Form 4: CPS Technologies Director Thomas Culligan Exercises Options and Sells Shares
SEC Form 4
Director Thomas Culligan exercised stock options and sold shares of CPS Technologies Corp on July 3, 2024.
Summary
- On July 3, 2024, Thomas Culligan, a director of CPS Technologies Corp, exercised stock options to acquire 60,000 shares of common stock.
- These options were exercised at prices of $1.58, $1.53, $1.40, and $1.49.
- Concurrently, Culligan disposed of shares to cover tax obligations, resulting in the disposal of 14,024, 13,580, 12,426 and 13,225 shares at a price of $1.69.
- Following these transactions, Culligan directly owns 16,745 shares of common stock.
- Culligan also owns options to purchase 53,100 shares at $1.49, 68,100 shares at $1.40, 83,100 shares at $1.53 and 98,100 shares at $1.58.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider trading activity. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of insider trading activity, which is common for publicly traded companies. It provides transparency into the actions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increase in the number of shares outstanding and potential dilution.
- The disposal of shares to cover tax obligations could slightly decrease the share price.
Key Dates
| Date | Description |
|---|---|
| 02/17/2017 | Date when options exercisable for 15,000 shares at $1.58 |
| 02/23/2018 | Date when options exercisable for 15,000 shares at $1.53 |
| 02/15/2019 | Date when options exercisable for 15,000 shares at $1.40 |
| 03/03/2020 | Date when options exercisable for 15,000 shares at $1.49 |
| 07/03/2024 | Date of transaction: exercise of stock options and disposal of shares |
| 07/08/2024 | Date of signature on the Form 4 |
| 02/17/2027 | Expiration date for options for 15,000 shares at $1.58 |
| 02/23/2028 | Expiration date for options for 15,000 shares at $1.53 |
| 02/15/2029 | Expiration date for options for 15,000 shares at $1.40 |
| 03/03/2030 | Expiration date for options for 15,000 shares at $1.49 |
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