Bibisi Ray Michael 4

What Happened

• Bibisi Ray, President and COO of RF Industries (RFIL), had a total of 318 shares withheld to satisfy tax and/or exercise obligations related to derivative activity. The filing shows three withholding dispositions (transaction code F), not open-market sales, with a combined value of approximately $5,349.
• Breakdown: 20 shares at $17.43 ($349) and 182 shares at $17.43 ($3,172) on 2026-07-11; and 116 shares at $15.76 ($1,828) on 2026-07-13.

Key Details

• Transaction dates & prices: 2026-07-11 — 20 @ $17.43 ($349) and 182 @ $17.43 ($3,172); 2026-07-13 — 116 @ $15.76 ($1,828).
• Total shares withheld: 318; total consideration shown: $5,349.
• Transaction code F = payment of exercise price or tax liability by surrendering shares (share withholding). These are dispositions to cover taxes/exercise costs, not third‑party sales.
• Filing: Form 4 filed with accession 0001437749-26-023535 on 2026-07-14. The filing does not indicate it was late.
• Shares owned after the transactions: not specified in the provided excerpt of the filing.

Context

• Withholding to cover taxes or exercise costs is a common, routine outcome when options vest or are exercised; it generally does not reflect an intent to liquidate a position on the open market.
• This filing reflects derivative/compensation-related activity (shares surrendered to meet obligations), not a discretionary sale or purchase.