Evans Bronwyn 4

What Happened

• Evans Bronwyn, a director of EBR Systems, exercised in‑the‑money derivative rights on June 29, 2026 to acquire 27,579 shares at a strike/price of $3.80 per share, for a reported cash payment of $104,800. The filing also records parallel derivative entries showing acquisition and disposition of 27,579 units at $0.00 (derivative), which relate to CDIs (Chess Depositary Interests) described in the footnotes.

Key Details

• Transaction date: 2026-06-29; Form 4 filed 2026-07-01 covering that transaction date.
• Main cash exercise: 27,579 shares acquired at $3.80 each = $104,800.
• Additional derivative entries: 27,579 acquired @ $0.00 and 27,579 disposed @ $0.00 (derivative) reported in the filing.
• Shares owned after the transaction: not specified in the provided filing details.
• Footnotes: F1/F4 note these shares relate to CDIs traded on the ASX and held by CHESS Depositary Nominees; F2 says CDIs were issued in connection with an entitlement/rights offering; F3 indicates the reported price is in Australian dollars.
• Filing timeliness: Form filed July 1, 2026 for a June 29 transaction; no late‑filing indication provided in the supplied data.

Context

• This was an exercise of a derivative (option/rights), not a clear open‑market buy or sell. The presence of zero‑price derivative acquisition and disposal lines and the CDI footnotes suggest internal conversion/transfer activity related to CDIs on the ASX rather than an immediate market sale. The filing does not show an open‑market sale of the newly acquired shares.
• For retail investors: exercises are often routine (e.g., to convert options into shares) and do not by themselves signal a clear change in insider sentiment; purchases for cash can be viewed as a direct insider investment, while derivative conversions/CDI mechanics are administrative and should be interpreted with caution.