Turning Point Brands (TPB) chair alters $7.0M forward deal, exercises 30K options
Rhea-AI Filing Summary
Turning Point Brands, Inc. insider activity centers on option exercises, share sales, and a revised share-backed financing. Executive Chairman and Director David Glazek exercised 30,000 stock options at $20.71 per share and sold 30,000 shares of common stock at $110.26 per share on 12/19/2025. After these transactions, he beneficially owns 157,083 common shares, including 35,956 restricted stock units and 91,127 shares of common stock. He also holds 54,289 options with a $27.19 exercise price and 47,519 options with a $20.71 exercise price.
The filing also reports a revised financing transaction involving a forward contract on up to 78,000 pledged shares of Turning Point Brands common stock. On December 19, 2025, Glazek replaced a prior contract with a new one that reflects the current stock price and extends its duration, receiving a gross amount of approximately $7.0 million. On the revised maturity date of December 19, 2027, he must either repay the lender in cash or deliver up to 78,000 shares at prices ranging from $105.33 to $126.39 per share, depending on the market price. He retains beneficial ownership of the pledged shares, including dividend and voting rights, and the revised financing was completed at a price of $110.87 per share.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Options | 30,000 | $20.71 | $621K |
| Other | Forward contract | 78,000 | $0.00 | -- |
| Exercise | Common Stock | 30,000 | $20.71 | $621K |
| Sale | Common Stock | 30,000 | $110.26 | $3.31M |
| holding | Options | -- | -- | -- |
Footnotes (1)
- The reported transaction involved the reporting person's exercise of 30,000 options granted under 2021 Equity Incentive Plan. The total reported in Column 5 includes 35,956 restricted stock units and 91,127 shares of common stock. The reported transaction involves the sale of 30,000 shares of common stock received upon exercise of the options described in footnote 1. Options granted under the Turning Point Brands, Inc. 2021 Equity Incentive Plan. On December 19, 2025, the reporting person revised a previously disclosed financing transaction with an unaffiliated dealer dated June 4, 2025 that had the effect of canceling the transaction initially contemplated by the contract and commencing a new transaction to reflect the current stock price and extend the duration of the contract. Under the revised financing the reporting person receives a gross amount of approximately $7.0 million and continues to pledge up to 78,000 shares of the issuer's common stock (the "Pledged Shares"). On the revised maturity date of December 19, 2027 the reporting person is obligated to repay the lender in cash or at the reporting person's election to deliver up to 78,000 shares of the Issuer's common stock at a price per share ranging from $105.33 to $126.39 based on the then prevailing market price. The reporting person retains beneficial ownership of the Pledged Shares, including dividend and voting rights. The revised financing transaction was completed at a price per share of $110.87.
FAQ
What insider transactions did Turning Point Brands (TPB) report in this Form 4?
The report shows that Executive Chairman and Director David Glazek exercised 30,000 stock options at $20.71 per share and sold 30,000 common shares at $110.26 per share on December 19, 2025. These actions are typical Form 4 transactions, reflecting both option exercise and subsequent share sale.
What options and derivative positions does the Turning Point Brands (TPB) insider hold after the Form 4 transactions?
After the transactions, David Glazek holds 54,289 stock options with a $27.19 exercise price that become exercisable on 03/11/2034, and 47,519 stock options with a $20.71 exercise price that expire on 05/12/2033. He is also party to a forward contract involving up to 78,000 shares of Turning Point Brands common stock.