82,900) to acquire 9,000 shares. The filing shows an open‑market sale of 9,000 shares at a weighted price of $18.21 for total proceeds of $163,890.
• The Form 4 also reports two entries showing 5,000 and 4,000 shares "disposed" at $0.00 in connection with the derivative transactions — reported as part of the exercise/conversion activity.

Key Details

• Transaction date: 2026-05-14 (filed 2026-05-15 — timely).
• Acquisitions: 5,000 shares @ $7.50 = $37,500; 4,000 shares @ $11.35 = $45,400 (total 9,000 shares acquired).
• Sale: 9,000 shares sold @ weighted $18.21 = $163,890 (prices in sale ranged $18.20–$18.30 per footnote).
• Filing footnote: weighted sale price; reporter can provide breakdown of shares sold at each price on request.
• Shares owned after the transaction: not reported in the extract provided.
• Transaction codes: M = exercise/conversion of derivative (options); S = open market sale.

Context

• This is an option exercise plus immediate sale of shares — a common pattern when insiders exercise options and sell shares to cover exercise costs or taxes (often described as a cashless or simultaneous transaction). The $0.00 disposals reported for the derivative entries likely reflect shares surrendered/withheld in connection with the exercise (e.g., to cover exercise price or tax withholding), as commonly seen in such filings.
• Facts only — the filing shows activity and proceeds, not the insider’s motivation. Purchases (option exercises) and sales were completed the same day.