Osterer Michael 4

What Happened
Michael Osterer, a director of Acorn Energy (ACFN), exercised stock options on 2026-02-05 to acquire 625 common shares at an exercise price of $4.96 per share, for a total cash payment of $3,100. The Form 4 also records a simultaneous disposition entry for 625 derivative shares at $0, reflecting the conversion/elimination of the option instrument upon exercise. This was an option exercise (code M), not an open‑market sale — he acquired shares by paying the exercise price.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (filing appears timely).
• Acquired: 625 shares at $4.96 each — total cash paid $3,100.
• Disposed: 625 derivative units at $0 (reflects the option being exercised/converted).
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: Mr. Osterer shares voting and dispositive power over these securities.
  • F2: Options were granted 2/5/2019 under the issuer’s Amended and Restated 2006 Stock Incentive Plan.
  • F3: Vesting schedule: one-fourth vested on each of 2/5/19, 4/1/19, 7/1/19 and 10/1/19 (i.e., options were fully vested in 2019).

Context: This was an exercise of previously granted options (not a cashless exercise or immediate sale of the newly issued shares per the record). Exercises convert option interests into shares; the $0 disposition line is an administrative reporting entry showing the option ceased to exist. No indication of a 10% owner transaction or gift; the action is simply an insider exercising vested options.