Esaka Fumihide 4

What Happened

• CEO Fumihide Esaka exercised stock options on 2025-10-07 to acquire 53,660 shares at $5.88 per share, paying $315,521 in total. The Form 4 also reports a contemporaneous disposition/conversion of the same 53,660 shares at $0 (recorded as a derivative transaction, code M).

Key Details

• Transaction date: 2025-10-07; Form 4 filed: 2026-02-10 (filed ~4 months after the transaction).
• Exercise price paid: $5.88 per share; total cash paid: $315,521.
• Shares acquired: 53,660; same number shown as converted/disposed as a derivative at $0.
• Transaction code: M (exercise or conversion of a derivative).
• Footnote: The option vested on a schedule that began Dec 1, 2016 (1/4 then monthly 1/48 increments) and was early exercisable but subject to the issuer’s right to repurchase (F1). This repurchase right likely explains the immediate $0 disposal/conversion entry.
• Shares owned after the transaction: not specified in the provided data.

Context

• This filing documents an option exercise (a form of acquiring shares) rather than an open-market buy or sale. The simultaneous $0 disposal/conversion is consistent with early exercise terms that allow the company to repurchase shares; it does not necessarily indicate an open-market sale. The Form 4 was filed months after the transaction, which is later than the typical 2-business-day reporting window.