Prober Charles J. 4

What Happened

• Charles J. Prober, a director of Life360, exercised options and immediately sold the resulting shares. On Feb 13, 2026 he exercised 7,930 option shares at a strike of $11.18 (cost = $88,657) and sold those 7,930 shares in the open market at $49.02 for gross proceeds of $388,729. The filing shows the related derivative (the option) was disposed/cancelled as part of the exercise.

Key Details

• Transaction date: 2026-02-13.
• Option exercise: 7,930 shares acquired at $11.18 per share (total cost reported $88,657).
• Open-market sale: 7,930 shares sold at $49.02 per share (gross proceeds $388,729).
• Derivative disposition: 7,930 option units shown as disposed (reflects the option being exercised/cancelled).
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Notable footnotes:
  • F1: Sale was effected under a Rule 10b5‑1 trading plan adopted Mar 14, 2025 (pre‑established plan; adopted when the filer stated they were not aware of material nonpublic information).
  • F2: Filing references 1,357 restricted stock units previously granted (each converts to one share upon vesting).
  • F3: Option vesting schedule described (initial 1/2 vested Apr 1, 2024; remainder vesting monthly thereafter).
• Filing timeliness: Transaction filed on 2026-02-18 for activity on 2026-02-13 — outside the standard two‑business‑day Form 4 window, so the filing appears late.

Context

• This was an exercise-plus-sale (often called a cashless exercise or exercise-and-sell) where the insider converted options into shares and sold them immediately. Such transactions frequently reflect routine liquidity or tax/settlement needs rather than a directional view on the stock; the pre-established 10b5‑1 plan further indicates the sales were automated under preset rules.