Alpern Paul L 4

What Happened

• Paul L. Alpern, Vice President and General Counsel of Arteris, exercised a total of 6,500 option-derived shares and sold 6,500 shares in open-market transactions on July 1, 2026.
  • Exercises (acquired): 4,000 shares @ $0.56 = $2,240; 2,500 shares @ $9.28 = $23,200 (total exercise cost $25,440).
  • Sales (disposed): 2,096 shares @ $44.02 = $92,262; 983 shares @ $45.08 = $44,313; 2,521 shares @ $46.23 = $116,537; 900 shares @ $47.11 = $42,402 (total sale proceeds ≈ $295,514).
• The one‑for‑one match of 6,500 exercised and 6,500 sold indicates the exercised shares were largely sold immediately (a common cashless/near‑simultaneous disposition), but the filing is factual and does not state motivation.

Key Details

• Date: July 1, 2026 (Form 4 filed July 2, 2026 — timely).
• Transaction codes: M = exercise/conversion of derivatives; S = open‑market sale.
• Sales were made pursuant to a 10b5‑1 trading plan adopted February 23, 2026 (Footnote F1).
• Reported sale prices are weighted averages; individual trades ranged:
  • 2,096 shares: $43.70–$44.69 (F2)
  • 983 shares: $44.81–$45.79 (F3)
  • 2,521 shares: $45.815–$46.51 (F4)
  • 900 shares: $46.85–$47.50 (F5)
• The filing shows separate derivative entries reported as "disposed" at $0, reflecting conversion/settlement of the option instruments (recorded as derivative transactions).
• Shares owned after the transactions are not specified in the provided excerpt of the filing.
• Vesting notes in the filing (F6, F7) describe the original option vesting schedules for the exercised grants.

Context

• This was an option exercise followed by sales (effectively monetizing vested options). Such transactions are routinely reported by insiders; purchases tend to be more indicative of bullish sentiment, while exercises + sales often reflect vesting and cash‑out activity.
• The 10b5‑1 plan note means the sales were made under a pre‑arranged trading plan, which helps insulate the trades from insider‑information timing issues.