Ostergaard Torben 4

What Happened

• Torben Ostergaard, listed as CEO (Spinnaker), had 1,438 shares disposed on 2026-04-27 as a payment for tax liability (transaction code F). The shares were valued at $28.21 each for a total of $40,564. This was a tax-withholding/share-surrender, not an open-market sale for cash proceeds.

Key Details

• Transaction date and price: 2026-04-27; 1,438 shares at $28.21 each (total ≈ $40,564).
• Transaction type: F — payment of exercise price or tax liability (share withholding to cover taxes on vested awards).
• Footnote: F1 — "Includes 63,661 RSUs" (the filing notes RSUs are part of the reported holdings/awards).
• Filed: Form 4 dated 2026-04-29 for a 2026-04-27 transaction — appears to be filed within the typical two-business-day window (timely).
• Shares owned after transaction: Not specified in the information you provided; check the full Form 4 for the reporter’s post-transaction holdings.

Context

• This disposal is routine tax withholding related to equity compensation (RSU vesting) rather than a market-directed sale — it generally reflects tax obligations, not necessarily a change in insider sentiment.
• For derivative/compensation transactions like this, the key takeaway for investors is that the insider did not buy shares; they surrendered shares to meet tax obligations.