Form 4: LMAT CEO George LeMaitre Exercises Options, Adjusts Holdings

Sentiment:

Insider Trading Report 15 December 2025 6:14 PM

LEMAITRE VASCULAR INC's Chairman and CEO, George W. LeMaitre, reported multiple transactions including option exercises, RSU/PSU vestings, and a gift to a trust.

Summary

George W. LeMaitre, Chairman and CEO of LEMAITRE VASCULAR INC, reported several transactions in December 2025.
He acquired a total of 26,225 shares of common stock through the exercise of stock options at prices ranging from $37.29 to $54.65.
An additional 132 shares were acquired from the release of dividend equivalent rights at a $0 price.
A total of 1,978 shares were disposed of to satisfy tax withholding obligations incurred upon the vesting of restricted stock units (RSUs) and performance stock units (PSUs) at prices of $83.36 and $84.00.
12,100 shares were gifted to the LEMAITRE IRREVOCABLE LIFE INSURANCE TRUST OF 2025, which then acquired these shares indirectly.
Direct beneficial ownership increased by 12,145 shares, from 1,670,159 to 1,682,304 shares, following these transactions.
Indirect beneficial ownership through the LEMAITRE IRREVOCABLE LIFE INSURANCE TRUST OF 2025 stands at 33,400 shares.

Sentiment

Score: 7

Explanation: The Chairman and CEO exercised a substantial number of options, increasing his direct beneficial ownership, which generally signals confidence in the company's future. However, a portion of shares were sold to cover tax obligations and a significant block was gifted to a family trust, which are common practices for executives.

Positives

The Chairman and CEO exercised a substantial number of stock options (26,225 shares), indicating continued confidence in the company's future value.
Direct beneficial ownership increased by 12,145 shares, further aligning management's interests with shareholders.
The exercise prices of the options ($37.29 to $54.65) are significantly below the market prices at which shares were disposed for tax withholding ($83.36 and $84.00), suggesting a favorable spread for the executive.

Negatives

1,978 shares were disposed of to cover tax withholding obligations, representing a reduction in direct holdings.
12,100 shares were gifted to a family trust, moving them from direct personal control to indirect family ownership.

Future Outlook

Industry Context

Related Party Transactions

A gift of 12,100 shares of common stock was made to the LEMAITRE IRREVOCABLE LIFE INSURANCE TRUST OF 2025, which is established for the benefit of the Reporting Person's child(ren).

Stakeholder Impact

Shareholders: The net increase in the CEO's direct beneficial ownership could be viewed positively as it further aligns his interests with those of other shareholders. The gift to a trust represents long-term family estate planning for the shares.
Employees: No direct impact mentioned.
Customers: No direct impact mentioned.
Suppliers: No direct impact mentioned.
Creditors: No direct impact mentioned.

Key Dates

Date	Description
12/02/2020	Date exercisable for a fully vested stock option.
12/11/2021	Grant date of a restricted stock unit award related to dividend equivalent rights and tax withholding; also a date exercisable for a fully vested stock option.
12/12/2022	Grant date of restricted stock unit and performance stock unit awards related to dividend equivalent rights and tax withholding.
12/08/2023	Date exercisable for a stock option vesting over four years.
12/11/2025	Transaction date for acquisition of 54 common shares and disposition of 652 common shares.
12/12/2025	Transaction date for multiple option exercises, dividend equivalent rights releases, share gifts, and tax withholdings.
12/15/2025	Signature date of the reporting person's attorney-in-fact.
12/02/2027	Expiration date for a stock option.
12/11/2028	Expiration date for a stock option.
12/12/2029	Expiration date for a stock option.
12/08/2030	Expiration date for a stock option.

Recommendation

hold

The filing details routine insider transactions, including option exercises and tax-related sales, by the CEO. While the option exercises demonstrate continued confidence, the overall activity does not present new information that would fundamentally alter the investment thesis for LEMAITRE VASCULAR INC. Therefore, a 'hold' recommendation is appropriate as these transactions are largely expected for an executive.

Keywords

LEMAITRE VASCULAR INC, LMAT, Insider Trading, Form 4, Stock Options, RSU, PSU, CEO, George W. LeMaitre, Beneficial Ownership, Equity Transactions

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