Chen Richard 4

What Happened

• Richard Chen, President and Chief Medical Officer of Personalis (PSNL), reported exercising/converting derivatives and selling stock on July 15, 2026. The filing shows an exercise/acquisition of 100,000 shares at $2.44 per share (cost $244,000) and an open-market sale of 100,000 shares at a weighted average price of $15.15 per share (proceeds $1,515,000). A separate derivative conversion of 100,000 shares is also reported with $0 exercise price (reported as a disposition of derivative shares).
• The sale generated approximately $1.515M in proceeds; comparing the reported $2.44 exercise cost for the acquired 100,000 shares, that tranche produced roughly $1.27M in gross proceeds before taxes/fees. All optioned shares are noted as fully vested and exercisable.

Key Details

• Transaction date: July 15, 2026
• Sale: 100,000 shares sold at weighted avg $15.15 (range $15.01–$15.45) — proceeds $1,515,000 (F2).
• Exercise/acquisition: 100,000 shares acquired at $2.44 each — cost $244,000 (M).
• Additional derivative conversion: 100,000 shares reported as disposed with $0 exercise price (M).
• Plan/authorization: Transactions effected under a Rule 10b5-1 trading plan adopted Dec 23, 2025 (F1).
• Vesting: Shares subject to the option are fully vested and exercisable (F3).
• Shares owned after the transactions: not disclosed in the information you provided.
• Timeliness: Reported for the same date as the transactions (Period of Report 2026-07-15); filing appears timely.

Context

• This filing shows an option exercise combined with an open-market sale (commonly a cashless exercise or exercise followed by sale). Because the trade was executed under a pre-established 10b5-1 plan, it was pre-scheduled rather than a necessarily discretionary, contemporaneous sale by the insider.
• For retail investors: purchases are generally viewed as stronger bullish signals than sales. This report documents a sizable insider sale but does not, by itself, reveal the insider’s motivations (tax planning, diversification, liquidity, etc.).