Reaume Marty M 4

What Happened

• Director Marty Reaume exercised 1,000 stock options on March 9, 2026, by paying $51.80 per share (total cost $51,800) and sold 1,000 shares that same day in an open-market sale at $62.73 per share (proceeds $62,730). The filing also reports a disposition of 1,000 derivative units (reported at $0) reflecting the elimination/conversion of the exercised derivative instrument. Net proceeds vs. exercise cost were $10,930 before taxes and fees.

Key Details

• Transaction date: March 9, 2026 (filed March 11, 2026) — filing appears timely under Form 4 deadlines.
• Exercise: 1,000 shares at $51.80 each (total $51,800).
• Sale: 1,000 shares at $62.73 each (total $62,730).
• Derivative disposition: 1,000 units reported as disposed at $0 (reflects conversion/exercise of the derivative).
• Footnotes: Trades were effected pursuant to a Rule 10b5-1 trading plan adopted Sept 10, 2025 (F1). Options were fully vested (F2).
• Shares owned after the transaction: not disclosed in this Form 4.

Context

• Because the exercised shares were sold the same day, this effectively functions like a cashless exercise (exercise followed by immediate sale). The presence of a 10b5-1 plan indicates the sales were made under a pre-established trading arrangement rather than ad-hoc market timing. This is routine insider activity; the filing is factual and does not indicate the director’s future view of the company.