Steffan Timothy 4
4 · Comstock Holding Companies, Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Comstock (CHCI) COO Steffan Exercises Options, Sells Shares
What Happened
Steffan Timothy, Chief Operating Officer of Comstock Holding Companies, Inc. (CHCI), had a mix of option exercises, an RSU vesting, and share dispositions to cover tax obligations. The filing shows a 15,000-share option exercise on 2026-03-18 (paid $3.30/share; $49,500 cash), a vesting/award of 5,774 performance-based RSUs on 2026-03-17 (no cash cost), and sales/withholdings of 2,489 shares on 2026-03-17 (weighted avg $14.31; $35,618) and 8,424 shares on 2026-03-18 (weighted avg $15.20; $128,045) to satisfy tax liabilities. The filing also lists a 15,000-share derivative disposition (M-coded) at $0 on 2026-03-18 as reported.
Key Details
- Transaction dates and amounts:
- 2026-03-17: 5,774 RSUs vested (A) — acquired at $0.
- 2026-03-17: 2,489 shares disposed (F) at $14.31 — $35,618 (tax withholding).
- 2026-03-18: 15,000 shares acquired via option exercise (M) at $3.30 — $49,500 paid.
- 2026-03-18: 8,424 shares disposed (F) at a weighted avg $15.20 — $128,045 (tax withholding). Footnote notes trades ranged $15.06–$15.34.
- 2026-03-18: 15,000-share derivative disposition (M) reported at $0 (derivative).
- Aggregate (as reported): acquired 20,774 shares (15,000 exercised + 5,774 RSUs); disposed/withheld 10,913 shares for taxes (2,489 + 8,424) totaling ~$163,663; a 15,000-share derivative disposition is also listed separately.
- Footnotes: F1 = vesting of performance-based RSUs; F2 = multiple trades for the $15.20 weighted avg sale price (range $15.06–$15.34); F3 = the options vested in prior years and became fully exercisable on the noted date.
- Shares owned after the transactions are not disclosed in the filing.
- Filing timeliness: Form 4 cover dates 2026-03-17–03-18 and was filed 2026-03-19 — appears to be filed within the normal two-business-day Form 4 window.
Context
- The F-coded disposals are tax withholdings/payment of exercise price — common practice when RSUs vest or options are exercised; they do not necessarily indicate a broader directional bet.
- The M-coded lines indicate option exercise/derivative activity. One M-line shows acquisition via exercise (cash-paid exercise), and another M-line shows a derivative disposition at $0; the filing does not explain whether that reflects net settlement or cancellation.
- These transactions are routine insider reporting of compensation-related exercises/vesting and associated tax withholding rather than an open-market investment buy or sell for speculation.
Insider Transaction Report
- Award
Class A Common Stock, $0.01 par value
[F1]2026-03-17+5,774→ 106,420 total - Tax Payment
Class A Common Stock, $0.01 par value
[F1]2026-03-17$14.31/sh−2,489$35,618→ 103,931 total - Exercise/Conversion
Class A Common Stock, $0.01 par value
2026-03-18$3.30/sh+15,000$49,500→ 118,931 total - Tax Payment
Class A Common Stock, $0.01 par value
[F2]2026-03-18$15.20/sh−8,424$128,045→ 110,507 total - Exercise/Conversion
Stock Options (Right to Buy)
[F3]2026-03-18−15,000→ 35,000 totalExercise: $3.30From: 2022-06-27Exp: 2028-06-27→ Class A Common Stock, $0.01 par value (15,000 underlying)
Footnotes (3)
- [F1]Reflects vesting of performance-based restricted stock units
- [F2]This transaction was executed in multiple trades at prices ranging from $15.06 to $15.34 USD; the price reported above reflects the weighted-average sale price. The reporting person hereby undertakes, upon request, to provide to Comstock Holding Companies, Inc. (the "Issuer"), any security holder ofthe Issuer, or the Securities and Exchange Commission, full information regarding the number of shares and prices at which the transaction was effected.
- [F3]The stock options vested in four (4) equal annual installments, beginning on 6/27/2019 (the first anniversary of the grant date) and became fully vested and exercisable on this date