Chairman David 4

What Happened
David (Chairman; SVP, R&D) exercised 400 stock options and immediately sold the 400 underlying shares on April 22, 2026. He paid $0.86 per share to exercise (total exercise cost $344) and sold the shares in an open-market sale at $1.65 per share for total gross proceeds of $660 — yielding approximately $316 in net proceeds before fees and taxes. The transactions were reported on a Form 4 filed April 23, 2026.

Key Details

• Transaction date: April 22, 2026; Form 4 filed April 23, 2026 (timely reporting).
• Exercise: 400 options exercised at $0.86/share (total $344).
• Sale: 400 shares sold in open market at $1.65/share (total $660).
• Net proceeds (approx.): $660 − $344 = $316 (before fees/taxes).
• Shares owned after transaction: not provided in the excerpt.
• Footnotes: sale executed under a Rule 10b5-1 trading plan adopted Aug 16, 2024; the shares sold were those acquired upon exercise the same day (i.e., exercise and sale occurred same date).

Context
This was a cashless-type transaction where options were exercised and the resulting shares were immediately sold the same day — a routine way for insiders to monetize vested options. The sale was made under a pre-established 10b5-1 trading plan, which typically sets predetermined terms for insider sales and aims to avoid trading based on nonpublic information. The filing contains no indications of gifts or other unusual transfers.