Form 4: Sono-Tek Director Donald Mowbray Exercises Options and Sells Shares to Cover Costs
SEC Form 4
Director Donald Mowbray exercised stock options and sold a portion of the acquired shares to cover the exercise costs on February 26, 2024.
Summary
- On February 26, 2024, Donald Mowbray, a director of Sono-Tek Corp, exercised vested stock options.
- He exercised options to acquire 10,000 shares at $3.70, 4,841 shares at $3.19, and 1,485 shares at $5.50.
- To cover the cost of exercising these options, Mowbray surrendered 6,503 shares at $5.69 and 2,714 shares at $5.69 and 1,435 shares at $5.69.
- Following these transactions, Mowbray directly owns 64,864 shares of Sono-Tek Corp common stock.
- He also holds options to acquire 6,700 shares at $5.5, 8,185 shares at $3.19 and 13,026 shares at $3.7.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider trading activity. The director is exercising options and selling shares to cover the costs, which is a common practice.
Industry Context
This filing is a routine disclosure of insider transactions and doesn't necessarily indicate a broader trend in the industry.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the exercise of options and sale of shares by a director.
Key Dates
| Date | Description |
|---|---|
| 08/20/2021 | Date exercisable for Sono-Tek Options at $3.7 |
| 08/19/2022 | Date exercisable for Sono-Tek Options at $3.19 |
| 08/18/2023 | Date exercisable for Sono-Tek Options at $5.5 |
| 02/26/2024 | Date of options exercise and share surrender. |
| 02/27/2024 | Date of signature on the Form 4. |
| 08/20/2031 | Expiration date for Sono-Tek Options at $3.7 |
| 08/19/2031 | Expiration date for Sono-Tek Options at $3.19 |
| 08/18/2032 | Expiration date for Sono-Tek Options at $5.5 |
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