Caris Life Sciences (CAI) Vice Chairman Brian J. Brille Exercises and Sells 400K

What Happened
Brian J. Brille, Vice Chairman and Executive Vice President of Caris Life Sciences (CAI), exercised 400,000 fully vested options (code M) on 2026-09-17 at $2.44 per share (cost $976,000) and immediately sold 400,000 shares in the open market (code S) at a weighted average price of $30.33 per share, generating gross proceeds of approximately $12,132,080. The filing also reports a derivative conversion/disposition of 400,000 shares at $0 consistent with the option exercise.

Key Details

• Transaction date: 2026-09-17.
• Exercise: 400,000 shares at $2.44 each = $976,000 (code M). Option fully vested (footnote F4).
• Sale: 400,000 shares sold at weighted avg $30.33 = $12,132,080 (code S). Sale prices ranged $30.21–$30.565 (footnote F1).
• Derivative entry: 400,000 shares disposed at $0 reflecting the exercised derivative (reported as disposed).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Other notes: Reporting person disclaims beneficial ownership except for pecuniary interest (F2). Shares previously held in multiple family trusts were consolidated into a single trust (F3). No late filing indicated (transaction and report dated the same day).

Context
This is a common cashless exercise pattern: the insider exercised vested options and sold the resulting shares immediately, converting option value to cash. The exercise required an outlay (~$976k); the subsequent sale realized gross proceeds of about $12.13M (pre-tax and before any withholdings). Such transactions are factual records of insider selling activity and do not, by themselves, indicate the insider’s future view of the company.