BENZENO SHARON 4

What Happened

• Sharon Benzeno, Chief Commercial Officer, Immune Medicine at Adaptive Biotechnologies (ADPT), exercised stock options and sold shares in late June 2026. She exercised options totaling 114,329 shares (various strike prices) for aggregate exercise cost of $885,555, and sold a total of 165,802 shares in open-market transactions for aggregate gross proceeds of about $3,503,510. The transactions were reported as option exercises (transaction code M) and sales (transaction code S).
• Key executed actions: 6/26/2026 — exercised 11,034 options at $12.14 and sold 11,034 shares at a weighted avg $21.00 (≈ $231,714). 6/29/2026 — multiple option exercises (1,837 @ $12.14; 24,944 @ $8.46; 24,944 @ $3.99; 51,570 @ $8.12) and an open-market sale of 154,768 shares at a weighted avg $21.14 (≈ $3,271,796). Net proceeds before taxes/fees ≈ $2.62M (sales minus exercise costs).

Key Details

• Transaction dates and prices:
  • 2026-06-26: Exercised 11,034 shares @ $12.14 (acq $133,953) and sold 11,034 shares @ weighted $21.00 (≈ $231,714).
  • 2026-06-29: Exercised 1,837 @ $12.14, 24,944 @ $8.46, 24,944 @ $3.99, 51,570 @ $8.12 (combined acq cost $751,602 on 6/29), and sold 154,768 shares @ weighted $21.14 (≈ $3,271,796).
• Shares sold: 165,802 total (11,034 + 154,768) for ≈ $3.50M in gross proceeds.
• Shares acquired by exercise: 114,329 shares with total exercise cost $885,555.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Transactions were effected pursuant to a Rule 10b5-1 trading plan adopted Dec 12, 2025.
  • F2/F3: Reported sale prices are weighted averages across multiple trade prices (ranges disclosed in footnotes); detailed breakdowns are available upon request.
  • F4–F7: Footnotes describe vesting status/schedules for the options (some options were fully vested; others vested per monthly schedule).
• Filing timeliness: Report filed 2026-06-30 for transactions through 2026-06-29 — appears timely (no late filing flag indicated).

Context

• These filings show options were exercised (M) and shares were sold (S). Exercising options and then selling the resulting shares is a common way for insiders to realize gains; because sales were done under a prearranged 10b5‑1 plan, they were likely scheduled in advance rather than timed to new company developments.
• Transaction codes: M = option exercise/conversion; S = open-market sale. This is insider liquidity rather than an outright open-market purchase (not a bullish purchase signal).