Song Lin 4

What Happened
Song Lin, CEO of Opera Ltd (OPRA), sold a total of 70,000 American Depositary Shares (ADSs) in open‑market transactions: 25,600 ADSs on June 17, 2026 at a weighted average price of $18.88 ($483,328) and 44,400 ADSs on June 18, 2026 at a weighted average price of $18.52 ($822,288), for aggregate proceeds of approximately $1,305,616. These were disposals (sales), which are often routine and do not by themselves indicate management’s view of the company’s prospects.

Key Details

• Transaction dates: June 17, 2026 (25,600 ADSs @ $18.88 WAP) and June 18, 2026 (44,400 ADSs @ $18.52 WAP).
• Total proceeds: ~$1,305,616.
• Sale type: Open market or private sale (Code S).
• ADS note: Each ADS represents one ordinary share of the issuer (Footnote F1).
• Price ranges: June 17 sales occurred at prices between $18.70 and $19.15; June 18 sales between $18.14 and $18.82. The reported prices are weighted averages; the reporting person can provide per‑price breakdown on request (Footnote F2).
• Filing: Form 4 was filed on June 22, 2026 reporting the June 17–18 trades. This filing date is several days after the transactions and is outside the typical two‑business‑day Form 4 window; review the filing for any timeliness designation or explanation.
• Exemption note: The issuer is a foreign private issuer and the reporting person is exempt from Section 16(b) short‑swing profit recovery under Rule 3a12‑3 (Remarks).

Context
This report documents outright sales (disposals), not purchases, option exercises, or grants. Sales by executives can be routine (diversification, tax planning, etc.); they are factual records of insider liquidity rather than a direct signal of company performance. If you follow insider activity, purchases typically carry more weight as potential positive signals.