Kenison Michael R. 4

What Happened

• Michael R. Kenison, Chief Operations Officer of Proto Labs (PRLB), exercised stock-derived awards and sold common shares on May 11–12, 2026. The filing shows exercises/acquisitions totaling 14,960 shares at aggregate reported exercise costs of about $617,368 (individual exercises at $33.84, $33.52, $39.61 and $59.40). Concurrently, Kenison sold 23,463 shares in open-market/private-sale transactions for a total of approximately $1,636,166 (sales priced between about $67.06 and $70.57).

Key Details

• Transaction dates: May 11–12, 2026 (Form 4 filed May 13, 2026). Filing appears timely.
• Exercises (code M): 3,756 @ $33.84, 3,677 @ $33.52 (May 11); 1,928 @ $33.84, 1,557 @ $39.61, 4,042 @ $59.40 (May 12).
• Sales (code S): total 23,463 shares sold — 7,433; 1,613; 4,198; 3,576; 6,643 — weighted average sale prices reported per footnotes; total proceeds ≈ $1.636M.
• Shares owned after transaction: Not reported in this Form 4.
• Notable footnotes: F1 — the shares were acquired and sold pursuant to a 10b5-1 trading plan adopted Aug 15, 2025. F2–F6 — provide weighted-average sale prices and price ranges; the filer will supply per-price breakdown on request. Other footnotes in the filing reference vesting schedules for awards but do not change these transactions.
• Transaction codes explained: M = exercise/conversion of derivative (options); S = open-market/private sale.

Context

• The filing shows exercises and same-period sales, consistent with exercising stock awards and selling shares (often done to cover exercise costs, tax obligations, or per a pre-established trading plan). Because the sales are executed under a disclosed 10b5-1 plan, they were pre-planned trades rather than spontaneous open-market sales. This form is factual disclosure of the insider’s actions and does not by itself indicate the insider’s view on the company’s prospects.