Testa Daniel M. 4

What Happened

• Daniel M. Testa, a director of FVCBankcorp, exercised stock options (derivative code M) to acquire 21,483 shares at $9.22 per share (total cost $197,987) on 2026-04-10, and a matching disposition of 21,483 shares at $9.22 (total $197,987) was reported the same day.
• This sequence — exercise followed by an immediate sale of the same shares — is typically a cashless exercise or simultaneous sale to cover option costs and taxes rather than a straightforward buy that signals conviction.

Key Details

• Transaction date: 2026-04-10; Exercise/Disposition price: $9.22 per share.
• Shares acquired: 21,483 (total value $197,987); Shares disposed: 21,483 (total proceeds $197,987).
• Transaction code: M (option exercise/conversion); both acquisition and disposition are reported.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Filing: Form 4 filed 2026-04-14 — within the typical two-business-day window for Form 4s following a 2026-04-10 transaction (not marked late).

Context

• For option exercises where the same number of shares are immediately sold, the practical effect is often to satisfy the exercise cost and tax withholding; such transactions are common and may not reflect a change in the insider’s view of the company.
• This was not a cash purchase by the director; it was an exercise of derivatives followed by a sale (derivative disposal).