PISKEL KYLE 4

What Happened

• Kyle Piskel, Chief Financial Officer of Adaptive Biotechnologies (ADPT), exercised 2,145 stock options at $12.14 per share (total exercise cost $26,040) and sold the 2,145 resulting shares in an open‑market transaction at $18.46 per share for gross proceeds of $39,597 on February 4, 2026. The transaction produced a pre‑tax net difference of about $13,557. The filing shows the option/derivative was converted (reported as disposed at $0) as part of the exercise.

Key Details

• Transaction date: 2026-02-04; Form 4 filed: 2026-02-06 (filed within the two‑business‑day reporting window).
• Exercise: 2,145 shares @ $12.14 (M — option exercise), total $26,040.
• Sale: 2,145 shares @ $18.46 (S — open market sale), gross proceeds $39,597.
• Derivative line: 2,145 options reported disposed at $0, reflecting conversion of the option into shares upon exercise.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes: Transaction was executed under a Rule 10b5‑1 trading plan adopted August 28, 2025 (F1). The options follow a vesting schedule: 1/4 vested March 4, 2023, then 1/48 each month thereafter until fully vested (F2).

Context

• This was an exercise followed by an immediate sale (a cashless-like sequence), meaning the insider converted options into shares and sold them the same day rather than holding additional stock. Such transactions are often routine or plan‑based; the filing notes they were made under a pre‑arranged 10b5‑1 plan.