Grandon Jonathan M. 4

What Happened
Jonathan M. Grandon, Chief Administrative Officer of Franklin Electric (FELE), exercised 8,547 stock options at $42.20 per share (total cost $360,683) on 2026-06-09 and immediately sold the same 8,547 shares in an open-market transaction at $103.40 per share for gross proceeds of $883,785. The sequence is effectively a cashless exercise (exercise + sale), yielding about $523,102 in proceeds before taxes and fees. This is a sale rather than a new long-term purchase.

Key Details

• Transaction date: 2026-06-09; Form 4 filed 2026-06-10 (appears timely).
• Exercise: 8,547 shares at $42.20 per share = $360,683 (transaction code M).
• Sale: 8,547 shares at $103.40 per share = $883,785 (transaction code S).
• Net proceeds (sale minus exercise cost): ≈ $523,102 (pre-tax, excludes fees).
• Footnote F1: Reported holdings include restricted shares vesting over 2027–2028 (3,168; 1,715; 1,698) and 928 shares owned outright.
• Footnote F2: The options exercised follow an earlier vesting schedule (four equal annual instalments beginning 2/23/2017).
• No indication of a 10b5-1 plan or of a late filing in the report.

Context

• This is a common pattern: exercising vested options and selling the shares immediately to cover exercise cost, tax withholding or to take gains. Such sales are routine and do not necessarily signal a change in the insider’s view of the company.
• Transaction codes: M = option exercise (derivative), S = sale (open market).