BERNSTEIN DANIEL 4

What Happened

• Daniel Bernstein, a reported 10% owner of Bel Fuse, sold 6,667 shares in an open-market transaction on March 16, 2026 at $203.21 per share, for proceeds of $1,354,801.
• The filing also shows Mr. Bernstein was granted 1,429 restricted shares of Class B common stock on March 15, 2026 (acquisition price reported as $0.00). Those restricted shares vest in three installments: 476 shares on 3/15/2027, 476 shares on 3/15/2028, and 477 shares on 3/15/2029.
• The sale is a disposed holding (routine liquidity) while the restricted-share grant is a compensation/award-style acquisition.

Key Details

• Transaction dates and prices:
  • 2026-03-15: Award of 1,429 restricted shares @ $0.00 (acquisition).
  • 2026-03-16: Open-market sale of 6,667 shares @ $203.21 each, total $1,354,801.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes:
  • F1: Number of shares held in the 401(k) plan is estimated.
  • F2: Vesting schedule for the 1,429 restricted shares — 476 on 3/15/2027, 476 on 3/15/2028, 477 on 3/15/2029.
• Filing timeliness: Form filed March 17, 2026 covering transactions on March 15–16, 2026; appears timely based on provided dates.
• No 10b5‑1 plan, tax-withholding sale, or cashless exercise noted in the provided details.

Context

• As a 10% owner, Bernstein is a substantial shareholder rather than necessarily an executive; institutional or large-owner trades can reflect portfolio decisions or liquidity needs rather than a CEO/director signaling.
• The restricted-share grant is subject to multi-year vesting, so those shares are not immediately tradable until they vest per the schedule. The open-market sale was a straightforward disposal of shares.