Mercury Systems director-linked trust sells 9,250 shares

Mercury Systems director Howard L. Lance reported insider share sales and updated holdings.

Rhea-AI Filing Summary

Mercury Systems director Howard L. Lance reported insider share sales and updated holdings. On May 26, 2026, a revocable living trust associated with him completed two open-market sales of Mercury Systems common stock, disposing of 8,000 shares at a weighted average price of $99.9525 per share and a further 1,250 shares at a weighted average price of $98.4992 per share. Both transactions were executed in multiple trades within disclosed price ranges. After these sales, the trust no longer holds shares, while Lance continues to own 27,272 shares directly in his own name.

Insights

Equity market structure analyst

Director-linked trust sells 9,250 MRCY shares; director still holds 27,272 directly.

The filing shows a revocable living trust associated with director Howard L. Lance sold a total of 9,250 Mercury Systems common shares in two open-market transactions on May 26, 2026. The trust’s position in the stock was reduced to zero.

Lance, however, continues to hold 27,272 shares directly, indicating the transactions affected only his indirect ownership. The trades were executed in multiple lots within disclosed price ranges near $100 per share, suggesting orderly selling rather than a single block trade.

There is no indication of option exercises, tax-withholding, or derivative positions in this filing, and no reference to a Rule 10b5-1 trading plan. The overall picture is a routine net sale via an affiliated trust, with a remaining meaningful direct equity stake.

Insider Trade Summary

Net Seller: 9,250 shares

Net Sell 3 txns

Insider LANCE HOWARD L

Role Director

Sold 9,250 shs ($923K)

Type	Security	Shares	Price	Value
Sale	Common Stock	8,000	$99.9525	$800K
Sale	Common Stock	1,250	$98.4992	$123K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 0 shares (Indirect, By The Howard L. Lance Revocable Living Trust Dated 9/1/2006); Common Stock — 27,272 shares (Direct)

Footnotes (2)

1. F1. This transaction was executed in multiple trades at prices ranging from $99.3600 to $100.4501. The price reported above reflects the weighted average purchase 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.
2. F2. This transaction was executed in multiple trades at prices ranging from $98.1000 to $98.9000. The price reported above reflects the weighted average purchase 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 (first transaction): 8,000 shares Price per share (8,000-share sale): $99.9525/share Shares sold (second transaction): 1,250 shares +4 more

7 metrics

Shares sold (first transaction) 8,000 shares Open-market sale on May 26, 2026 via revocable trust

Price per share (8,000-share sale) $99.9525/share Weighted average sale price for multiple trades

Shares sold (second transaction) 1,250 shares Open-market sale on May 26, 2026 via revocable trust

Price per share (1,250-share sale) $98.4992/share Weighted average sale price for multiple trades

Total shares sold 9,250 shares Combined open-market sales by associated trust

Direct holdings after transactions 27,272 shares Common stock directly owned by Howard L. Lance

Indirect holdings after transactions 0 shares Common stock held by revocable living trust

Key Terms

open-market sale, weighted average purchase price, revocable living trust, non-derivative, +1 more

5 terms

open-market sale financial

"transaction_action": "open-market sale""

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 purchase price financial

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

The weighted average purchase price is the average cost per share you paid across multiple buys, calculated so larger purchases count more than smaller ones. Imagine buying apples at different prices: the overall price you effectively paid depends on how many apples you bought at each price. Investors use it to measure true cost basis, calculate gains or losses, decide when to sell, and manage taxes and portfolio performance.

revocable living trust financial

"By The Howard L. Lance Revocable Living Trust Dated 9/1/2006"

non-derivative financial

"transaction_type": "non-derivative""

indirect financial

"ownership_type": "indirect""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Mercury Systems (MRCY) report for Howard L. Lance?

Mercury Systems director Howard L. Lance reported two open-market sales via his revocable living trust. The trust sold 8,000 shares and 1,250 shares of common stock on May 26, 2026, and after these transactions no longer holds Mercury Systems shares.

How many Mercury Systems (MRCY) shares did the Lance trust sell and at what prices?

The trust associated with Howard L. Lance sold a total of 9,250 shares. One transaction covered 8,000 shares at a weighted average price of $99.9525, and another covered 1,250 shares at a weighted average price of $98.4992, both executed in multiple trades.

What are Howard L. Lance’s remaining Mercury Systems (MRCY) shareholdings after the reported sales?

After the reported transactions, Howard L. Lance directly holds 27,272 Mercury Systems shares. The revocable living trust associated with him no longer holds any shares, so his exposure comes from this direct ownership position disclosed in the filing.

Were the Mercury Systems (MRCY) insider sales executed in single trades or multiple trades?

The reported insider sales were executed in multiple trades within specified price ranges. Footnotes state each transaction’s reported price is a weighted average for trades between disclosed low and high prices, with full trade details available upon request to the company, SEC staff, or security holders.

Did the Mercury Systems (MRCY) Form 4 include any option exercises or derivative transactions?

The Form 4 does not report any option exercises or derivative security transactions. All reported activity involves non-derivative common stock, with two open-market sales by a revocable living trust and updated direct share ownership for director Howard L. Lance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/27/2026 - 07:00 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^*

LANCE HOWARD L

(Last) (First) (Middle)

50 MINUTEMAN ROAD

(Street)

ANDOVER MASSACHUSETTS 01810

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MERCURY SYSTEMS INC [ MRCY ]

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)
05/26/2026

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	05/26/2026		S		8,000	D	$99.9525(1)	1,250	I	By The Howard L. Lance Revocable Living Trust Dated 9/1/2006
Common Stock	05/26/2026		S		1,250	D	$98.4992(2)	0	I	By The Howard L. Lance Revocable Living Trust Dated 9/1/2006
Common Stock								27,272	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:

1. This transaction was executed in multiple trades at prices ranging from $99.3600 to $100.4501. The price reported above reflects the weighted average purchase 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.

2. This transaction was executed in multiple trades at prices ranging from $98.1000 to $98.9000. The price reported above reflects the weighted average purchase 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/ Douglas Munro, attorney-in-fact	05/27/2026
	** 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)