Why did Covista (CVSA) say the CEO’s share sales occurred?

Footnotes explain the shares sold represent a portion of Stephen W. Beard’s holdings that exceeded Covista’s Stock Ownership and Holding Requirements. The sales were executed in pre-scheduled increments under his Rule 10b5-1 trading plan, consistent with company policy.

Pre-planned Covista (CVSA) CEO stock sales total 5,291 shares

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Covista Inc. Chairman & CEO Stephen W. Beard reported open-market sales of 5,291 shares of common stock in mid-June. He sold 2,762 shares at a weighted average price of $130.1388 per share on June 10 and 2,529 shares at $130.7847 on June 11.

The transactions were carried out under a pre-established Rule 10b5-1 trading plan adopted on December 10, 2025, in line with Covista’s insider trading policies. Footnotes state the sales reflect only the portion of his holdings above Covista’s stock ownership and holding requirements, and that discretionary trades are not permitted outside such plans. After these sales, Beard directly holds 424,033 shares of Covista common stock.

Insider Trade Summary 10b5-1

Net Seller: 5,291 shares ($690,198)

Net Sell 2 txns

Insider Beard, Stephen W.

Role Chairman & CEO

Sold 5,291 shs ($690K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,529	$130.7847	$331K
Sale	Common Stock	2,762	$130.1388	$359K

Holdings After Transaction: Common Stock — 424,033 shares (Direct, null)

Footnotes (1)

This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 10, 2025 in accordance with Covista's Insider Sales and Ownership Policy Addendum. Shares sold represent a portion of holdings in excess of Covista's Stock Ownership and Holding Requirements and were executed in pre-scheduled increments under the trading plan. No discretionary trades by the reporting person are permitted under Covista policy; all sales must occur pursuant to a pre-established Rule 10b5-1 trading plan absent a hardship exception. This transaction was executed in multiple trades at prices ranging from $130.02 to $130.39. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades at prices ranging from $130.26 to $131.465. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Key Figures

Shares sold June 10, 2026: 2,762 shares Shares sold June 11, 2026: 2,529 shares Total shares sold: 5,291 shares +2 more

5 metrics

Shares sold June 10, 2026 2,762 shares Open-market sale at $130.1388 weighted average price

Shares sold June 11, 2026 2,529 shares Open-market sale at $130.7847 weighted average price

Total shares sold 5,291 shares Net-sell across two open-market transactions

Post-transaction holdings 424,033 shares Common stock directly held after reported sales

Trading plan adoption date December 10, 2025 Date CEO adopted Rule 10b5-1 trading plan

Key Terms

Rule 10b5-1 trading plan, weighted average sales price, Stock Ownership and Holding Requirements, hardship exception

4 terms

Rule 10b5-1 trading plan regulatory

"This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average sales price financial

"The price reported above reflects the weighted average sales price."

Stock Ownership and Holding Requirements financial

"holdings in excess of Covista's Stock Ownership and Holding Requirements"

hardship exception regulatory

"all sales must occur pursuant to a pre-established Rule 10b5-1 trading plan absent a hardship exception."

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Form 4 Insider Transactions: What Each Field Means →

06/12/2026 - 08:01 PM

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^*

Beard, Stephen W.

(Last)

(First)

(Middle)

233 S. WACKER DRIVE

SUITE 800

(Street)

CHICAGO

ILLINOIS

60606

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Covista Inc. [ CVSA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽¹⁾	06/10/2026		S		2,762⁽²⁾⁽³⁾	D	$130.1388⁽⁴⁾	426,562	D
Common Stock⁽¹⁾	06/11/2026		S		2,529⁽²⁾⁽³⁾	D	$130.7847⁽⁵⁾	424,033	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 10, 2025 in accordance with Covista's Insider Sales and Ownership Policy Addendum.

2. Shares sold represent a portion of holdings in excess of Covista's Stock Ownership and Holding Requirements and were executed in pre-scheduled increments under the trading plan.

3. No discretionary trades by the reporting person are permitted under Covista policy; all sales must occur pursuant to a pre-established Rule 10b5-1 trading plan absent a hardship exception.

4. This transaction was executed in multiple trades at prices ranging from $130.02 to $130.39. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

5. This transaction was executed in multiple trades at prices ranging from $130.26 to $131.465. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

	/s/ Lawrence C. Bachman, attorney-in-fact for Mr. Beard	06/12/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Covista (CVSA) report for Stephen Beard?

Covista reported that Chairman & CEO Stephen W. Beard sold 5,291 shares of common stock in open-market transactions. The sales occurred over two days in June 2026 at weighted average prices slightly above $130 per share.

On what dates did the Covista (CVSA) CEO sell shares and at what prices?

Stephen W. Beard sold Covista shares on June 10 and June 11, 2026. He sold 2,762 shares at a weighted average of $130.1388 and 2,529 shares at a weighted average of $130.7847 per share in open-market transactions.

How many Covista (CVSA) shares does the CEO hold after these sales?

After the reported transactions, Chairman & CEO Stephen W. Beard directly holds 424,033 shares of Covista common stock. This post-transaction figure provides context for the scale of the 5,291 shares sold under the disclosed trading plan.

Were the Covista (CVSA) CEO stock sales under a Rule 10b5-1 plan?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 10, 2025. Covista policy requires sales to occur under such pre-established plans, absent a hardship exception, rather than discretionary trading.

How were the Covista (CVSA) CEO trade prices reported in the Form 4?

The Form 4 notes each transaction was executed in multiple trades within stated price ranges. The prices disclosed, $130.1388 and $130.7847 per share, are weighted average sales prices. Detailed trade counts and exact prices are available upon request to stakeholders.