Raykov Rosty 4

What Happened

• Director Rosty exercised stock options and received vested shares, then sold a portion of shares. Specifically, on 2026-06-01 he exercised 15,597 options at $2.45 each (cost ≈ $38,213) and on the same day sold 9,747 shares in the open market at $9.62 each (proceeds ≈ $93,766). Additionally, on 2026-05-31, 2,778 restricted shares were released to him (no cash paid).

Key Details

• Transaction dates and prices:
  • 2026-05-31: 2,778 shares released from restriction (awarded 5/16/2024) — $0.00 per share.
  • 2026-06-01: Exercised 15,597 options at $2.45 (acquired; total cost ≈ $38,213).
  • 2026-06-01: Sold 9,747 shares at $9.62 (proceeds ≈ $93,766).
• Footnotes of note:
  • The exercise and sale were executed pursuant to a 10b5‑1 plan adopted September 19, 2025.
  • The sale of 9,747 shares was to satisfy tax obligations related to the option exercise.
  • The 2,778 shares were a release of previously awarded restricted shares.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timeliness: Form 4 was filed 2026-06-02 covering transactions on 2026-05-31 and 2026-06-01 (appears timely).

Context

• This was an option exercise followed by a sale to cover tax obligations under a pre-established 10b5‑1 trading plan — a common, non-discretionary arrangement that indicates the sale was planned ahead rather than an ad‑hoc market-timing decision.
• The vested-share release (award vesting) is not a market signal of intent; the open-market sale chiefly served to meet tax withholding from the exercise.