[144] TransMedics Group, Inc. SEC Filing

Rhea-AI Filing Summary

Insider Sale: Executive Vice President & Head of Institutional Bank John Leto filed a Form 4 for The Bancorp Inc. (TBBK).

• Transaction date: 08/01/2025
• Securities: 50,000 common shares sold (Code “S”)
• Average price: $60.3482 (price range $60.00-$61.56)
• Post-sale holdings: 114,111 shares held directly; 3,540 shares held indirectly via 401(k)

No derivative trades were reported, and the filing was made by a single reporting person. Based on the stated amounts, the executive disposed of roughly 30% of his prior direct position (50,000 of ~164,111 shares), reducing—yet still leaving—a sizeable equity stake.

The absence of earnings or corporate event disclosures means this filing is purely a record of insider activity; investors often view sizable insider sales as a potential negative sentiment signal, though motives can vary (liquidity, diversification, preset plans).

Positive

• Executive retains 114,111 direct shares, sustaining a meaningful equity alignment with shareholders.

Negative

• Sale of 50,000 shares (~30% of prior direct holdings) by EVP may be interpreted as a bearish sentiment signal.

Insights

Senior Equity Analyst

TL;DR: EVP sells 50k shares (~30% stake); modestly bearish insider signal, no related corporate news.

Materiality: While Form 4s don’t directly affect fundamentals, size and rank matter. Leto’s sale (~$3 m) is significant relative to his ownership, signalling some near-term profit-taking at 52-week highs. No 10b5-1 box is marked, suggesting it may not be a pre-scheduled trade. He still controls 117k shares, so alignment remains, but directionally this tilts negative for sentiment-driven investors. Fundamentals unchanged; impact rated negative but not transformational.

Corporate Governance Specialist

TL;DR: Large discretionary sale by key officer; governance impact limited, watch for pattern.

From a governance lens, isolated insider sales are common. The form indicates proper, timely reporting with remaining meaningful ownership, mitigating concerns of total exit. However, a 30% trim outside a disclosed 10b5-1 plan warrants monitoring for recurring sales that could erode perceived alignment. Overall influence on governance risk profile is neutral today, but trends matter.

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	4143	519987.93	34090356	08/04/2025	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	08/04/2025	Stock Option Exercise	ISSUER			4143	08/04/2025	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
EDWARD BASILE 200 Minuteman Road Andover MA 01810	Common	05/27/2025	5000	632250.00
EDWARD BASILE 200 Minuteman Road Andover MA 01810	Common	05/09/2025	6000	693780.00

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

How many TBBK shares did EVP John Leto sell?

He disposed of 50,000 common shares on 08/01/2025.

At what price were the TBBK shares sold?

The weighted-average sale price was $60.3482, within a $60.00–$61.56 range.

What is John Leto's remaining stake in The Bancorp Inc.?

After the transaction he holds 114,111 shares directly and 3,540 shares indirectly through a 401(k).

Were any derivative securities involved in this Form 4?

No, no derivative transactions were reported in Table II.

Was the sale under a Rule 10b5-1 trading plan?

The filing does not indicate that the transaction was executed under a 10b5-1 plan.