Raykov Rosty 4

What Happened

• Director Rosty Raykov reported a combination of award release, option exercise and share sales. On 2026-03-31, 5,208 previously awarded restricted shares were released (no cash cost). On 2026-04-01 he exercised 15,598 options at $2.45 per share (cost $38,215). Also on 2026-04-01 he sold 10,946 shares in the open market at $6.31 per share for proceeds of $69,069. The filings include an M-code derivative entry associated with the option exercise.

Key Details

• Transaction dates and prices:
  • 2026-03-31: Award release — 5,208 shares at $0.00 (F1).
  • 2026-04-01: Option exercise — 15,598 shares @ $2.45; cash paid $38,215 (F2, F4).
  • 2026-04-01: Open-market sale — 10,946 shares @ $6.31; proceeds $69,069 (F3).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Notable footnotes:
  • F1: Shares released from prior awards (3/31/2023 and 5/16/2024).
  • F2/F4: Option exercise and related actions were pursuant to a 10b5-1 trading plan adopted Sept 19, 2025.
  • F3: Shares were sold to satisfy tax withholding obligations on the option exercise per the 10b5-1 plan.
• Filing date/timeliness: Form 4 was filed 2026-04-02 (covers transactions on 3/31 and 4/1); filing appears timely.

Context

• The M-code entries indicate option exercises (conversion of derivatives into shares). Part of the shares acquired via exercise were sold shortly after to cover tax obligations under a pre-established 10b5-1 plan — a routine, non-disclosive use of proceeds rather than a pure market-timing sale. The 3/31 award release represents vesting or release of previously granted restricted shares, not a new grant. No total post-transaction ownership was provided, so this summary focuses on the amounts exercised, vested, and sold as reported.