Chairman David 4

What Happened David (SVP, R&D) exercised stock options and sold shares on May 13, 2026. He exercised 4,000 options at $0.86 per share (cost $3,440) and sold 4,000 shares in the market at a weighted average price of $2.98 for total proceeds of $11,924. The exercise and sale occurred the same day, so this was effectively a cashless exercise followed by a sale; the net pre-tax gain on those shares was roughly $8,484.

Key Details

• Transaction date: May 13, 2026.
• Option exercise: 4,000 shares at $0.86/share (total cost $3,440). (Footnote: shares acquired upon exercise of stock options.)
• Sale: 4,000 shares sold at a weighted average price of $2.98/share for $11,924. (Footnote: sale effected under a Rule 10b5-1 trading plan adopted Aug 16, 2024.)
• Additional derivative entry: a related option conversion/disposition was reported at $0.00 in the filing; footnotes indicate the options were exercised and the underlying shares sold on the same date.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timeliness: Report covers 2026-05-13 and was filed 2026-05-14 (timely).

Context This sequence — exercising options and immediately selling the resulting shares under a pre-established 10b5-1 plan — is a common way insiders monetize option gains and is generally treated as routine rather than a directional vote of confidence. For retail investors, purchases by insiders are typically more informative about sentiment than routine option exercises and sales.