[Form 4] Foot Locker, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Codexis, Inc. (CDXS) received a Form 4 filing from Opaleye Management Inc., a 10% beneficial owner, detailing an open-market purchase completed on 27 June 2025.

• Transaction: 100,000 shares of Codexis common stock were purchased (Code P) at an average price of $2.39 per share.
• Post-transaction holdings: Opaleye now reports 12,350,000 shares held indirectly through Opaleye, L.P. and an additional 250,000 shares in a separately managed account, bringing total reported beneficial ownership to 12.6 million shares.
• Ownership form: All shares are reported as indirect (Form I); the investment manager disclaims beneficial ownership beyond its pecuniary interest.
• Reporting party status: Opaleye is classified as a 10% owner; no board or executive role is indicated.

The filing signals incremental insider accumulation by a large shareholder. While the 100 k-share purchase is modest relative to the 12.35 million-share position, fresh buying can be interpreted by investors as a vote of confidence in Codexis at current price levels. No derivative transactions, sales or options were disclosed in this filing.

Positive

• 10% owner purchased 100,000 shares at $2.39, signalling confidence and raising total indirect stake to 12.35 million shares.

Negative

• None.

Insights

Securities Analyst

TL;DR 10% owner Opaleye adds 100 k shares, lifting indirect stake to 12.35 m; modest but positive insider-buy signal.

Analysis: The $2.39 purchase price sits near recent lows, implying the investor views shares as undervalued. Although the incremental buy represents less than 1% of Opaleye’s existing position, continued accumulation by a fund already above the 10% threshold can bolster market sentiment. No sales or hedges were reported, reducing concerns of near-term distribution. Absent earnings data, the purchase is a standalone bullish indicator rather than confirmation of fundamental improvement.

Corporate Governance Expert

TL;DR Additional indirect insider purchase strengthens alignment but retains disclaimer of true beneficial ownership.

The filing underscores sustained economic exposure by Opaleye without altering governance dynamics—no board seat, no direct control. Indirect holding structure limits transparency, yet repeated open-market buying typically aligns interests with minority shareholders. The absence of derivative grants or preferential terms suggests market-rate acquisition, lowering agency-risk concerns. Overall governance impact: mildly positive.

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

X

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^*

Vesa Equity Investment S.a r.l.

(Last) (First) (Middle)

2 PLACE DE PARIS

(Street)

LUXEMBOURG N4 L-2314

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FOOT LOCKER, INC. [ FL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

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

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

	Form filed by One Reporting Person
X	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	06/27/2025		S		1,631,478	D	$24.6736(1)	8,424,336	D(2)

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

1. Name and Address of Reporting Person^*

Vesa Equity Investment S.a r.l.

(Last) (First) (Middle)

2 PLACE DE PARIS

(Street)

LUXEMBOURG N4 L-2314

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

EP Equity Investment S.a r.l

(Last) (First) (Middle)

2 PLACE DE PARIS

(Street)

LUXEMBOURG N4 L-2314

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

EP Investment S.a r.l.

(Last) (First) (Middle)

2 PLACE DE PARIS

(Street)

LUXEMBOURG N4 L-2314

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Kretinsky Daniel

(Last) (First) (Middle)

PARIZSKA 26

(Street)

PRAGUE 2N 110 00

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.50 to $24.99, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

2. Vesa Equity Investment S.a r.l ("Vesa Equity") is the record holder of the shares reported herein. The sole shareholder of Vesa Equity is EP Equity Investment S.a r.l. ("EP Equity Investment") and its principal shareholder is EP Investment S.a.r.l. ("EP Investment"), the ultimate beneficial owner of which is Daniel Kretinsky. Each of EP Equity Investment, EP Investment and Mr. Kretinsky disclaims beneficial ownership of these shares except to the extent of its or his respective pecuniary interest therein.

	/s/ Jan Bilek, as attorney in fact for Vesa Equity Investment S.a r.l.	07/01/2025
	/s/ Jan Bilek, as attorney in fact for EP Equity Investment S.a r.l.	07/01/2025
	/s/ Jan Bilek, as attorney in fact for EP Investment S.a r.l.	07/01/2025
	/s/ Jan Bilek, as attorney in fact for Daniel Kretinsky	07/01/2025
	** 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.
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FAQ

How many Codexis (CDXS) shares did Opaleye buy on 27 June 2025?

100,000 shares of common stock were purchased.

What was the purchase price for the insider transaction in CDXS?

The shares were acquired at $2.39 per share.

What is Opaleye’s total reported ownership in Codexis after the transaction?

Opaleye reports 12,350,000 shares via Opaleye, L.P. plus 250,000 in a managed account.

Did the Form 4 include any stock sales or derivative transactions?

No. The filing discloses only a purchase of common stock and reports no derivatives or sales.

Why is Opaleye considered a 10% owner of Codexis?

Its aggregated indirect holdings exceed 10% of Codexis’ outstanding common stock, triggering Section 16 reporting.