Sibley Tarrant L. 4

What Happened
Sibley T. L. Sibley, EVP, CLO and Corporate Secretary of Hasbro, exercised 15,148 stock options (code M) on 2026-02-12 at an exercise price of $86.66, at an aggregate exercise cost of $1,312,726. The same 15,148 shares were sold in the open market (code S) that day at a weighted average price of $104.98, producing total sale proceeds of $1,590,186. Net of the exercise cost, this sequence yielded roughly $277,460 in gross proceeds before taxes and fees. The filing also reports the derivative conversion/disposition line (exercise-to-sell) at $0 as a procedural entry.

Key Details

• Transaction date: February 12, 2026. Filing date: February 13, 2026 (timely).
• Options exercised: 15,148 shares at $86.66 each (total ~$1.31M).
• Shares sold: 15,148 shares at weighted avg $104.98 (total ~$1.59M); sale prices ranged $104.97–$105.07 (see footnote).
• Net cash difference: ~ $277,460 (sale proceeds minus exercise cost), before taxes/fees.
• Footnotes: Options were granted under the company’s employee stock option plan (Rule 16b‑3) and have tandem tax withholding rights. Vesting occurred in three installments (Feb 19, 2020; Feb 19, 2021; Feb 19, 2022). The sale price shown is a weighted average; exact per-share prices are in the footnote.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context
This was an exercise-and-immediate-sale (cashless-ish) transaction: the insider exercised vested options and sold the resulting shares the same day. Such transactions are common for covering the exercise cost and tax obligations and do not by themselves indicate a change in long-term insider sentiment. The filing appears timely (reported the next day).