QuickLogic (QUIK) CFO Nader Elias Sells Shares; Exercises RSUs

What Happened

• Nader Elias, QuickLogic’s CFO and SVP Finance, completed an open‑market sale of 12,152 shares on Sept 10, 2026 for a weighted average price of $10.80, yielding about $131,217. He also reported the conversion/exercise of 14,881 derivative shares on Sept 13, 2026 (acquired and immediately disposed at $0 per share), reflecting RSU conversion/settlement activity rather than a cash purchase.

Key Details

• Transaction dates and prices:
  • Sept 10, 2026 — Open‑market sale: 12,152 shares at a weighted average price of $10.80 (sales occurred at prices ranging $10.485–$11.212).
  • Sept 13, 2026 — Exercise/conversion (derivative code M): 14,881 shares acquired at $0.00 and 14,881 shares disposed at $0.00.
• Proceeds: Open‑market sale ≈ $131,217 (weighted average).
• Shares owned after the transactions: Not specified in the excerpt of the filing provided.
• Notable footnotes:
  • Footnote F1: The shares sold were to cover taxes from restricted stock units (RSUs) that vested on Sept 2, 2026.
  • Footnote F2: The $10.80 price is a weighted average across multiple sale prices; full breakdown available on request to the company or SEC staff.
  • Footnote F3: The RSUs vest 50% after one year and 50% after two years from issuance, subject to continued employment.
• Filing timeliness: Form 4 was filed on Sept 14, 2026 and covers transactions dated Sept 10 and Sept 13, 2026 — the filing appears to be timely under standard Form 4 reporting rules.

Context

• The Sept 13 derivative entries (acquire and dispose at $0) indicate conversion/settlement of equity awards (RSUs) rather than a market purchase; the disposal at $0 typically reflects shares surrendered or withheld as part of settlement/tax withholding. The Sept 10 open‑market sale was explicitly to cover tax obligations from vested RSUs. These transactions are routine compensation and tax‑related activities and do not necessarily signal a change in insider sentiment.