Kalvert Seth J 4

What Happened

• Seth J. Kalvert, Chief Legal Officer and Secretary of TripAdvisor (TRIP), exercised options on Feb 5, 2026 to acquire 8,032 common shares at an exercise price of $12.43 per share (total exercise cost $99,838). To cover tax withholding, 2,798 of those shares were surrendered/withheld (valued at $34,779), leaving a net increase of 5,234 shares (net value ≈ $65,059). The filing shows the derivative converted into common stock.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (filed within the typical 2-business-day window).
• Exercise price: $12.43 per share.
• Shares acquired on exercise: 8,032 (total value of exercised shares $99,838).
• Shares withheld for taxes: 2,798 (value $34,779); net shares retained: 5,234 (net value ≈ $65,059).
• Transaction codes: M = option exercise/conversion; F = shares surrendered/withheld for tax withholding.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• No 10b5-1 plan or other special footnotes reported in the supplied details.

Context

• This was an option exercise (not an open-market purchase). The withholding of shares for taxes is a common administrative step and is effectively a partial net (cashless) settlement of the exercise, not an explicit sell in the open market. As with most exercises and tax withholdings, this is routine insider activity and does not, by itself, indicate management’s view of the company’s short-term stock prospects.