Bilbo Patrick 4

What Happened

• Bilbo Patrick, Chief Operating Officer of Organogenesis (ORGO), had a total of 64,414 shares disposed on Feb 15, 2026 as payment of tax liabilities (transaction code F). The filings show four withheld lots: 5,114; 28,331; 15,617; and 15,352 shares, each at $3.73 per share, with aggregate value of approximately $240,264.
• These transactions are tax-withholding dispositions (sell-to-cover) related to prior option exercises or equity vesting rather than open-market sales — generally routine and not a direct signal of personal bearish sentiment.

Key Details

• Transaction date: Feb 15, 2026; Price: $3.73 per share for all lots.
• Shares disposed: 5,114 / 28,331 / 15,617 / 15,352 (total 64,414).
• Total value of shares withheld: ~$240,264.
• Transaction code: F — payment of exercise price or tax liability (shares withheld to satisfy taxes).
• Filing: Form 4 filed Feb 18, 2026 (timely — within the required two business days given Feb 16 was a market holiday).
• Shares owned after transaction: not specified in the excerpt provided; see the full Form 4 for post-transaction beneficial ownership.
• Accession: 0002064832-26-000030 (see full filing for any footnotes or related option exercise records).

Context

• For retail investors: “F” disposals are typically administrative — shares withheld to cover tax on option exercises or vested awards. They differ from voluntary open-market sales and are commonly routine following an exercise or vesting event.
• If you want to assess insider conviction, look for purchases or open-market sales (codes P or S) and review the executive’s remaining holdings and history of trades in the full Form 4.