Clifford Tracy Simmons 4

What Happened

• Clifford Tracy Simmons, Chief Financial Officer of Acorn Energy, exercised 1,875 stock options on June 23, 2026. The exercise had an aggregate exercise price of $8,400 (1,875 × $4.48).
• As part of a net share settlement, 515 shares were withheld to cover the exercise price/tax liability at a fair market value of $16.33 per share (515 × $16.33 = $8,410). Net shares delivered to the reporting person = 1,360 (1,875 − 515).
• This was an option exercise (acquisition of shares through exercising options), not an open-market sale. The filing was submitted the next day (6/24/2026).

Key Details

• Transaction date: 2026-06-23; filing date: 2026-06-24 (timely).
• Option exercise (code M): 1,875 shares exercised at $4.48 each; aggregate exercise price $8,400.
• Tax/exercise withholding (code F): 515 shares withheld/disposed at $16.33 FMV; value ≈ $8,410.
• Derivative cancellation: the 1,875 option units were converted/cancelled as part of the exercise (reported as disposed at $0 for the derivative instrument).
• Net shares received by insider: 1,360 shares.
• Footnote: F1 indicates a net share (cashless) settlement — issuer delivered shares less the number needed to cover the exercise price/taxes.
• Shares owned after the transaction: not specified in the data provided here (see the Form 4 for complete holdings).

Context

• This was a cashless/net-share settlement of stock options: the insider exercised options and had a portion withheld rather than paying cash to cover exercise costs and taxes.
• Such exercises are routine for employees with option grants; they represent acquisition of company stock via exercise rather than an open-market purchase.