Eckert Kurt M. 4

What Happened

• Director Kurt M. Eckert exercised 5,250 stock options on July 2, 2026 at an exercise price of $12.00 per share (cost $63,000) and, the same day, sold 5,250 common shares in an open-market transaction at $39.35 per share for proceeds of $206,588. The filings also record a derivative conversion entry for 5,250 shares at $0.00 (no cash value) related to the exercise. Net proceeds before taxes and fees were $143,588 (206,588 − 63,000).

Key Details

• Transaction date: July 2, 2026; Form 4 filed July 7, 2026.
• Exercise: 5,250 shares @ $12.00 = $63,000 (reported as an option exercise, code M).
• Sale: 5,250 shares @ $39.35 = $206,588 (open-market sale, code S).
• Additional entry: 5,250 shares recorded as a derivative conversion @ $0.00.
• Shares owned after the transaction: not provided in the data you supplied.
• Footnotes: (F1) The sale was effected pursuant to a previously established Rule 10b5-1 trading plan adopted Dec 18, 2025. (F2) The options exercised were fully vested.
• Filing timeliness: Form filed 2026-07-07; the filing itself is included in the public record.

Context

• Because the exercise and sale involve the same share count on the same day, this looks like an immediate disposition following exercise (commonly done to cover exercise cost and tax withholding), but the filing simply reports the transactions — it does not state Eckert’s intent.
• The transaction was executed under a 10b5-1 plan, which generally means the trades were pre-planned and automated rather than ad hoc.