Sabar Karimah Es 4

What Happened

• Director Sabar Karimah exercised/conversion of a derivative for 7,529 shares (recorded as an "M" transaction) at $3.18 per share (total cost $23,942) and immediately sold those 7,529 shares in an open-market sale at $32.00 per share for $240,928 on 2026-04-02. The filing also records the corresponding disposition of the derivative instrument (7,529 shares, $0.00 value).
• This is a sale of shares following an exercise/conversion — typically routine insider liquidity rather than a new purchase (not a bullish purchase signal).

Key Details

• Transaction date: April 2, 2026; Form 4 filed April 3, 2026 (timely).
• Exercise/Acquisition: 7,529 shares @ $3.18 = $23,942 (transaction code M).
• Sale/Disposition: 7,529 shares @ $32.00 = $240,928 (transaction code S).
• Net proceeds before taxes/fees (proceeds minus exercise cost): roughly $216,986.
• Footnotes: F1 — shares sold pursuant to a 10b5-1 trading plan adopted Dec 2025; F2 — shares vested 1/48th on the first day of each month beginning Feb 1, 2022.
• Shares owned after transaction: not specified in the excerpt of the filing provided.

Context

• For derivative transactions: this filing shows an option/derivative was exercised (incurring the $3.18 per-share cost) and the resulting shares were sold in the open market — effectively a cash exercise followed by immediate sale under a pre-existing 10b5-1 plan.
• The 10b5-1 plan note indicates the sale followed a pre-set trading plan (reduces concerns about opportunistic timing).
• No indication this was a gift or a related-party/10% owner transaction in the provided data.