Haselden Stuart 4

What Happened

• Haselden Stuart (CEO of Arc'teryx Equipment) reported option exercises and open-market sales on 2026-06-01. He exercised 200,000 vested stock options at $12.51 per share (cost $2,502,000) and sold shares in two open-market transactions: 200,000 shares at a weighted average $35.58 (proceeds $7,115,600) and 15,275 shares at a weighted average $35.43 (proceeds $541,166). Total sale proceeds were $7,656,766; net cash proceeds after the option exercise cost were about $5,154,766. The filing also shows a derivative entry for 200,000 shares reported at $0.00, reflecting the option conversion/exercise.

Key Details

• Transaction date: 2026-06-01; Form 4 filed 2026-06-02 (timely).
• Sales: 200,000 shares @ weighted avg $35.58 (proceeds $7,115,600); 15,275 shares @ weighted avg $35.43 (proceeds $541,166). Combined sales = $7,656,766.
• Exercise: 200,000 options exercised @ $12.51 (cash paid $2,502,000).
• Net proceeds (sales minus exercise cost): ~ $5.15M.
• Shares owned after transaction: not reported in the excerpt provided.
• Footnotes: weighted-average sale prices cover multiple executions — one sale ranged $35.32–$35.89, the other $35.33–$35.53. Footnote also notes the exercised options were granted Jan 16, 2021 and fully vested Feb 1, 2024.
• No 10b5-1 plan or tax-withholding details shown in the provided filing excerpt.

Context

• This sequence (exercise of vested options followed by sales on the same date) is commonly a cashless exercise or liquidity event to cover option cost/taxes, but the filing only shows the transactions — it does not state the insider’s motivation.
• For retail investors: purchases can be viewed as stronger bullish signals than sales. Here Stuart acquired underlying shares by exercising options but sold a larger number of shares through open-market sales, resulting in net proceeds to the insider.