Vijayvargiya Jugal K. 4

What Happened
Jugal K. Vijayvargiya, President & CEO and a director of Materion Corp (MTRN), exercised stock appreciation rights (SARs) on 2026-05-13 that resulted in the acquisition of 28,071 shares at a reported value/price of $50.95 per share (total value $1,430,217). To satisfy tax withholding obligations, 15,183 of those shares were surrendered (reported as a disposition for tax withholding). Net shares received from the exercise were 12,888. These actions are routine tax-withholding settlements following a derivative exercise rather than an open-market purchase or sale for investment purposes.

Key Details

• Transaction date: 2026-05-13; Form 4 filed: 2026-05-15 (timely filing).
• Exercise (code M): 28,071 shares @ $50.95 → $1,430,217 (acquired).
• Tax withholding (code F): 15,183 shares surrendered @ reported $209.70 each → $3,183,875 (disposed to cover taxes).
• A related derivative entry shows the SAR conversion recorded (28,071 shares @ $0.00) consistent with settlement of the award.
• Net shares received: 28,071 − 15,183 = 12,888 shares.
• Footnote: The SARs vested in three substantially equal annual installments beginning Feb 19, 2021 (per footnote F1).
• No indication of a 10b5-1 plan or gift; transaction was an exercise with routine tax withholding.

Context
This was an exercise/settlement of SARs (a derivative award). The surrender of shares to cover taxes is a common, routine step (cashless/net-share settlement) and does not necessarily indicate a change in the insider’s view of the company. Purchases (out-of-pocket buys) typically carry more signal for investors than exercises followed by withholding.