SMITH PETE A 4

What Happened Pete A. Smith, President and CEO of Aviat Networks (AVNW), exercised 26,386 stock options on Feb 9, 2026 (cost $11.00/share, total $290,246) and immediately sold 17,086 of those shares in an open-market transaction for a weighted average price of $26.33/share (total proceeds $449,813). The derivative position (the option) was reported as disposed upon exercise.

Key Details

• Transaction date: 2026-02-09; Form 4 filed 2026-02-10 (filed next day).
• Options exercised: 26,386 shares at $11.00 each; total exercise cost $290,246.
• Shares sold: 17,086 shares via open-market sale at a weighted average price of $26.33 ($26.05–$26.60 range); total proceeds $449,813.
• Net from this event: of the 26,386 shares acquired on exercise, 17,086 were sold and 9,300 were retained from this exercise.
• Shares owned after transaction: not reported in the filing.
• Footnotes: (F1) option grant price adjusted to $11.00 after a 2-for-1 split (original grant 13,193 options → 26,386 post-split); (F2) sale price is a weighted average across multiple trades; (F3) option grant dated Sept 1, 2020, vested over three years.
• No 10b5-1 plan, tax-withholding, or late-filing indication reported.

Context This was an option exercise followed by an immediate partial sale (i.e., shares acquired via exercise, then some sold). Such transactions are often used to cover exercise costs and taxes; they are routine insider liquidity events and should not be taken alone as a directional signal on company outlook.