SIMILARWEB (SMWB) CEO Offer Or Sells 383,127 Shares After Exercising Options

What Happened
Offer Or, CEO of Similarweb Ltd. (SMWB), exercised stock options to acquire a total of 383,127 shares on 2026-08-26 and sold those shares the same day. The exercises cost roughly $994,386 in aggregate (exercise prices ranged from $0.40 to $3.04). The subsequent open-market sales generated gross proceeds of approximately $3,449,642, producing about $2.45M in net proceeds before taxes and fees.

Key Details

• Transaction date: 2026-08-26 (Form filed 2026-08-27). This appears to be a timely filing (next-business-day filing).
• Option exercises (M) and immediate sales (S) by block:
  • 164,817 shares exercised @ $2.71 (cost $446,654) and sold @ ~$9.00 (proceeds $1,483,452)
  • 39,302 shares exercised @ $2.71 (cost $106,508) and sold @ ~$9.01 (proceeds $354,194)
  • 39,000 shares exercised @ $0.40 (cost $15,600) and sold @ ~$9.00 (proceeds $351,168)
  • 140,008 shares exercised @ $3.04 (cost $425,624) and sold @ ~$9.01 (proceeds $1,260,828)
• Aggregate: 383,127 shares acquired via option exercise (total exercise cost ≈ $994,386) and sold the same day for gross proceeds ≈ $3.45M.
• Footnotes: Options were exercised and underlying shares sold the same date. Reported sale prices are weighted averages across multiple trades (ranges reported in the filing; the filer offers to provide per-trade breakdown on request).
• Shares owned after the transactions are not specified in the provided extract — see the full Form 4 for post-transaction holdings.

Context

• This is a classic exercise-and-sell (cashless-like) pattern: the insider exercised options and immediately sold the resulting shares, locking in proceeds. Such transactions often reflect liquidity/tax planning rather than a directional bet on the stock; they are sales rather than purchases and therefore less commonly interpreted as an outright bullish signal.
• Transaction codes: M = option exercise; S = sale. The filing also shows the derivative positions reduced to $0 as the options were converted into shares and sold.