AWARE (AWRE) director Connolly exercises derivative, lifts stake to 266,955 shares

Rhea-AI Filing Summary

AWARE INC /MA/ director Brian D. Connolly exercised derivative securities to acquire additional common stock. On July 1, 2026, he obtained 22,500 shares of common stock through an option or similar derivative exercise, with no reported sale of shares in this filing.

Following this transaction, Connolly directly holds 266,955 shares of AWARE common stock. This filing reflects a compensation-related derivative exercise and retention of shares rather than an open-market purchase or sale.

Insights

Equity compensation analyst

Director exercised options to add shares, with no sale reported.

Director Brian D. Connolly exercised derivative securities to receive 22,500 shares of AWARE common stock on July 1, 2026. The transaction code M indicates an exercise or conversion of a derivative rather than an open-market trade.

After the exercise, Connolly holds 266,955 shares directly, and the filing shows no same-day sale or tax-withholding disposition. With derivativeSummary empty, this appears to be a full exercise of the reported derivative position, a routine equity-compensation event rather than a directional market bet.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Connolly Brian D

Role null

Type	Security	Shares	Price	Value
Exercise	Common Stock	22,500	$0.00	--

Holdings After Transaction: Common Stock — 266,955 shares (Direct, null)

Footnotes (1)

Key Figures

Shares acquired: 22,500 shares Post-transaction holdings: 266,955 shares Transaction code: M +1 more

4 metrics

Shares acquired 22,500 shares Common Stock from derivative exercise on July 1, 2026

Post-transaction holdings 266,955 shares Common Stock held directly after July 1, 2026 transaction

Transaction code M Exercise or conversion of derivative security

Reported price per share $0.00/share Form 4 transaction_price_per_share field for the exercise

Key Terms

Form 4, derivative security, transaction code M, Common Stock

4 terms

Form 4 regulatory

"The Form 4 shows an option or similar derivative exercise, not an open-market purchase or sale of shares."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

derivative security financial

"Director Brian D. Connolly reported exercising a derivative security to acquire 22,500 shares of AWARE common stock."

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

transaction code M regulatory

"Transaction code M on Form 4 indicates the exercise or conversion of a derivative security, such as a stock option."

Common Stock financial

"He obtained 22,500 shares of common stock through an option or similar derivative exercise, with no reported sale of shares."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:40 PM Accepted by SEC EDGAR 07/02/2026 - 04:39 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Connolly Brian D

(Last) (First) (Middle)

C/O AWARE, INC.

76 BLANCHARD ROAD

(Street)

BURLINGTON MASSACHUSETTS 01803

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
AWARE INC /MA/ [ AWRE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2026		M		22,500	A	$0	266,955	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Brian D. Connolly	07/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did AWARE (AWRE) director Brian D. Connolly report?

Director Brian D. Connolly reported exercising a derivative security to acquire 22,500 shares of AWARE common stock on July 1, 2026. The Form 4 shows an option or similar derivative exercise, not an open-market purchase or sale of shares.

Did Brian D. Connolly sell any AWARE (AWRE) shares in this Form 4 filing?

No sale is reported. The Form 4 shows a code M transaction, meaning an exercise or conversion of a derivative security. Connolly received 22,500 shares of common stock, and there is no S (sale) or F (tax-withholding disposition) transaction listed.

How many AWARE (AWRE) shares does Brian D. Connolly own after this transaction?

After the reported transaction, Brian D. Connolly directly owns 266,955 shares of AWARE common stock. This total reflects his holdings immediately following the July 1, 2026 derivative exercise that added 22,500 shares to his position.

What does transaction code M mean in the AWARE (AWRE) Form 4 for Brian D. Connolly?

Transaction code M on Form 4 indicates the exercise or conversion of a derivative security, such as a stock option. In this case, Connolly exercised a derivative to receive 22,500 AWARE common shares rather than buying or selling shares on the open market.

Was the AWARE (AWRE) insider transaction by Brian D. Connolly an open-market buy?

The transaction was not an open-market buy. The filing classifies it as a derivative exercise/conversion with code M. Connolly acquired 22,500 shares of common stock through exercising a derivative, typically part of equity compensation, rather than purchasing shares on an exchange.