PSNL (NASDAQ: PSNL) files Rule 144 to sell 4,982 shares via option exercise

Rhea-AI Filing Summary

PSNL filed a Rule 144 notice reporting the proposed sale of 4,982 shares of Common Stock via exercise of stock options, scheduled 06/29/2026. The filing also lists recent 10b5-1 sales by Aaron Tachibana totaling 129,050 shares across three trades in May–June 2026 with aggregate proceeds shown as $1,605,140.20.

Insights

Securities Compliance Counsel

Rule 144 notice for a controlled sale via option exercise and prior 10b5-1 dispositions.

The filing documents a proposed sale of 4,982 shares by exercise of stock options on 06/29/2026, reported on a Rule 144 form. It separately lists three 10b5-1 dispositions by Aaron Tachibana (51,251; 40,000; 38,799 shares) with per-trade cash amounts.

Timing, plan status, and cash-flow treatment for the proposed sale follow the form's standard disclosure; subsequent public filings or transactions will show completion and any change in holdings.

Key Figures

Shares proposed for sale: 4,982 shares 10b5-1 sale - 06/26/2026: 51,251 shares 10b5-1 sale - 06/04/2026: 40,000 shares +3 more

6 metrics

Shares proposed for sale 4,982 shares scheduled <date>06/29/2026</date> via exercise of stock options

10b5-1 sale - 06/26/2026 51,251 shares Aaron Tachibana trade on <date>06/26/2026</date>

10b5-1 sale - 06/04/2026 40,000 shares Aaron Tachibana trade on <date>06/04/2026</date>

10b5-1 sale - 05/29/2026 38,799 shares Aaron Tachibana trade on <date>05/29/2026</date>

Proceeds shown (three trades) $1,605,140.20 aggregate of listed cash amounts for the three 10b5-1 sales

Reporting broker Morgan Stanley Smith Barney LLC listed broker on the Form 144 cover data

Key Terms

Rule 144, 10b5-1, exercise of stock options, Rule 144 notice

4 terms

Rule 144 regulatory

"144: Filer Information 144: Issuer Information 144: Securities Information"

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.

10b5-1 regulatory

"10b5-1 Sales for AARON TACHIBANA 6600 Dumbarton Circle"

A 10b5-1 plan is a pre-set schedule that lets company insiders buy or sell shares according to written instructions made when they do not possess material, nonpublic information. Think of it as a timed automatic payment for stock trades: it helps insiders avoid accusations of trading on secret information and gives outside investors a clearer signal about whether sales are routine or potentially informative about the company’s prospects.

exercise of stock options financial

"Securities To Be Sold Common 06/29/2026 Exercise of Stock Options"

Rule 144 notice regulatory

"144: Securities To Be Sold Common 06/29/2026 Exercise of Stock Options"

A Rule 144 notice is a public filing that an insider or holder of restricted stock submits when they plan to sell shares that aren’t freely tradable yet; it lists how many shares they intend to sell and under what conditions. For investors, it matters because it signals potential insider selling and an upcoming increase in shares available to the market—similar to someone announcing a big garage sale, which can affect supply and price expectations.

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Available on EDGAR 06/29/2026 - 04:45 PM Accepted by SEC EDGAR 06/29/2026 - 04:44 PM Learn about SEC filing dates

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	4982	64865.64	104721098	06/29/2026	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	06/29/2026	Exercise of Stock Options	Issuer			4982	06/29/2026	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
10b5-1 Sales for AARON TACHIBANA 6600 Dumbarton Circle Fremont CA 94555	Common	06/26/2026	51251	675283.18
10b5-1 Sales for AARON TACHIBANA 6600 Dumbarton Circle Fremont CA 94555	Common	06/04/2026	40000	480584.00
10b5-1 Sales for AARON TACHIBANA 6600 Dumbarton Circle Fremont CA 94555	Common	05/29/2026	38799	449273.02

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 PSNL's Form 144 report about the 06/29/2026 transaction?

It reports a proposed sale of 4,982 shares of Common Stock by exercise of stock options on 06/29/2026. The form lists the method as an option exercise with proceeds in cash.

Who conducted recent 10b5-1 sales disclosed in the filing for PSNL?

The filing shows three 10b5-1 sales by Aaron Tachibana: 51,251, 40,000, and 38,799 shares on 06/26/2026, 06/04/2026, and 05/29/2026, respectively.

How much cash is shown for the recent 10b5-1 sales in the filing?

The three trades list cash amounts of $675,283.18, $480,584.00, and $449,273.02, respectively, summing to $1,605,140.20 across those dispositions.

Does the Form 144 state who will receive the proceeds from the 4,982-share sale?

The filing describes the sale method as an exercise of stock options with payment in cash. The form does not attach further allocation or use-of-proceeds details.

Is the 4,982-share item an actual sale or a proposed sale under Rule 144?

It is reported on a Rule 144 notice as a proposed sale tied to an option exercise scheduled on 06/29/2026. Completion and settlement would be shown in subsequent transaction reports.