Glaukos (GKOS) President & COO Joseph Gilliam Sells Shares, Exercises Options

What Happened

• Joseph E. Gilliam, President and Chief Operating Officer of Glaukos Corp (GKOS), exercised stock options to acquire 60,000 shares and sold 60,000 shares in open-market trades on August 11, 2026.
• Exercises: 60,000 shares acquired by exercising options at strikes of $48.46 and $55.18 (total paid ≈ $3,176,400).
• Sales: 60,000 shares sold in two groups (27,963 and 32,037 shares) for proceeds of ≈ $10,784,659 (weighted-average sale prices reported).
• Result: The exercises plus same-day sales effectively converted option positions into cash; gross proceeds minus option strike payments ≈ $7.61M (before taxes/fees).

Key Details

• Transaction date: August 11, 2026; Form 4 filed August 13, 2026 (appears timely under the 2‑business‑day rule).
• Exercise details: option exercises reported as code M (derivative conversion). Some option entries are shown as "disposed" at $0 to reflect conversion of the options into shares.
• Sale details: two open-market sales (code S) — weighted-average prices reported: one block averaged $178.89 (trades ranged $178.60–$179.58, per F2) and the other averaged $180.49 (trades ranged $179.68–$180.60, per F3).
• Shares owned after transaction: not specified in the provided data. Footnote F1 notes 41,983 restricted stock units (unvested) and 225 shares purchased via the ESPP still outstanding.
• Notable footnotes: the exercised options include performance- and promotion‑related grants from March 24, 2022 and March 22, 2023 (F4, F5, F8); vesting schedules and corrections to prior filings are noted (F6, F7).
• Transaction codes: M = option exercise/conversion; S = open-market sale.

Context

• This is a common pattern where an insider exercises options and sells the resulting shares the same day (often called a cashless exercise + sale). The filing shows the exercises and sales were executed on the same date and reported together.
• These entries are factual disclosures of insider activity; they do not by themselves indicate the insider’s broader view of the company. Purchases typically carry more informational weight than routine option exercises followed by sales.