Kenison Michael R. 4

What Happened

• Michael R. Kenison, Chief Operations Officer of Proto Labs (PRLB), exercised stock options and sold shares on May 7, 2026. The filing shows two option exercises acquiring 200 shares total (100 shares @ $33.84, $3,384; 100 shares @ $33.52, $3,352 — total cost $6,736). The filing also shows an open-market sale of 200 shares at $70.00 each for $14,000.
• In addition, there are two 100-share derivative disposal entries reported at $0.00 each; these $0.00 disposals are reported in connection with the option activity and typically reflect net share settlement or withholding related to an exercise. The acquisition and sale entries were reported as executed pursuant to the insider’s 10b5-1 trading plan.

Key Details

• Transaction date: May 7, 2026 (Form 4 filed May 8, 2026 — appears timely).
• Exercises (acquired): 100 shares @ $33.84 ($3,384); 100 shares @ $33.52 ($3,352). Total acquired cost = $6,736.
• Sale (disposed): 200 shares @ $70.00 = $14,000.
• Derivative disposals: two entries of 100 shares each @ $0.00 (reported as disposals in connection with exercise/settlement).
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: F1 — transactions were made pursuant to Kenison’s 10b5-1 plan adopted Aug 15, 2025. F2/F3 — vesting schedules referenced for awards (25% vesting on Feb 13 of 2024 and 2025, and annually thereafter).

Context

• This was an option exercise followed by an immediate sale of shares (common for executives monetizing vested options). The presence of $0.00 disposal lines likely indicates shares were surrendered or net-settled for taxes/exercise costs rather than open-market sales.
• The sale being executed under a 10b5-1 plan means the trades were preplanned and automated under a written trading arrangement, which is commonly used to avoid timing concerns.