Rhodes Ryan 4

What Happened

• Rhodes Ryan, Chief Executive Officer of EDAP TMS SA (EDAP), received awards on May 12, 2026: 304,500 shares (awarded common/ordinary shares or awards convertible to shares) and 390,000 derivative awards (grants tied to common stock such as RSUs/options). Both grants were recorded as awards (Form 4 code "A") and were acquired for $0.00 (no cash paid at grant).
• These are compensation awards rather than open-market purchases or sales — not an immediate cash investment signal. The awards create potential future share ownership subject to vesting/exercise rules.

Key Details

• Transaction date: May 12, 2026; Form 4 filed May 13, 2026 (timely filing).
• Reported quantities: 304,500 shares @ $0.00 (acquired); 390,000 derivative awards @ $0.00 (acquired).
• Vesting/exercise notes:
  • RSUs: Per the filing, certain restricted stock units (RSUs) granted on May 12, 2026 vest one-half on the second anniversary and the remainder in equal semiannual installments through the fourth anniversary. Each RSU converts to one share upon settlement.
  • Options: Options granted on May 12, 2026 vest in stages (one-sixth after six months, then monthly over the next ~2.5 years). The option exercise price shown in the filing was €3.54, converted to approximately $4.17 per share (EUR 1 = USD 1.1784).
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Filing timeliness: The Form 4 was filed the day after the grants — within the standard reporting window (timely).

Context

• RSUs represent a right to receive shares in the future once vested; they are not immediate cash purchases and typically reflect compensation. Options give the holder the right to buy shares at a set exercise price over time once vested.
• Because these are awards (not sales), they do not by themselves indicate buying pressure or a CEO disposition of shares — they expand potential future insider ownership if/when vested and exercised.