Duda Kenneth 4

What Happened
Kenneth Duda (President, CTO and Director) exercised options to acquire 30,000 shares at $3.52 per share (cost ≈ $105,450) and reported a 30,000-share derivative conversion shown as disposed at $0.00. Separately he sold 56,000 shares in multiple open-market transactions on January 20, 2026, generating aggregate proceeds of about $7.19 million. The sales were reported as executed under pre-arranged trading arrangements.

Key Details

• Transaction date: January 20, 2026; Form 4 filed January 22, 2026 (timely filing).
• Option exercise: 30,000 shares acquired @ $3.52 (≈ $105,450). Another 30,000-share derivative entry is shown as disposed at $0.00 on the same date.
• Open-market sales: 56,000 shares sold across multiple trades, weighted-price proceeds ≈ $7,192,213 (individual lots ranged ~ $126.66–$130.29 per footnotes).
• Reported as effected under one or more Rule 10b5-1 trading plans (entered March 13, 2025) — sales/exercises were pre-arranged (see footnotes).
• Several holdings/sales involve trusts and a 501(c) foundation where Mr. Duda and family serve as trustees (see filing footnotes F6–F13).
• Shares owned after the transactions were not provided in the excerpted data.

Context

• This filing combines an option exercise (derivative transaction) with same-day open-market sales — often a way for insiders to monetize vested options. The filing shows exercises and sales under 10b5-1 plans, which are pre-set trading arrangements intended to avoid trading on non-public information.
• Sales by executives are common and do not by themselves indicate company performance or insider sentiment; purchases generally carry more direct bullish signal.