Miclot Andrew J. 4

What Happened
Andrew J. Miclot, a director of Precision Optics Corporation (POCI), exercised options to acquire 20,000 shares on 2026-03-12. He paid an exercise price of $1.44 per share (total $28,800). To cover tax withholding, 6,372 of the newly issued shares were surrendered at an indicated tax withholding value of $4.52 per share (total ~$28,801). The result: 13,628 net shares delivered to Miclot (market value ≈ $61,599). The filing also shows the derivative (the option) was converted/disposed in the exercise (reported as a $0.00 disposition of the derivative instrument).

Key Details

• Transaction date: 2026-03-12; Form 4 filed 2026-03-16 (filed 4 days after the transaction; Form 4s are typically due within two business days, so this appears late).
• Exercise: 20,000 shares (code M) acquired at $1.44/share — $28,800 total.
• Tax/withholding: 6,372 shares (code F) disposed at $4.52/share — $28,801 total (shares surrendered to cover tax liability).
• Derivative disposition: 20,000 (code M) reported disposed at $0.00 to reflect option conversion.
• Net shares received: 13,628 shares (20,000 − 6,372). Approximate market value of net shares: $61,599.
• Shares owned after transaction: Not disclosed in this filing.
• Notable footnote: The filing structure indicates a cashless-style exercise where shares were withheld to satisfy tax obligations (code F).

Context

• This was an option exercise (derivative conversion). The withholding of shares to cover taxes is routine and commonly reported as a disposition (code F).
• Such filings document the mechanics (exercise, tax withholding) rather than a market-direction trade; withheld-share transactions are administrative and do not necessarily signal the insider’s market view.