Goldberg Scott L. 4/A
Research Summary
AI-generated summary
CNO (CNO) President Scott L. Goldberg Exercises Options, Sells 17,095 Shares
What Happened
- Scott L. Goldberg, President — Consumer Division at CNO Financial Group, exercised 17,095 stock options and immediately sold those 17,095 shares on February 10, 2023. The exercise cost was $16.42 per share (total $280,700). The shares were sold in the open market at a weighted average price of $25.34 per share (total proceeds $433,182), for pre‑tax net proceeds of about $152,482. The Form 4/A amends the original filing presentation and post‑transaction ownership details.
Key Details
- Transaction date: February 10, 2023 (reported in an amended Form 4 filed February 12, 2026) — filed late (amendment).
- Exercise (code M): 17,095 shares exercised at $16.42 = $280,700.
- Sale (code S): 17,095 shares sold at weighted avg $25.34 = $433,182 (sales ranged $25.15–$25.50).
- Derivative line: 17,095 option units shown as disposed (conversion of the derivative) at $0.00 — this reflects the options being converted into common shares when exercised.
- Sales were made pursuant to a Rule 10b5‑1 trading plan adopted Nov 11, 2022 (per footnote).
- Footnotes: amendment corrected exercise presentation and the reported amount of securities beneficially owned after the transactions; options originally vested Feb 25, 2018 and had an expiration date of Feb 25, 2025.
- Shares owned after the transaction: not specified in the summary provided here — see the full Form 4/A for amended beneficial ownership amounts.
Context
- This is a classic “exercise then sell” (cashless) transaction: options were exercised and the resulting shares were sold the same day, locking in the spread between the exercise price and sale price.
- The sale was executed under a prearranged 10b5‑1 plan, which typically indicates scheduled, not opportunistic, selling.
- Note the filing is an amendment submitted three years after the trade date; investors who track insider timing or compliance may want to review the full amended Form 4 for details on the corrected holdings and any explanations.