Pappis Charles C 4

What Happened Charles C. Pappis, a director of ACM Research (ACMR), exercised 5,000 stock options on March 5, 2026 at an exercise price of $29.18 per share (total cost $145,900). He sold 5,000 shares the same day in an open-market transaction at $50.09 per share, generating gross proceeds of $250,450. The Form 4 shows the related derivative (the option) was converted/disposed upon exercise.

Key Details

• Transaction date: March 5, 2026. Filing date: March 9, 2026 (timely — within 2 business days).
• Exercise: 5,000 shares acquired at $29.18 each — total $145,900 (transaction code M).
• Sale: 5,000 shares sold at $50.09 each — total proceeds $250,450 (transaction code S).
• Footnotes: (F1) option exercise to purchase 5,000 shares; (F2) sale effected under a Rule 10b5-1 trading plan adopted Nov 20, 2025; (F3) option was fully vested and exercisable.
• Shares owned after the transaction: not specified in the supplied filing.

Context

• This was an exercise of vested options followed by an immediate sale of the acquired shares the same day — a common pattern that can be effectively a cashless exercise (convert option to shares then sell).
• The sale was carried out under a pre-established 10b5-1 plan, which typically means the trades were pre-scheduled and not ad hoc market-timing decisions.
• Filing was timely, and the transactions are routine insider activity; facts above are drawn directly from the Form 4.