Dalton Kristen Ann 4

What Happened
Kristen Dalton, President, Brand Tripadvisor, exercised stock options on 2026-01-30 to acquire 1,305 TripAdvisor (TRIP) shares at an exercise price of $13.42 per share, costing $17,513. To satisfy tax withholding, 455 of those shares were withheld (disposed) at the same $13.42 price, valued at $6,106. After withholding, Dalton received a net 850 shares. This transaction is an option exercise (code M) with a tax-withholding disposition (code F) rather than an open-market sale.

Key Details

• Transaction date: 2026-01-30; filing date: 2026-02-03 (timely filed).
• Exercise: 1,305 shares @ $13.42 = $17,513 (code M).
• Tax withholding: 455 shares withheld @ $13.42 = $6,106 (code F).
• Net shares issued to insider: 850 shares (1,305 − 455).
• Filing shows an option conversion/derivative reporting line; the exercise appears to have been settled by issuing shares with partial share surrender to cover taxes (common practice).
• No 10b5-1 plan or late-filing flag noted in the provided data.

Context
This was an option exercise (not an open-market sale); withholding shares for taxes is routine and doesn't necessarily indicate buy/sell intent. The transaction value is modest (~$17.5K gross exercise), so it’s a small insider acquisition in dollar terms. For retail investors, exercises followed by immediate open-market sales are more indicative of cashing out; here Dalton retained the net shares after tax withholding.