Cocks Christian P 4

What Happened

• Christian P. Cocks, CEO of Hasbro, exercised multiple option tranches on Feb 12, 2026 to acquire a total of 181,581 shares (code M) and immediately sold the same 181,581 shares in open-market transactions (code S) that day.
• Exercise tranches (shares @ exercise price; cash paid): 10,279 @ $86.66 ($890,778); 12,915 @ $96.79 ($1,250,043); 13,862 @ $90.18 ($1,250,075); 6,931 @ $96.73 ($670,436); 98,789 @ $94.89 ($9,374,088); 38,805 @ $55.78 ($2,164,543). Total exercise cash outlay ≈ $15,599,963.
• Sales (shares @ weighted avg sale price; proceeds): 100,920 @ $102.63 ($10,357,732); 2,844 @ $103.54 ($294,456); 73,324 @ $105.40 ($7,728,430); 4,493 @ $106.48 ($478,410). Total sale proceeds ≈ $18,859,028.
• The filing also lists corresponding derivative dispositions at $0, which reflect conversion/cancellation of the exercised options.

Key Details

• Transaction date: February 12, 2026; Form 4 filed February 17, 2026 (appears to be filed after the 2-business‑day deadline for Form 4 — i.e., late).
• Transaction codes: M = exercise/conversion of options; S = open-market sale. The exercised shares (181,581) equal the shares sold (181,581), consistent with a cashless exercise/sale to cover exercise and taxes.
• Weighted-average sale price ranges (per footnotes):
  • 100,920 shares sold at a weighted avg $102.63 (individual trades ranged $102.50–$103.49).
  • 2,844 shares at ~$103.54 (range $103.50–$103.5550).
  • 73,324 shares at ~$105.40 (range $105.00–$105.9996).
  • 4,493 shares at ~$106.48 (range $106.0071–$106.9850).
• Notable footnotes: options granted under the company plan have tandem tax‑withholding rights (F5); several tranches show vesting schedules (F6–F11). The filing offers to provide per‑trade price details upon request.
• Shares owned after the transaction: not provided in the excerpt.

Context

• This is a common pattern: an executive exercises vested options and immediately sells the resulting shares (often to cover exercise costs and tax withholding). The equal number of shares exercised and sold and the $0 derivative disposals indicate conversion of options followed by immediate sales.
• Sales by executives are routine and do not necessarily indicate a change in view about the company. Purchases generally carry stronger positive signals; this filing is primarily an option exercise with proceeds‑generating sales.
• If you track insider activity, note the filing date was after the typical 2-business‑day Form 4 deadline, which may be relevant for timeliness monitoring.