Eva Live (GOAI) CEO David Boulette Exercises Options, Receives Award

What Happened
CEO David Boulette exercised 4,000,000 stock options on Feb 17, 2026 at an exercise price of $0.10 per share (cash paid $400,000) under the company’s executive options plan. The filing also reports that on June 10, 2026 he acquired 202,947 shares issued as compensation for accrued back salary at $2.28 per share (total value ≈ $462,719). The Form 4 was filed on Sep 21, 2026 (see timeliness note below).

Key Details

• Transaction types: M = option exercise (4,000,000 shares at $0.10 on 2026-02-17); A = award/grant (202,947 shares at $2.28 on 2026-06-10).
• Cash paid for option exercise: $400,000. Cash-equivalent value of salary shares: ≈ $462,719.
• Footnote highlights: the 4,000,000 options exercised were part of a May 31, 2025 grant of 20,000,000 options with vesting 20% cliff on Jan 1, 2026 and 20% each May 31 in 2026–2029. Employment agreement does not specify an explicit expiration date for vested options while employed. The 202,947 shares were issued by board resolution to settle accrued back salary.
• Shares owned after transaction: not specified in the provided excerpt.
• Timeliness: Form 4 filed Sep 21, 2026 for a Feb 17, 2026 transaction — reported late (~7 months). Late filings reduce the immediacy of the insider signal and may carry regulatory attention.

Context

• The Feb 17 entry shows both acquisition of common shares through exercise and a corresponding “disposition” of the derivative instrument (typical reporting when options are converted to shares). This was not reported as a sale of the underlying shares—Boulette paid the exercise price to acquire the shares.
• The June 10 issuance was compensation (award) for back pay, not an open-market purchase; such grants reflect corporate compensation decisions rather than direct market buying by the insider.
• No 10b5-1 plan, cashless sale, or tax-withholding details were disclosed in the provided notes.