El-Ahmadi Siraj Nour 4

What Happened
Director Siraj El‑Ahmadi reported the conversion/vesting of RSUs and related share dispositions. RSUs vested on 2026-03-31 (20,161 shares converted), and on 2026-04-07 he sold 54,536 shares in the open market for a weighted average price of $7.76, generating approximately $423,199. The filings also show a 20,161‑share disposition on 2026-03-31 recorded at $0.00, consistent with shares withheld or transferred for tax obligations associated with the vesting.

Key Details

• Transaction dates: conversions/vesting recorded 2026-03-31; open-market sale on 2026-04-07.
• Sale: 54,536 shares sold at a weighted average price of $7.76 (range $7.615–$7.92); proceeds ≈ $423,199.
• Derivative activity: 20,161 shares were reported as acquired via exercise/conversion (code M) on 2026-03-31; a matching 20,161‑share disposition at $0.00 on 2026-03-31 is also reported (tax withholding/settlement).
• Footnotes: F1 = RSUs convert 1:1 to common shares; F2 = sale was to cover tax obligations from vesting; F3 = sale price is a weighted average across multiple trades; F4 = these RSUs were granted under the 2025 plan with scheduled vesting (20,162 vested 7/15/25; 20,161 vested 9/30/25, 12/31/25, and 3/31/26).
• Shares owned after transaction: Not specified in the provided excerpt.
• Filing timeliness: Form filed 2026-04-07; the 3/31 vesting/conversion was reported on 4/7, which appears beyond the standard two-business-day Form 4 filing window (may indicate a late report).

Context
These transactions reflect vested RSUs being converted to shares and then used to satisfy tax obligations, with an additional open‑market sale to cover remaining taxes. Such sales tied to tax withholding are routine and do not necessarily indicate a change in the insider’s view of the company. The derivative code M indicates conversion/exercise of an award (RSU settlement), and the $0.00 disposition typically reflects shares withheld or surrendered to cover taxes rather than a market sale.