Dalton Kristen Ann 4

What Happened

• Kristen Dalton, Chief Strategy & Ops Officer at TripAdvisor, exercised stock options on May 1, 2026, resulting in the acquisition of 1,306 shares (exercise price $11.13) with a total intrinsic amount shown as $14,536.
• To cover tax withholding, 384 of those shares were surrendered/withheld (reported as disposed) at the same per-share price, equal to about $4,274. The filing also reports the option/derivative being converted/terminated in connection with the exercise.

Key Details

• Transaction date: 2026-05-01; Form 4 filed: 2026-05-05 (covers the May 1 transaction).
• Exercise: 1,306 shares @ $11.13 = $14,536 (code M: option exercise/conversion).
• Tax withholding: 384 shares @ $11.13 = $4,274 (code F: payment of exercise price or tax liability).
• Derivative conversion: 1,306 derivative units reported as disposed at $0 (reflects termination/conversion of the option).
• Shares owned after the transaction: not reported in the information provided.
• No 10b5-1 plan or other special footnotes were indicated in the supplied data.

Context

• This appears to be a routine option exercise with shares withheld to satisfy tax withholding — effectively a cashless result for payroll tax purposes rather than an open-market sale or purchase.
• Such exercises are common for employees receiving equity and are administrative; they do not necessarily indicate a bullish or bearish signal about the company's stock.