Schrodinger (SDGR) Karen Akinsanya Exercises Options, Sells Shares

What Happened Karen Akinsanya — President, Head of Therapeutics R&D and Chief Strategy Officer, Partnerships at Schrodinger (SDGR) — exercised 31,599 option-derived shares and immediately sold the same 31,599 shares in open-market transactions on September 17, 2026. The exercise price was $4.34 per share (exercise cost ≈ $137,140). She sold 10,000 shares at $28.00 ($280,000) and 21,599 shares at $30.00 ($647,970), for total gross proceeds of about $927,970. The sequence effectively results in a cash-out (cashless-style) of the exercised position.

Key Details

• Transaction date: 2026-09-17; Form 4 filed 2026-09-21 (timely).
• Exercise: 31,599 shares at $4.34 → acquisition cost ≈ $137,140 (code M).
• Sales: 10,000 shares @ $28.00 = $280,000; 21,599 shares @ $30.00 = $647,970 (total ≈ $927,970) (code S).
• Net effect on beneficial ownership from these entries: no net change (31,599 shares acquired via exercise then 31,599 sold).
• Footnotes: Transactions were made under a Rule 10b5-1 trading plan adopted Nov 11, 2025 (F1). Filing notes 63,545 unvested RSUs remain included in holdings (F2). The exercised option was granted Nov 29, 2018 and is fully vested (F3).

Context

• This is an exercise-and-sell sequence (often a cashless exercise): the insider converted options into shares and sold those shares in the open market the same day.
• The trades were executed under a pre-established 10b5-1 plan, which generally indicates the sales were preplanned rather than immediate discretionary trading.
• These transactions are routine insider activity to monetize vested equity and, by themselves, do not necessarily indicate a change in the executive’s view of the company.