Dalton Kristen Ann 4

What Happened

• Kristen Ann Dalton, TripAdvisor’s Chief Strategy & Operations Officer, exercised stock options on 2026-05-15 to acquire a total of 9,891 shares at an exercise price of $9.60 per share (aggregate exercise cost ≈ $94,954). To pay exercise costs / tax withholding, 2,905 shares were withheld (reported as dispositions), valued at $9.60 each (≈ $27,888). The filings also show the underlying option interests being converted/cancelled on exercise.

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-18 (appears timely).
• Option exercise entries (code M): 2,810; 2,890; and 4,191 shares acquired at $9.60 each (total 9,891 shares; $94,954).
• Tax/price withholding (code F): 825; 849; and 1,231 shares withheld/disposed at $9.60 each (total 2,905 shares; $27,888).
• Derivative cancelation lines: same share counts shown as disposed at $0.00, reflecting conversion/cancellation of the option instruments on exercise.
• Shares owned after the transactions: not disclosed in the provided filing details.
• Accession #: 0001526520-26-000084; Period of Report: 2026-05-15.
• Transaction codes: M = option exercise; F = payment of exercise price/tax liability (sell-to-cover/withholding).

Context

• This was an option exercise with a sell-to-cover (or share-withholding) to satisfy exercise price and/or tax withholding — a routine executive liquidity/tax event rather than an open-market sale. Net new shares added to Dalton’s holdings from this activity = 9,891 acquired − 2,905 withheld = 6,986 shares (net value at $9.60 ≈ $67,066). As always, exercises and withholding are not direct buy/sell signals about near-term company performance; they reflect option vesting/exercise mechanics recorded on the Form 4.