Foster-Cheek Kaye I 4

What Happened Kaye Foster‑Cheek (Director) reported several derivative and award transactions dated June 18, 2026. She (1) exercised/converted 2,816 derivative units (reported as M) and a corresponding 2,816-share derivative disposition, and (2) acquired awards/stock units totaling 2,927 shares (vested/settled) and 14,950 shares (new grant/award). All transactions show an acquisition price of $0. Total reported share counts from these lines sum to 20,509 shares/units (values reported as $0).

Key Details

• Transaction date: June 18, 2026; filing date: June 23, 2026 (period of report 2026-06-18).
• Reported prices and values: $0.00 per share for all items; total reported cash value $0.
• Specific line items:
  • Exercise/conversion (M): 2,816 shares acquired; 2,816 shares disposed (derivative).
  • Grant/award (A): 2,927 shares acquired (vested RSUs from 6/18/2025).
  • Grant/award (A): 14,950 shares acquired (new awards/options granted 6/18/2026).
• Shares owned after these transactions: not disclosed in the provided filing excerpt.
• Relevant footnotes:
  • F1: Each restricted stock unit (RSU) represents a contingent right to one share.
  • F2: The 2,927 RSUs were granted 6/18/2025 and vest in full 6/18/2026; vested shares to be delivered within three business days after vesting.
  • F3: The 14,950 stock units were granted 6/18/2026 and vest in full 6/18/2027.
  • F4: Options were granted 6/18/2026 and vest 100% on 6/18/2027.
• No 10b5‑1 plan, tax‑withholding details, or late‑filing flag were provided in the excerpt.

Context

• These transactions are award/derivative related (vesting/settlement and new grants), not open‑market purchases or sales; such award activity typically reflects equity compensation rather than a market sentiment trade.
• The exercise/conversion plus immediate disposition of 2,816 derivative shares likely reflects a settlement/processing event (e.g., conversion and transfer/withholding) as reported; the filing does not specify a cash sale.
• For retail investors: awards and option grants increase potential future share supply when they vest/exercise; they are compensation events and should be interpreted differently than an insider buying or selling shares in the open market.