Reaume Marty M 4

What Happened
Director Marty M. Reaume exercised 1,000 stock options at a $51.80 strike (cost $51,800) on Feb 9, 2026 and, the same day, sold 1,000 shares in an open-market transaction at $79.92 per share for proceeds of $79,920. The transactions reflect an approximate gross spread of $28,120 (proceeds minus exercise cost) before taxes and fees. The filing also reports the related derivative (the option) as disposed/converted in connection with the exercise.

Key Details

• Transaction date: 2026-02-09. Exercise: 1,000 shares @ $51.80 (acquired for $51,800). Sale: 1,000 shares @ $79.92 (proceeds $79,920). Derivative reported disposed at $0 as part of conversion/exercise.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: Trades were executed under a Rule 10b5-1 trading plan adopted Sept 10, 2025 (F1). Options were fully vested (F2).
• Filing date: 2026-02-11 — appears to be within the standard Form 4 reporting window.

Context
This was an option exercise followed by an immediate open-market sale (a common "cashless" pattern). The presence of a 10b5-1 plan indicates the sale was pre-planned rather than an ad hoc trade; the options were fully vested. Such mechanically executed exercises/sales under a 10b5-1 plan are typically routine and do not necessarily signal a change in the insider’s view of the company.