NORWOOD RALPH M 4

What Happened

• Ralph M. Norwood, a director of CPS Technologies (CPSH), exercised options on May 18, 2026 to acquire 15,000 shares at $1.49 per share (total value $22,350). As part of the transaction, 4,178 shares were withheld/sold to cover tax or exercise-related obligations at $5.35 per share (value $22,352). The filing also records the derivative conversion related to the exercise.

Key Details

• Transaction date: 2026-05-18
• Option exercise (code M): 15,000 shares acquired at $1.49 — $22,350
• Tax withholding/payment (code F): 4,178 shares disposed at $5.35 — $22,352
• Derivative disposition: same 15,000-share conversion recorded (reflects exercise)
• Shares owned after the transaction: not stated in the provided filing details
• Filing status: Form 4 filed 2026-05-20 for the 5/18 transaction (filed within the typical two-business-day window)
• Footnote: Code F indicates shares were used for tax withholding or to satisfy exercise payment

Context

• This was an option exercise (acquisition) combined with a cashless-style tax withholding/sale; the director acquired shares via exercising options but surrendered/withheld a portion to meet tax/price obligations. Such withholding is routine and reflects tax handling rather than an independent open-market sale.