TripAdvisor CSO Kristen Dalton Exercises Options, Sells for Taxes

What Happened

• Kristen Ann Dalton, Chief Strategy & Operations Officer at TripAdvisor (TRIP), exercised stock options on August 14, 2026 to acquire 9,892 shares at an exercise price of $10.97 per share, for a total exercise cost of about $108,515.
• To cover withholding tax obligations, 3,301 of those shares were surrendered/withheld (reported as dispositions) with an aggregate value of about $36,212; after withholding, the net shares received were 6,591.
• The filing also shows corresponding derivative conversion/disposition entries at $0.00 reflecting the cancellation/conversion of the exercised options.

Key Details

• Transaction date: 2026-08-14; Form 4 filed: 2026-08-18 (appears late vs. the 2-business-day requirement).
• Exercise details (code M): 2,810 shares @ $10.97 ($30,826); 2,890 shares @ $10.97 ($31,703); 4,192 shares @ $10.97 ($45,986) — total acquired 9,892 shares, total cost ~$108,515.
• Tax withholding (code F): 938 shares @ $10.97 ($10,290); 964 shares @ $10.97 ($10,575); 1,399 shares @ $10.97 ($15,347) — total 3,301 shares withheld, ~$36,212 value.
• Derivative disposition lines at $0.00 correspond to the options being converted/cancelled as part of the exercise.
• Shares owned after the transaction are not shown in the excerpt; net new shares retained from this exercise = 6,591.

Context

• This was an option exercise (acquisition) with shares withheld to cover taxes — a common “cash exercise with share surrender” rather than an open-market purchase or a sell driven by market timing.
• Exercises and tax withholdings are routine compensation events and do not by themselves indicate the insider’s view of the company’s stock.
• The Form 4 was filed four days after the transaction date, which is later than the typical 2-business-day filing window.