Vijayvargiya Jugal K. 4

What Happened
Jugal K. Vijayvargiya, President & CEO and a director of MATERION Corp (MTRN), exercised 32,122 derivative awards on Feb 17, 2026 (code M) at an exercise price of $58.30, resulting in shares valued at $1,872,713. All 32,122 shares resulting from the exercise were disposed the same day: 19,159 shares were withheld to cover tax/exercise obligations (code F) at a weighted average price of $151.78 ($2,908,049), and 12,963 shares were sold in multiple open-market transactions (code S) for approximately $1,925,726. Total sales proceeds were about $4.83 million. This pattern is a cashless exercise/sell-to-cover (routine tax- and liquidity-related), not a fresh cash purchase.

Key Details

• Transaction date: February 17, 2026; Form 4 filed February 19, 2026 (timely filing).
• Exercise: 32,122 derivative shares acquired @ $58.30 = $1,872,713.
• Dispositions: 19,159 shares withheld for taxes @ $151.78 = $2,908,049; 12,963 shares sold in several open-market trades totaling ~$1,925,726.
• Total disposed = 32,122 shares (matches shares acquired); total sales proceeds ≈ $4,833,775.
• Sale prices executed across multiple transactions; weighted-average sale prices ranged roughly from $145.99 to $151.84 (see filing footnotes for per-trade breakdown).
• Footnote: stock appreciation rights (SARs) vested in three equal annual installments beginning Feb 22, 2020 (footnote F8). Footnote F2 indicates the reporting person can provide a per-price breakdown on request.
• Shares owned after the transactions are not specified in the summary data provided here — see the Form 4 for the post-transaction holdings.

Context
This was an exercise of derivative awards (SARs/options) followed by immediate dispositions to cover the exercise/tax obligation and additional open-market sales — commonly called a cashless exercise or sell-to-cover. Such transactions are typically administrative/liquidity events rather than a directional buy or sell signal; they do not by themselves indicate insider sentiment about the company’s prospects. Transaction codes: M = exercise/conversion of derivative, F = tax withholding, S = open-market sale.