Breeden Richard C 4
4 · STERIS plc · Filed Jun 4, 2026
Research Summary
AI-generated summary of this filing
STERIS (STE) Director Richard Breeden Exercises Options, Sells Shares
What Happened
Richard C. Breeden, a director of STERIS plc, exercised 3,781 fully vested stock options on June 2, 2026, by paying $71.40 per share (total cost $269,963). On the same day he sold 1,481 of the acquired shares in an open-market transaction at a weighted average price of $209.51 per share for proceeds of $310,284. The Form 4 also shows the derivative (the option) was converted/disposed as part of the exercise.
Key Details
- Transaction date: 2026-06-02; Form 4 filed 2026-06-04 (timely).
- Option exercise: 3,781 shares exercised at $71.40 each; total cash outlay $269,963. (Code M = exercise/conversion of derivative.)
- Sale: 1,481 shares sold at a weighted average price of $209.51 ($209.50–$209.53 range) for $310,284. (Code S = sale.)
- Net change: +2,300 shares retained on a net basis (3,781 acquired − 1,481 sold).
- Footnotes: F1 clarifies the sale price was a weighted average across multiple trades; F4 notes the option was received in connection with STERIS’s 2019 redomiciliation and was fully vested; F2–F3 explain Breeden’s indirect beneficial ownership through related investment entities and disclaimers over certain shares.
- Filing timeliness: Not marked late.
Context This was an option exercise followed by an immediate partial open‑market sale. For retail investors, exercises followed by partial sales are common ways insiders cover exercise costs or taxes; the filing shows Breeden retained a net increase of 2,300 shares. The filing includes standard beneficial‑ownership footnotes indicating some shares are held through affiliated investment entities, which can affect how ownership is reported but does not change the basic economic result shown here.
Insider Transaction Report
- Exercise/Conversion
Ordinary Shares
2026-06-02$71.40/sh+3,781$269,963→ 40,445 total - Sale
Ordinary Shares
[F1]2026-06-02$209.51/sh−1,481$310,284→ 38,964 total - Exercise/Conversion
Employee Stock Option (right to buy)
[F4]2026-06-02−3,781→ 0 totalExercise: $71.40Exp: 2026-08-10→ Ordinary Shares (3,781 underlying)
- 27,242(indirect: See Footnotes Below)
Ordinary Shares
[F2][F3]
Footnotes (4)
- [F1]Price reflects a weighted average sale price for multiple transactions ranging from $209.50 to $209.53 per share, inclusive. The Reporting Person undertakes to provide, upon request by the SEC Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F2]Richard C. Breeden is the managing member of Breeden Capital Partners LLC, and managing member and chairman and chief executive officer of Breeden Capital Management LLC. Breeden Capital Partners LLC (the "General Partner") is in turn the general partner of Breeden Partners L.P. (the "Fund").
- [F3]Pursuant to Rule 16a-1(a)(2)(ii)(B) of the Securities Exchange Act of 1934, as amended, Mr. Breeden in his capacity as managing member, as well as chairman and chief executive officer of Breeden Capital Management LLC and as the managing member of Breeden Capital Partners LLC, may be deemed to be the indirect beneficial owner of the ordinary shares owned by the Fund and its General Partner, and may be deemed to have beneficial ownership of all such shares. Mr. Breeden disclaims beneficial ownership over 1,358 of these shares held by Breeden Partnership LLP.
- [F4]This option to purchase 3,781 STERIS plc ordinary shares, which is fully vested, was received in connection with the redomiciliation of STERIS plc to Ireland in March 2019 in exchange for an option to purchase 3,781 ordinary shares for $71.40 per share in STERIS plc prior to the redomiciliation ("Old STERIS"), subject to the same terms and conditions as the original Old STERIS stock option.