Ethos (LIFE) CEO Peter Colis Sells 70,000 Shares for ~$2.7M

What Happened

• Peter G. Colis — CEO (also Secretary and a Director) — converted 70,000 shares of Class B common into Class A common stock and sold those 70,000 shares in multiple open‑market transactions between Sept 16 and Sept 18, 2026. The sales generated aggregate proceeds of approximately $2,695,425.
• Breakdown by date (sales only):
  • Sept 16: 21,363 shares @ $39.77 ($849,607) and 1,971 shares @ $40.35 ($79,530).
  • Sept 17: 1,900 shares @ $37.69 ($71,611), 21,118 shares @ $38.94 ($822,335), and 315 shares @ $39.67 ($12,496).
  • Sept 18: 7,190 shares @ $35.98 ($258,696), 9,648 shares @ $37.05 ($357,458), and 6,495 shares @ $37.52 ($243,692).
• The conversion entries (three C-code transactions totaling 70,000 shares) are recorded at $0.00 proceeds because they reflect conversion of Class B into Class A, not a cash sale.

Key Details

• Transaction dates: Sept 16–18, 2026. Form filed Sept 18, 2026 (appears timely under Section 16 reporting rules).
• Total sold: 70,000 shares for ~ $2.70M in aggregate proceeds.
• Conversions: 70,000 Class B → Class A conversions recorded (these enabled the open‑market sales). Per the filing, Class B shares are convertible into Class A at the holder’s option and may convert automatically on sale (see footnote F1).
• Trading plan: At least one sale was executed under a pre-established Rule 10b5‑1 trading plan (footnote F3), meaning it occurred according to a prior plan rather than a contemporaneous discretionary decision.
• Price reporting: Several sales reported as weighted-average prices with per-trade price ranges provided in footnotes (see F4–F10).
• Ownership/vehicles: Some shares are held in trusts (Colis Zhan Family Trust and others) and the Reporting Person is a trustee (see F12–F14). The filing shows conversions and sales; the filing excerpt does not state the Reporting Person’s full post-transaction aggregate holdings.

Context

• Conversion entries are derivative-related (not cash proceeds); they reflect converting Class B common to Class A common before or simultaneous with sales. Footnote F1 explains Class B conversion mechanics.
• Sales executed under a 10b5‑1 plan are pre-scheduled and are generally considered routine compliance transactions rather than ad‑hoc bets on the stock.
• For retail investors: purchases are typically more informative as bullish signals; these transactions are sales funded by conversions and largely look procedural. The filing is factual and does not imply management’s private view of the company.