Buonanno Franck Jean 4

What Happened

• Franck Jean Buonanno, Vice‑President, Global Sales of SEALSQ Corp (ticker: LAES), reported option exercises on 2026-05-11. He exercised options to acquire 20,000 shares at $0.01 per share (total cost $200). The filing also shows a separate derivative disposition of 20,000 shares recorded at $0.00 on the same date.
• The primary action (code M) is an option exercise (an acquisition). The second entry is recorded as a derivative disposition; the filing does not explain the reason for the $0.00 disposition.

Key Details

• Transaction date: 2026-05-11.
• Acquired: 20,000 shares via option exercise at $0.01/share — total $200.
• Disposed/converted: 20,000 shares recorded at $0.00 (derivative disposition).
• Footnote: Exercise was executed under a Rule 10b5-1 trading plan adopted by the reporting person on October 13, 2025.
• Shares owned after the transactions: not stated in this Form 4.
• Filing status: Form filed on 2026-05-11 (no late filing indicated in the report).

Context

• For retail investors: an option exercise is not the same as a market buy — it often reflects exercising vested compensation. The 10b5-1 plan note indicates the exercise followed a prearranged trading plan. The $0.00 derivative disposition is unexplained in the filing and could reflect a conversion, withholding, or other internal action; the Form 4 provides no further detail.