Mallela Ravi 4

What Happened

• Director Mallela Ravi had 1,072 restricted stock units (RSUs) from a March 31, 2025 award vest on March 31, 2026; those RSUs converted into 1,072 common shares and were immediately surrendered/withheld (reported as a disposition) to satisfy withholding obligations. At the same date he was granted 2,164 new RSUs (no cash paid). The filing reports $0 for the award/withholding lines; no dollar sale or purchase proceeds were reported.

Key Details

• Transaction date: March 31, 2026; Form 4 filed April 2, 2026.
• Actions reported: Exercise/conversion of derivative (M) for 1,072 shares (conversion of vested RSUs) and a disposition of 1,072 shares (tax withholding); Grant/award (A) of 2,164 RSUs at $0.00.
• Reported dollar amounts: $0 reported for award/withholding lines; no cash purchase or sale proceeds shown.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 — each RSU converts to one common share upon vesting. F2 — the 2,164 RSUs vest on the first anniversary of the March 31, 2026 award (subject to continued service). F3 — the 1,072 RSUs were from the March 31, 2025 award and vested on their 12‑month anniversary.
• Filing timeliness: No late filing flag shown in the provided data.

Context

• These entries reflect routine equity compensation activity: vested RSUs converting to shares and being withheld/surrendered to cover taxes (a common cashless/net‑settlement practice), plus the grant of new RSUs that will vest in the future. Such award/withholding transactions are common and do not by themselves indicate a buy or sell market signal.