LO FRANCIS

Some of the stock options Francis Lo exercised in the first half of July 2026 were struck as low as $3.99 a share. Others, exercised the same week, were struck as high as $12.14 — a threefold spread in cost basis across five distinct option tranches. All of it was sold within days at essentially the same price: $22.18 to $22.59. Across three trading sessions — July 1, July 2 and July 15 — Lo exercised roughly 181,000 shares' worth of options across those five strike prices and sold roughly 201,600 shares on the open market, worth a combined $4.5 million. The largest single day was July 15, when 105,762 shares from three tranches (struck at $7.80, $8.46 and $12.14) were exercised and sold the same day at $22.59. Across all 133 transactions in this record, spanning February 2020 through July 2026, Lo has sold 631,386 shares in total and never bought any — a pattern of systematic option exercise and same-day sale rather than a single discretionary decision.