CAREY STEPHEN P. 4

What Happened

• Stephen P. Carey, SVP & CFO of ANI Pharmaceuticals (ANIP), exercised 3,312 stock options at $49.51 per share (total exercise cost $163,977) on June 5, 2026, and the same 3,312 shares were sold in the open market that day at $80.00 per share for proceeds of $264,960. The transactions were reported on a Form 4 filed June 9, 2026.
• This is a routine insider sale (shares were sold immediately after exercise), not a new purchase signal.

Key Details

• Transaction date: June 5, 2026.
• Exercise price: $49.51 per share; sale price: $80.00 per share.
• Shares exercised: 3,312; sale proceeds reported: $264,960; total exercise cost reported: $163,977.
• Transaction codes: M = exercise/conversion of a derivative (options); S = open-market sale.
• Footnote: The exercise and sale were effected under a Rule 10b5-1 trading plan adopted by Carey on March 6, 2026 (footnote F1).
• Footnote: The options exercised were subject to a vesting schedule (25% vested each year 2018–2021), i.e., they were fully vested (footnote F2).
• Shares owned after the transaction are not specified in the provided filing excerpt.
• Filing timeliness: Form 4 filed June 9, 2026 for a June 5 transaction — filing appears timely (within two business days).

Context

• This was effectively a cashless-style transaction: options were exercised and the resulting shares were sold the same day, converting option value to cash. Such transactions are commonly used for liquidity or tax/compensation management and do not, by themselves, indicate a change in the insider’s view of the company.
• Carey is an executive officer (not a 10% owner); these trades are reported under Section 16 as routine insider activity.