Form 4: ARTIVION Executive Reports Option Exercise, Share Sales

Sentiment:

Insider Transaction Report 12 November 2025 8:12 PM

ARTIVION's SVP, General Counsel, Jean F. Holloway, reported insider transactions involving stock option exercise and share sales under a 10b5-1 plan.

Summary

Jean F. Holloway, SVP, General Counsel of ARTIVION, INC. (AORT), reported transactions involving company common stock and stock options.
On November 10, 2025, 2,960 shares of common stock were sold at $44.619 per share to cover tax withholding obligations related to restricted stock unit vesting. This was a non-discretionary 'sell to cover' transaction.
On November 11, 2025, 10,000 stock options were exercised at a price of $11.03 per share. These options were exercisable as of November 8, 2023, and expire on November 8, 2029.
Also on November 11, 2025, 10,000 shares of common stock were sold at $46.18 per share.
Following these transactions, Jean F. Holloway beneficially owns 169,169 shares of ARTIVION, INC. common stock directly.
All reported transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: While there is insider selling, a significant portion is for tax purposes, and the larger sale follows an option exercise, indicating profit-taking on vested compensation rather than a negative outlook on the company. The pre-planned nature (10b5-1) mitigates negative sentiment.

Positives

The exercise of stock options at a significantly lower price ($11.03) than the market sale price ($46.18) indicates a substantial gain for the insider.
The transactions were pre-planned under a Rule 10b5-1(c) plan, suggesting they are not based on new, non-public information.

Negatives

There was a net reduction in direct beneficial ownership of common stock by 2,960 shares (10,000 shares acquired via option exercise, 12,960 shares sold in total).

Risks

Future Outlook

Management Comments

Industry Context

Comparison to Industry Standards

Management Changes

Role	Previous Person	New Person	Effective Date	Reason

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment

Legal Proceedings

Related Party Transactions

Stakeholder Impact

Shareholders may view the insider selling with slight caution, but the 'sell to cover' and 10b5-1 plan mitigate concerns. The exercise of options and subsequent sale indicates the executive is realizing value from their compensation.

Next Steps

Key Dates

Date	Description
11/08/2023	First exercisable date for the reported stock options.
11/10/2025	Date of sale for 2,960 common shares to cover tax withholding obligations.
11/11/2025	Date of exercise for 10,000 stock options and subsequent sale of 10,000 common shares.
11/12/2025	Signature date of the reporting person on the Form 4 filing.
11/08/2029	Expiration date for the reported stock options.

Recommendation

hold

The filing details routine insider transactions, including a 'sell to cover' for tax obligations and the exercise and sale of stock options under a pre-arranged 10b5-1 plan. While there's a net reduction in direct beneficial ownership, these actions are typical for executives realizing compensation and do not necessarily signal a change in the company's fundamental outlook. Without additional information on the company's performance or strategic direction, these transactions alone do not warrant a change from a 'hold' position.

Keywords

ARTIVION INC, AORT, insider trading, Form 4, stock options, common stock, executive compensation, Jean F. Holloway, SVP General Counsel, Rule 10b5-1, sell to cover, beneficial ownership

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