Giancarlo Charles H 4

What Happened

• Giancarlo Charles H, CEO and Director of Everpure (PSTG), reported exercising options on 2026-03-06. The filing shows two option conversions totaling 1,000,000 underlying shares. One exercise resulted in acquisition of 500,000 shares at an exercise price of $12.84 (cost = $6,420,000). The filing also shows 195,177 shares were withheld by the issuer to satisfy tax withholding (value reported at $60.90 each, ~$11,886,279). Another 500,000-share derivative conversion is reported with $0.00 consideration (no cash proceeds shown).
• This activity is primarily an option exercise (M); the withheld shares reported as “disposed” reflect issuer tax withholding and are not a sale by the reporting person (see footnote).

Key Details

• Transaction date: 2026-03-06.
• Reported items:
  • Exercise/acquisition: 500,000 shares @ $12.84 (total exercise cost $6,420,000).
  • Tax withholding: 195,177 shares withheld @ $60.90 (value ~$11,886,279) — withheld by issuer, not a market sale (F1).
  • Additional derivative conversion: 500,000 shares reported as disposed @ $0.00 (no proceeds shown).
• Shares held/ownership after the transaction: not specified in the provided filing.
• Footnotes: F1 clarifies withheld shares were remitted by the issuer to cover tax obligations and do not represent a sale by Giancarlo; F2 notes some shares are held by the Giancarlo Family Trust; F3 indicates the option was fully vested.
• Timeliness: no late-filing flag provided in the materials you supplied.

Context

• This appears to be an option exercise with a net effect that the issuer withheld a portion of shares to cover taxes (a common cashless/net settlement practice). Withheld shares should not be read as an open-market sale by the insider.
• Option exercises are routine for executives and can reflect exercising vested compensation; they are not direct market purchases that signal increased ownership unless accompanied by additional open-market buys.