Mann Paul Elliot 4

What Happened

• Mann Paul Elliot (Chairman & CEO, Director) was granted a restricted stock award of 2,233,555 shares on 2026-05-28 and sold a total of 251,275 shares across three open-market transactions on June 1–3, 2026. The sales generated aggregate proceeds of about $2,004,337 (83,758 shares on 6/1 for $660,013; 83,758 shares on 6/2 for $694,354; 83,759 shares on 6/3 for $649,970). The award vests in four equal installments over one year beginning March 1, 2026 (see footnote F1).

Key Details

• Transaction dates & amounts:
  • 2026-05-28: Award of 2,233,555 shares (restricted stock) — F1 (vesting schedule).
  • 2026-06-01: Sold 83,758 shares at a weighted avg $7.88 — proceeds $660,013 (F3: underlying sale prices ranged $7.49–$8.14).
  • 2026-06-02: Sold 83,758 shares at a weighted avg $8.29 — proceeds $694,354 (F4: range $7.81–$8.52).
  • 2026-06-03: Sold 83,759 shares at a weighted avg $7.76 — proceeds $649,970 (F5: range $7.53–$8.13).
• Sales were "sell to cover" transactions executed under a Rule 10b5-1 trading plan adopted 12/30/2025 to cover tax withholding related to quarterly vesting (F2).
• Shares owned after these transactions: not specified in the provided filing.
• Filing info: Form filed 2026-06-03 (covers 05-28 award and 06-01–06-03 sales). The 05-28 award appears reported more than two business days after the grant date, which may indicate a late report for that award.

Context

• These sales were executed under a pre-established 10b5-1 plan to cover tax obligations tied to vesting, which is a common reason for insider sales and typically treated as routine rather than a directional signal. The award itself vests over the coming year in quarterly (four equal) installments.