[Form 4] Comtech Telecommunications Insider Trading Activity

Rhea-AI Filing Summary

Comtech Telecommunications Corp. (CMTL) – Form 4 insider activity

Chief Financial Officer Michael Bondi reported that on 04-Aug-2025 1,810 restricted stock units vested, automatically converting into the same number of common shares (Transaction Code M). To cover federal and state payroll taxes, 925 shares were withheld/sold at $2.05 (Code F). Net of the tax sale, Bondi’s direct holdings increased by 885 shares to 125,807 shares. He also retains 81,141 unvested RSUs that may convert into common stock in future periods.

The transactions stem from a 04-Aug-2020 equity grant and appear routine compensation-related rather than discretionary trading. While the net ownership gain marginally strengthens management–shareholder alignment, the activity provides limited insight into management’s valuation view or near-term fundamentals.

Positive

• CFO’s direct shareholding increased by 885 shares, marginally enhancing alignment with shareholders.
• 81,141 RSUs remain outstanding, indicating continued service and potential future ownership growth.

Negative

• Tax-related sale of 925 shares at a low $2.05 price marginally increased float but offers limited market signal.

Insights

Financial Analyst

TL;DR: Routine RSU vesting; CFO nets 885 new shares, conveying minimal directional signal.

The Form 4 shows standard equity compensation mechanics: RSU conversion (Code M) and tax-withholding sale (Code F). The net addition raises Bondi’s direct stake by roughly 0.7%, an immaterial change relative to CMTL’s 27 M basic shares outstanding. No open-market buying or sizable selling occurred, so the filing is impact-neutral for valuation. Investors should view this as neither bullish nor bearish but as confirmation that the 2020 grant is vesting on schedule.

Corporate Governance Expert

TL;DR: Standard Rule 10b5-1 compliant vesting; no governance concerns detected.

The insider followed prescribed procedures, including automated tax withholding and power-of-attorney signature. No red flags such as back-dating or opportunistic market sales appear. Continued ownership plus 81 k RSUs aligns incentives, supporting board-approved pay design. Overall impact on governance outlook is neutral.

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^*

Gizinski Daniel

(Last) (First) (Middle)

305 N 54TH STREET

(Street)

CHANDLER AZ 85226

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COMTECH TELECOMMUNICATIONS CORP /DE/ [ CMTL ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, S&S Comm. Segment

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

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

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

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

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 Par Value $0.10 Per Share	08/04/2025		M		349	A	(1)	23,320	D
Common Stock Par Value $0.10 Per Share	08/04/2025		F(2)		158	D	$2.05	23,162	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
Restricted Stock Units	(1)	08/04/2025		M			349	(3)	(3)	Common Stock Par Value $0.10 Per Share	349	$0	39,719	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. The 158 reflected on this table represents the shares withheld to pay the Reporting Person's federal, state, and Federal Insurance Contributions Act ("FICA") tax.

3. This transaction represents the vesting of 349 of the 1,745 restricted stock units issued to the Reporting Person on August 4, 2020.

Remarks:

	/s/ Michael C. Shay, Attorney-in-Fact for Daniel Gizinski	08/05/2025
	** 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.

FAQ

What insider activity did CMTL disclose in this Form 4?

CFO Michael Bondi reported the vesting of 1,810 RSUs and the sale/withholding of 925 shares for taxes on 04-Aug-2025.

How many CMTL shares does the CFO now own?

After the transactions Bondi holds 125,807 common shares directly and 81,141 unvested RSUs.

Was the share sale discretionary?

No. The 925-share sale was automatically executed to cover federal and state payroll taxes (Code F).

Does this filing indicate bullish or bearish sentiment from management?

Because the activity is routine RSU vesting, it is considered neutral and offers limited directional insight.

What is the transaction code meaning in this Form 4?

Code M denotes conversion of derivatives (RSUs) into shares; Code F denotes shares sold to pay withholding taxes.