Stoppelman Jeremy 4

What Happened Jeremy Stoppelman, CEO of Yelp (YELP), exercised stock options on Jan 29, Jan 30 and Feb 2, 2026 — 30,000 shares each day (90,000 total) at $20.47 per share (total exercise cost $1,842,300). He concurrently sold the 90,000 shares in open-market transactions under a pre-arranged 10b5-1 plan, generating gross proceeds of about $2,464,350 (weighted-average sale prices on the three dates: $27.35, $27.26 and $27.54). The exercises are reported as derivative conversions (transaction code M) and the sales as open-market disposals (S). Net proceeds before fees and taxes were roughly $622,050.

Key Details

• Transaction dates and per-date amounts:
  • 2026-01-29: Exercised 30,000 @ $20.47 = $614,100; Sold 30,000 @ weighted avg $27.35 = $820,389 (sales ranged $27.22–$27.57). (Footnotes F1, F2, F5)
  • 2026-01-30: Exercised 30,000 @ $20.47 = $614,100; Sold 30,000 @ weighted avg $27.26 = $817,872 (sales ranged $27.09–$27.39). (Footnotes F1, F3, F5)
  • 2026-02-02: Exercised 30,000 @ $20.47 = $614,100; Sold 30,000 @ weighted avg $27.54 = $826,089 (sales ranged $27.12–$27.64). (Footnotes F1, F4, F5)
• Total exercised: 90,000 shares at $20.47 ($1,842,300). Total sold: 90,000 shares for ~$2,464,350 (weighted-average prices shown above).
• Shares owned after the transactions: not specified in this filing.
• Footnotes of note:
  • F1: Sales were made pursuant to a 10b5-1 trading plan adopted May 19, 2025 (pre-arranged trades).
  • F2–F4: Reported sale prices are weighted averages; each sale occurred in multiple transactions across the price ranges noted above.
  • F5: Options were fully vested.
• Filing timeliness: the Form 4 does not indicate a late filing.

Context

• These entries show option exercises followed by immediate open-market sales — effectively a cashless exercise and disposition of the acquired shares. The separate derivative disposal lines at $0 reflect surrender/conversion of the option instruments, which is standard reporting for exercises.
• Because the sales were executed under a 10b5-1 plan, they were pre-planned trades and are commonly viewed as routine insider liquidity rather than a new sentiment signal.