Buller Richard E 4

What Happened

• Richard E. Buller, a director of Celcuity Inc. (CELC), exercised 9,000 options at $5.10 per share (cost $45,900) on May 4, 2026, and sold a total of 9,000 common shares in multiple open-market trades the same day for aggregate proceeds of approximately $1,264,181. The transactions were effected under a Rule 10b5-1 trading plan.

Key Details

• Transaction date: May 4, 2026; Form filed May 6, 2026 (timely).
• Option exercise (code M): 9,000 shares acquired at $5.10 each; total cash paid $45,900. Options were 100% vested (F8).
• Sales (code S): 9,000 shares sold in several trades at prices ranging roughly from $137.00 to $143.24 (weighted average proceeds ≈ $1,264,181). Footnotes F3–F7 list the weighted-average price ranges for the grouped trades; the filing offers to provide breakdowns on request.
• Plan and ownership notes: Sales and option exercise were made pursuant to a 10b5-1 plan adopted Dec 8, 2025 (F1). The reporting person and spouse are trustees/beneficiaries of a trust holding certain shares that he continues to beneficially own (F2).
• Shares owned after the transaction: not specified in the supplied filing lines; filing notes the trust holdings remain beneficially owned.

Context

• This is effectively a cashless exercise: Buller exercised options and sold the same number of shares the same day, which is a common way to cover exercise costs and taxes rather than a fresh cash purchase (M = option exercise; S = sale).
• Transactions were executed under a prearranged 10b5-1 plan, which typically schedules trades in advance and reduces inference about timing or intent.