Sauer Noel 4

What Happened
Noel Sauer, Senior Vice President of Research at Cibus, reported two dispositions of company stock. On 2025-06-13 Sauer sold 4 shares in an open-market or private sale at $1.49 each (≈ $6). On 2025-11-11 1,834 shares were disposed at $1.32 each (≈ $2,421) to satisfy a tax liability (withholding). Total shares disposed: 1,838 for roughly $2,427. These were sales/withholdings (not purchases), which are often routine and do not necessarily signal a change in insider sentiment.

Key Details

• Transaction dates and prices:
  • 2025-06-13: Sale (S) — 4 shares @ $1.49 = ~$6
  • 2025-11-11: Tax withholding/payment (F) — 1,834 shares @ $1.32 = ~$2,421
• Total disposed: 1,838 shares for ~ $2,427.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes/transaction codes: F indicates shares were disposed to pay an exercise price or tax liability (typical withholding after exercise/vesting); S indicates a sale.
• Filing timeliness: Form 4 was filed 2026-03-18, which is several months after the reported transactions (appears late vs. the typical 2-business-day Form 4 deadline).

Context
An F-code disposition usually reflects tax withholding after an option exercise or restricted share vesting — the company withholds (or transfers) shares to cover taxes rather than the insider actively selling for cash. Small open-market sales (like the 4-share sale) are often routine. Purchases tend to be more informative for bullish signals; these transactions are disposals and should be interpreted cautiously. Check the full Form 4 for exact post-transaction holdings and any related past option exercises or grants.