Reynolds Bjorn 4

What Happened
Bjorn Reynolds, a director of Asure Software, exercised 5,000 stock options on May 7, 2026. The exercise reflected a $7.86 per-share option price (5,000 x $7.86 = $39,300). To cover the exercise price and tax withholding, 4,282 of the resulting shares were surrendered/withheld at an effective $9.18 per share (4,282 x $9.18 = $39,309). Net shares retained after the withholding were 718 shares (5,000 − 4,282). This sequence is a cashless-style exercise (options converted to shares with a portion withheld for payment/taxes).

Key Details

• Transaction date: May 7, 2026; Form 4 filed May 11, 2026.
• Option exercise: 5,000 shares @ $7.86 (total $39,300) — transaction code M.
• Withholding/tax payment: 4,282 shares @ $9.18 (total $39,309) — transaction code F (shares disposed to cover exercise/taxes).
• A related entry shows conversion/disposition of 5,000 option units at $0.00 (reflecting the derivative conversion).
• Net new shares retained: 718 shares.
• Footnotes: F1 confirms the withheld shares paid the exercise price for options originally granted May 13, 2021. F2 describes the grant’s vesting schedule (1/3 at the first anniversary, remaining 2/3 vested monthly over the following two years).
• Shares owned after the transaction: not specified in the filing.
• Timeliness: filing date is four days after the transaction; Form 4s are normally due within two business days, so this interval may be later than typical.

Context

• This was an option exercise with shares withheld to cover the exercise price/taxes (a routine cashless-style transaction), not an open-market sale or purchase. Withholding of shares for tax/price is common and does not necessarily indicate a change in the insider’s view of the company.
• The amounts involved are modest (net ~718 shares retained), so this is a small insider acquisition in dollar terms.