SEPN (NASDAQ: SEPN) option exercise sale of 11,798 shares on 05/26/2026

Rhea-AI Filing Summary

SEPN submitted a Form 144 notice for a proposed sale of 11,798 shares tied to an exercise of stock options to be executed on 05/26/2026. The filing also discloses prior 10b5-1 sales by Samira Shaikhly of 70,453 shares on 03/02/2026 for $1,979,835.21.

The sale is reported through Morgan Stanley Smith Barney LLC with cash settlement; the excerpt shows a proceeds figure of $334,591.28 associated with the 11,798-share transaction. Transaction mechanics and timing are stated in the notice.

Insights

Corporate Governance Expert

Form 144 records a planned sale following option exercise and prior 10b5-1 activity.

The filing lists a proposed sale of 11,798 shares via exercise of stock options on 05/26/2026, executed through Morgan Stanley Smith Barney LLC. The notice also records earlier Rule 10b5-1 sales by Samira Shaikhly totaling 70,453 shares on 03/02/2026.

Cash settlement is indicated and a proceeds amount of $334,591.28 is shown for the 11,798-share item; subsequent disclosures or confirmations will show whether the sale completed as proposed.

Key Figures

Proposed shares to sell: 11,798 shares Proceeds shown (11,798): $334,591.28 Prior 10b5-1 shares sold: 70,453 shares +2 more

5 metrics

Proposed shares to sell 11,798 shares planned sale via exercise of stock options on 05/26/2026

Proceeds shown (11,798) $334,591.28 associated with the 11,798-share transaction

Prior 10b5-1 shares sold 70,453 shares 10b5-1 sales by Samira Shaikhly on 03/02/2026

Proceeds from prior 10b5-1 sales $1,979,835.21 amount reported for the 70,453-share 10b5-1 sale on 03/02/2026

Broker Morgan Stanley Smith Barney LLC broker/dealer listed for the proposed sale

Key Terms

Form 144, 10b5-1, exercise of stock options

3 terms

Form 144 regulatory

"Filer Information | 144: Filer Information"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

10b5-1 regulatory

"10b5-1 Sales for SAMIRA SHAIKHLY 250 East Grand Avenue"

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 | Exercise of Stock Options"

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	11798	334591.28	45075533	05/26/2026	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	05/26/2026	Exercise of Stock Options	Issuer			11798	05/26/2026	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 SAMIRA SHAIKHLY 250 East Grand Avenue South San Francisco CA 94080	Common	03/02/2026	70453	1979835.21

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 SEPN's Form 144 report say about the planned sale?

The Form 144 reports a proposed sale of 11,798 shares tied to an exercise of stock options, scheduled on 05/26/2026. It lists Morgan Stanley Smith Barney LLC as the broker and shows a related proceeds figure of $334,591.28.

Who previously sold shares under a 10b5-1 plan for SEPN?

Samira Shaikhly conducted 10b5-1 sales of 70,453 shares on 03/02/2026, generating $1,979,835.21 in proceeds according to the filing. The entry is recorded separately from the proposed 05/26/2026 sale.

Are the 11,798 shares being sold by the issuer or a holder?

The proposed 11,798-share sale is reported in connection with an exercise of stock options and listed as an issuer-related transaction executed for cash through Morgan Stanley Smith Barney LLC on 05/26/2026.

Does the filing confirm the sale completed?

The filing is a notice of proposed sale; it specifies the planned execution date of 05/26/2026 and settlement method as cash. The excerpt does not confirm completion or settlement status after that date.