Crocs CEO Andrew Rees Exercises Options, Sells Shares

What Happened Andrew Rees, CEO of Crocs (CROX), exercised employee stock options on 2026-08-04. The filing shows conversion of derivative securities involving 400,000 option shares: 200,000 shares were acquired at an exercise price of $6.98 per share (total cash paid $1,396,000), and 200,000 shares were reported as converted/disposed as part of the derivative exercise (reported $0). Separately, 105,610 shares were withheld by the issuer to cover the exercise price and required tax withholding at an indicated per-share value of $141.19, a withholding value of about $14,911,076.

Key Details

• Transaction date: 2026-08-04; Form 4 filed 2026-08-06 (timely filing).
• Exercise: 200,000 shares acquired @ $6.98 (total $1,396,000); 200,000 shares reported as derivative conversion/disposed @ $0.
• Withholding (F): 105,610 shares withheld @ $141.19 to cover exercise price/taxes = ~$14.9M.
• Footnotes: F1 = issuer withheld shares for exercise price and tax obligations; F2 = Rees is trustee of the Rees Family Living Trust and exercises voting/investment power for trust shares; F3 = the option vested in three tranches in 2018–2020.
• Shares owned after the transactions are not specified in the summary data provided.

Context This appears to be an option exercise combined with share withholding to satisfy exercise costs and tax obligations—a common cashless-style settlement that is routine for executive option exercises. The large dollar amount reported ($14.9M withheld) reflects tax/exercise coverage rather than an open-market sale; filings of this type do not, by themselves, reveal the insider’s market sentiment.