Innodata (INOD) director sells 20,000 shares after exercising low-priced options

Q: How many Innodata (INOD) shares did director Louise C. Forlenza sell?

Louise C. Forlenza sold 20,000 shares of Innodata common stock across open-market transactions on May 19 and 20, 2026 . These trades were reported with sale prices generally ranging from the mid- $80s to the mid- $90s per share.

Q: What stock options did Louise C. Forlenza exercise in this Innodata (INOD) Form 4?

She exercised options covering 20,000 shares of Innodata common stock at a $1.24 exercise price per share. These options, identified as “Stock Option (Right to Buy),” were fully vested and became exercisable on August 1, 2019 , with an expiration date of July 31, 2029 .

Q: At what prices were the Innodata (INOD) shares sold by Louise C. Forlenza?

Reported sale prices include $86.10 , and weighted-average prices around $90.07 , $93.02 , $93.89 , and $94.76 per share. Several transactions were executed in multiple trades within narrow price ranges, with weighted averages disclosed in the Form 4 footnotes.

Q: What Innodata (INOD) equity does Louise C. Forlenza still hold after these transactions?

Following the reported transactions, Forlenza holds 3,943 restricted stock units (RSUs) . These RSUs will vest 100% on the earlier of June 5, 2026 or Innodata’s 2026 annual stockholders’ meeting and will be settled into shares of Innodata common stock upon vesting.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

INNODATA INC director Louise C. Forlenza reported a mix of option exercises and share sales. She exercised stock options for 20,000 shares of common stock at a $1.24 exercise price on May 19 and 20, 2026, then sold 20,000 shares in open-market transactions at prices generally in the $86–$95 range. After these trades, she continues to hold 3,943 restricted stock units, which will vest in full on the earlier of June 5, 2026 or Innodata’s 2026 annual meeting, and will then be settled in common shares. A footnote states the sales were made for personal investment, retirement planning, and portfolio diversification purposes.

Insider Trade Summary

Net Seller: 20,000 shares ($1,815,402)

Net Sell 9 txns

Insider FORLENZA LOUISE C

Role null

Sold 20,000 shs ($1.82M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	15,000	$0.00	--
Exercise	Common Stock	15,000	$1.24	$19K
Sale	Common Stock	5,000	$93.02	$465K
Sale	Common Stock	5,000	$90.07	$450K
Sale	Common Stock	4,998	$93.89	$469K
Sale	Common Stock	2	$94.76	$189.52
Exercise	Stock Option (Right to Buy)	5,000	$0.00	--
Exercise	Common Stock	5,000	$1.24	$6K
Sale	Common Stock	5,000	$86.10	$431K

Holdings After Transaction: Stock Option (Right to Buy) — 20,000 shares (Direct, null); Common Stock — 18,943 shares (Direct, null)

Footnotes (1)

Includes 3,943 restricted stock units ("RSUs") that will vest 100% on the earlier to occur of (i) June 5, 2026; and (ii) the date of Innodata Inc.'s 2026 annual meeting of stockholders and will be settled into shares of Innodata's common stock upon vesting. The sale of the shares reported in Column 4 was made as part of the reporting person's personal investment and financial planning needs, including for individual retirement planning and portfolio diversification purposes. This transaction was executed in multiple trades at prices ranging from $86 to $86.46. The price reported above reflects the weighted average sale 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 $92.9 to $93.19. The price reported above reflects the weighted average sale 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 $90 to $90.24. The price reported above reflects the weighted average sale 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 $93.54 to $94.44. The price reported above reflects the weighted average sale 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 stock option became fully vested and exercisable on August 1, 2019.

Key Figures

Shares sold: 20,000 shares Options exercised: 20,000 shares Option exercise price: $1.24 per share +4 more

7 metrics

Shares sold 20,000 shares Total Innodata common shares sold in open-market transactions on May 19–20, 2026

Options exercised 20,000 shares Shares acquired by exercising stock options on May 19–20, 2026

Option exercise price $1.24 per share Exercise price for stock options converted into Innodata common stock

Example sale price $86.10 per share Open-market sale price for 5,000 shares on May 19, 2026

Highest reported sale price $94.76 per share Open-market sale price for 2 shares on May 20, 2026

Remaining RSUs 3,943 units Restricted stock units vesting on June 5, 2026 or 2026 annual meeting

Option expiration July 31, 2029 Expiration date for the reported stock options (Right to Buy)

Key Terms

restricted stock units ("RSUs"), open-market sale, weighted average sale price, Stock Option (Right to Buy), +1 more

5 terms

restricted stock units ("RSUs") financial

"Includes 3,943 restricted stock units ("RSUs") that will vest 100% on the earlier to occur of"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

open-market sale financial

"transaction_action": "open-market sale", "transaction_code_description": "Sale in open market or private transaction""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average sale price financial

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

Stock Option (Right to Buy) financial

""security_title": "Stock Option (Right to Buy)""

derivative exercise/conversion financial

""transaction_action": "derivative exercise/conversion", "transaction_code_description": "Exercise or conversion of derivative security""

Form 4 Insider Transactions: What Each Field Means →

05/20/2026 - 07:35 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^*

FORLENZA LOUISE C

(Last)

(First)

(Middle)

C/O INNODATA INC.

55 CHALLENGER ROAD

(Street)

RIDGEFIELD PARK

NEW JERSEY

07660

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
INNODATA INC [ INOD ]

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)
05/19/2026

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	05/19/2026		M		5,000	A	$1.24	8,943⁽¹⁾	D
Common Stock	05/19/2026		S		5,000⁽²⁾	D	$86.1⁽³⁾	3,943⁽¹⁾	D
Common Stock	05/20/2026		M		15,000	A	$1.24	18,943⁽¹⁾	D
Common Stock	05/20/2026		S		5,000⁽²⁾	D	$93.02⁽⁴⁾	13,943⁽¹⁾	D
Common Stock	05/20/2026		S		5,000⁽²⁾	D	$90.07⁽⁵⁾	8,943⁽¹⁾	D
Common Stock	05/20/2026		S		4,998⁽²⁾	D	$93.89⁽⁶⁾	3,945⁽¹⁾	D
Common Stock	05/20/2026		S		2⁽²⁾	D	$94.76	3,943⁽¹⁾	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)
Stock Option (Right to Buy)	$1.24	05/19/2026		M			5,000	⁽⁷⁾	07/31/2029	Common Stock	5,000	$0	35,000	D
Stock Option (Right to Buy)	$1.24	05/20/2026		M			15,000	⁽⁷⁾	07/31/2029	Common Stock	15,000	$0	20,000	D

Explanation of Responses:

1. Includes 3,943 restricted stock units ("RSUs") that will vest 100% on the earlier to occur of (i) June 5, 2026; and (ii) the date of Innodata Inc.'s 2026 annual meeting of stockholders and will be settled into shares of Innodata's common stock upon vesting.

2. The sale of the shares reported in Column 4 was made as part of the reporting person's personal investment and financial planning needs, including for individual retirement planning and portfolio diversification purposes.

3. This transaction was executed in multiple trades at prices ranging from $86 to $86.46. The price reported above reflects the weighted average sale 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.

4. This transaction was executed in multiple trades at prices ranging from $92.9 to $93.19. The price reported above reflects the weighted average sale 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 $90 to $90.24. The price reported above reflects the weighted average sale 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.

6. This transaction was executed in multiple trades at prices ranging from $93.54 to $94.44. The price reported above reflects the weighted average sale 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.

7. This stock option became fully vested and exercisable on August 1, 2019.

	/s/ Amy Agress Attorney-in fact for Louise C. Forlenza	05/20/2026
	** 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

How many Innodata (INOD) shares did director Louise C. Forlenza sell?

Louise C. Forlenza sold 20,000 shares of Innodata common stock across open-market transactions on May 19 and 20, 2026. These trades were reported with sale prices generally ranging from the mid-$80s to the mid-$90s per share.

What stock options did Louise C. Forlenza exercise in this Innodata (INOD) Form 4?

She exercised options covering 20,000 shares of Innodata common stock at a $1.24 exercise price per share. These options, identified as “Stock Option (Right to Buy),” were fully vested and became exercisable on August 1, 2019, with an expiration date of July 31, 2029.

At what prices were the Innodata (INOD) shares sold by Louise C. Forlenza?

Reported sale prices include $86.10, and weighted-average prices around $90.07, $93.02, $93.89, and $94.76 per share. Several transactions were executed in multiple trades within narrow price ranges, with weighted averages disclosed in the Form 4 footnotes.

What Innodata (INOD) equity does Louise C. Forlenza still hold after these transactions?

Following the reported transactions, Forlenza holds 3,943 restricted stock units (RSUs). These RSUs will vest 100% on the earlier of June 5, 2026 or Innodata’s 2026 annual stockholders’ meeting and will be settled into shares of Innodata common stock upon vesting.

Why does the Innodata (INOD) Form 4 say the sales were made by Louise C. Forlenza?

A footnote explains the shares were sold as part of Forlenza’s personal investment and financial planning. It specifically cites individual retirement planning and portfolio diversification purposes, indicating the transactions were tied to her broader personal financial management decisions.

How are weighted-average prices described in this Innodata (INOD) Form 4 filing?

Certain transactions were executed in multiple trades within specified price ranges, such as $86–$86.46 and $92.9–$93.19. The Form 4 reports a weighted average sale price for each, with an undertaking to provide full trade details upon request to interested parties.