Ehrlichman Matt 4

What Happened

• Matt Ehrlichman (identified as a 10% owner) received two types of equity awards on April 7, 2026: 226,355 restricted stock units (RSUs) under the 2026 long-term equity incentive program and 71,474 shares granted for above-target 2025 annual bonus achievement — a total of 297,829 shares awarded (acquired at $0.00 per share).
• On the same date he disposed of 3 lots totaling 71,167 shares in open-market/private sales: 18,983 shares, 24,996 shares and 27,188 shares. The filing reports a weighted-average sale price of $7.19 (individual trades ranged $7.19–$7.27) for aggregate proceeds of about $511,613.
• The three sales were required sell-to-cover transactions (no discretion by the reporting person) to satisfy tax withholding triggered by the vesting/settlement of previously granted RSUs.

Key Details

• Transaction date(s): April 7, 2026 (filed on April 9, 2026 — filing appears timely).
• Awards received: 226,355 RSUs (2026 LTIP; 48‑month vesting schedule) and 71,474 shares for above-target 2025 bonus.
• Shares sold: 71,167 shares in three required sell-to-cover transactions; weighted-average price $7.19; proceeds ≈ $511,613. Reported per-share prices ranged $7.19–$7.27.
• Shares owned after transaction: Not specified in the filing; the filing notes some issuer common stock is held by West Equities, LLC over which Ehrlichman has sole voting and dispositive power.
• Notable footnotes: Sales were mandatory sell-to-cover for tax withholding related to RSU vesting (footnotes F3, F5, F6). The newly granted RSUs vest over 48 months with 25% after 12 months then periodic installments (footnote F1). One grant reflects above-target bonus stock (footnote F2).

Context

• Awards (A) here are equity grants/RSUs — these are not cash purchases and indicate compensation rather than a market purchase signal. Sales (S) were sell-to-cover tax withholdings, a common administrative step when RSUs vest; such sales are generally routine and do not necessarily indicate the insider is reducing an economic stake.
• As a 10% owner, Ehrlichman’s filings reflect both his ownership/control and his compensation-related equity activity; retail investors typically view outright purchases as more informative than routine sell-to-cover transactions.