Morgan Stanley Smith Barney (PLMR) files Rule 144 to sell 4,937 shares after exercise

Rhea-AI Filing Summary

Morgan Stanley Smith Barney LLC filed a Rule 144 notice listing 4,937 shares of Common Stock to be sold on 04/07/2026 following an exercise of stock options with cash settlement. The filing also records recent sales by Jon Christianson in January–February 2026 totaling several thousand shares and corresponding proceeds.

Insights

Securities Compliance Analyst

Rule 144 notice for an option exercise and recent open-market dispositions.

The filing lists an exercise of stock options converting into 4,937 shares and indicates those shares are to be sold on 04/07/2026 with cash settlement. This is a common procedural notice under resale rules.

Recent dispositions by Jon Christianson show multiple smaller sales in 01/2026–02/2026 with per-trade proceeds noted; these items document prior market activity rather than new corporate actions.

Key Figures

Shares offered: 4,937 shares Sale on 01/28/2026: 1,991 shares Sale on 01/29/2026: 1,158 shares +2 more

5 metrics

Shares offered 4,937 shares To be sold following exercise on 04/07/2026

Sale on 01/28/2026 1,991 shares Jon Christianson sale, proceeds <money>$238,681.08</money>

Sale on 01/29/2026 1,158 shares Jon Christianson sale, proceeds <money>$141,325.66</money>

Sale on 02/18/2026 522 shares Jon Christianson sale, proceeds <money>$66,836.88</money>

Sale on 01/31/2026 515 shares Jon Christianson sale, proceeds <money>$62,699.86</money>

Key Terms

Rule 144, Exercise of Stock Options, Cash settlement

3 terms

Rule 144 regulatory

"filed a Rule 144 notice listing 4,937 shares to be sold"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Exercise of Stock Options financial

"Exercise of Stock Options | Issuer | 4,937 | 04/07/2026"

Cash settlement financial

"Exercise of Stock Options ... 4,937 ... Cash"

Cash settlement is a process where, instead of exchanging physical assets like stocks or commodities, the parties involved settle the difference in value with money after a contract ends. For investors, it simplifies transactions by avoiding the need to handle or deliver the actual asset, making it quicker and more convenient to complete trades. This method ensures a straightforward way to settle agreements based on their final value.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	4937	601622.82	26689745	04/07/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	04/07/2026	Exercise of Stock Options	Issuer			4937	04/07/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
JON CHRISTIANSON 7979 Ivanhoe Avenue, Suite 500 La Jolla CA 92037	Common	02/18/2026	522	66836.88
JON CHRISTIANSON 7979 Ivanhoe Avenue, Suite 500 La Jolla CA 92037	Common	01/31/2026	515	62699.86
JON CHRISTIANSON 7979 Ivanhoe Avenue, Suite 500 La Jolla CA 92037	Common	01/29/2026	1158	141325.66
JON CHRISTIANSON 7979 Ivanhoe Avenue, Suite 500 La Jolla CA 92037	Common	01/28/2026	1991	238681.08

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the PLMR Form 144 filing report?

It reports a proposed resale of 4,937 shares after an option exercise on 04/07/2026. The notice documents the conversion via exercise and the intention to sell the resulting shares under Rule 144 resale provisions.

Who is the selling party named in the PLMR Form 144?

The filer is Morgan Stanley Smith Barney LLC acting for an executive financial services account. The notice lists the sale method as an exercise of stock options with cash settlement on 04/07/2026.

What recent sales by insiders are disclosed in this filing for PLMR?

The filing lists several sales by Jon Christianson in 01/2026–02/2026, including trades of 1991, 1158, 522, and 515 shares with respective proceeds recorded for each trade.

Does the PLMR Form 144 indicate how proceeds will be used?

No. The notice states the shares result from an exercise of stock options and the settlement method is cash, but it does not state any use of proceeds or allocation of sale proceeds.