Lucareli Michael B 4
4 · MODINE MANUFACTURING CO · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Modine (MOD) CFO Michael Lucareli Exercises Options, Sells Shares
What Happened
Michael B. Lucareli, EVP and CFO of Modine Manufacturing Co. (MOD), exercised 19,595 option-derived shares at $6.62 per share (cost $129,719) on Feb 17, 2026, and immediately sold the same 19,595 shares in multiple open-market transactions for aggregate proceeds of approximately $4,293,671. The filings show the exercise/conversion (transaction code M) and multiple sales (transaction code S) on the same date — consistent with an option exercise followed by immediate sale of the resulting shares.
Key Details
- Transaction date: 2026-02-17 (reported 2026-02-18 — timely filing).
- Option exercise: 19,595 shares @ $6.62 = $129,719 (Acquired).
- Open-market sales (total sold = 19,595 shares; total proceeds ≈ $4,293,671):
- 4,478 shares @ $217.15 (weighted avg; trades ranged $216.71–$217.63) = $972,418.
- 5,097 shares @ $218.16 (weighted avg; ranged $217.72–$218.6650) = $1,111,982.
- 2,284 shares @ $219.19 (weighted avg; ranged $218.74–$219.70) = $500,628.
- 3,326 shares @ $220.49 (weighted avg; ranged $219.89–$220.88) = $733,365.
- 4,356 shares @ $221.14 (weighted avg; ranged $220.89–$221.55) = $963,289.
- 54 shares @ $222.01 = $11,989.
- A second derivative line reports 19,595 shares disposed at $0.00 (reported as M); this reflects the exercise/conversion reporting mechanics on the Form 4.
- Shares owned after the transaction: not specified in the excerpt provided. Footnote: 971 shares are included in Lucareli’s Modine 401(k) account per the filing.
- Footnotes F2–F6 note the reported prices are weighted averages across multiple trades and offer to provide detailed per-trade prices on request.
Context
- This appears to be an option exercise with immediate sale of all resulting shares (commonly a cashless exercise/settlement pattern). Such transactions often cover exercise costs, taxes, and/or are routine liquidity events; they do not by themselves indicate the insider’s long-term view.
- Transaction codes: M = exercise/conversion of derivative (options), S = sale.
- Filing was timely (transaction on Feb 17, filed Feb 18).
Insider Transaction Report
Form 4
Lucareli Michael B
EVP, CFO
Transactions
- Exercise/Conversion
Common stock
[F1]2026-02-17$6.62/sh+19,595$129,719→ 75,173 total - Sale
Common stock
[F2][F1]2026-02-17$217.15/sh−4,478$972,418→ 70,695 total - Sale
Common stock
[F3][F1]2026-02-17$218.16/sh−5,097$1,111,982→ 65,598 total - Sale
Common stock
[F4][F1]2026-02-17$219.19/sh−2,284$500,628→ 63,314 total - Sale
Common stock
[F5][F1]2026-02-17$220.49/sh−3,326$733,365→ 59,988 total - Sale
Common stock
[F6][F1]2026-02-17$221.14/sh−4,356$963,289→ 55,632 total - Sale
Common stock
[F1]2026-02-17$222.01/sh−54$11,989→ 55,578 total - Exercise/Conversion
Employee stock option (Right to buy)
2026-02-17−19,595→ 0 totalExercise: $6.62From: 2024-10-02Exp: 2030-10-02→ Common stock (19,595 underlying)
Footnotes (6)
- [F1]This total includes 971 units of Modine common stock held in the Reporting Person's Modine 401(k) Retirement Plan account.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $216.71 to $217.63, inclusive. The reporting person undertakes to provide to Modine Manufacturing Company, any security holder of Modine Manufacturing Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $217.72 to $218.6650, inclusive.
- [F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $218.74 to $219.70, inclusive.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $219.89 to $220.88, inclusive.
- [F6]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $220.89 to $221.55, inclusive.
Signature
/s/ Erin J. Roth, Attorney-in-Fact|2026-02-18