GSI Tech (GSIT) Senior VP Patrick Chuang Sells 40,000 Shares

What Happened

• Patrick T. Chuang, Senior Vice President, Memory Design at GSI Technology (GSIT), exercised options to acquire 40,000 shares at $6.70 each (cost $268,000) and sold 40,000 shares in the open market on May 12, 2026 for total gross proceeds of approximately $427,088. The transactions were reported on Form 4 filed May 13, 2026.

Key Details

• Transaction date: May 12, 2026.
• Exercise: 40,000 shares at $6.70 per share (total cost $268,000).
• Sale: 40,000 shares sold at a weighted-average price of $10.68 (total proceeds ≈ $427,088). Footnote: sale prices ranged from $10.52 to $10.80; the reported $10.68 is a weighted average.
• Net cash difference before taxes/fees (sale proceeds minus exercise cost): ≈ $159,088.
• The filing also lists a derivative disposition of 40,000 shares at $0.00; the Form 4 does not provide further detail on that line.
• Filing timeliness: Transaction reported the next day (filed May 13 for May 12 transactions), not indicated as late.

Context

• This pattern—exercising options and selling the same number of shares on the same day—is commonly a cashless exercise (convert options to shares and immediately sell to realize value). The filing shows exercise and contemporaneous sale, which provides liquidity to the insider rather than a net increase in long-term holding.
• No 10b5-1 plan, tax-withholding method, or total post-transaction ownership amount is specified in the provided summary, so the filing doesn’t state how many GSIT shares Chuang holds after these trades.