Willdan (WLDN) Director Exercises Options at $16.27, Sells at $118.15
Rhea-AI Filing Summary
Thomas D. Brisbin, a director of Willdan Group, Inc. (WLDN), reported option exercise and offsetting open-market sales on 08/25/2025. He exercised 5,182 stock options at an exercise price of $16.27 per share, and sold 5,182 common shares at a weighted average price of $118.15 per share. After the transactions the Form 4 shows Mr. Brisbin beneficially owning 70,696 shares of common stock. The filing also discloses outstanding restricted stock totaling 8,739 shares that vest on specified dates in 2026, and that the exercised options are exercisable until 11/03/2026.
Positive
- Exercise of vested options at $16.27 demonstrates realization of in-the-money option value
- Sale at weighted average $118.15 locked in substantial proceeds versus exercise cost
- Vesting schedule disclosed for restricted shares (1,781; 1,124; 5,834) provides transparency on future potential dilution
Negative
- Reported sale reduced direct beneficial ownership from 75,878 to 70,696 shares following the transactions
- Large share sale (5,182 shares) could be viewed as a near-term reduction in insider holdings
Insights
TL;DR: Director exercised in-the-money options at $16.27 and immediately monetized the same number of shares at a ~$118 weighted average.
The filing documents a routine option exercise paired with open-market sales that realize a substantial spread between the $16.27 exercise price and the ~$118.15 sale price. The transaction reduced reported beneficial ownership from 75,878 to 70,696 shares per the Form 4, while leaving 5,182 options (or underlying shares) recorded in Table II with an expiration of 11/03/2026. These actions are consistent with a liquidity event for the reporting person rather than a company capital action; the filing supplies clear transaction pricing and vesting schedules for restricted shares.
TL;DR: Insider reported exercise and sale consistent with standard Section 16 disclosure; vesting schedules for restricted shares are explicitly disclosed.
The Form 4 is complete in noting the relationship (director), transaction codes, prices, and the vesting schedule for restricted stock (1,781; 1,124; 5,834 shares on specified 2026 dates). The reporting attorney signature and date are present, and the weighted-average sale price range is disclosed with an offer to provide per-trade details on request. No amendments or missing items are evident in the filing text provided.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (Right to Buy) | 5,182 | $0.00 | -- |
| Exercise | Common Stock | 5,182 | $16.27 | $84K |
| Sale | Common Stock | 5,182 | $118.15 | $612K |
Footnotes (1)
- Includes (i) 1,781 shares of restricted stock that vest on June 11, 2026, (ii) 1,124 shares of restricted stock that vest on June 12, 2026, and (iii) 5,834 shares of restricted stock that vest on March 7, 2026, subject to the Reporting Person's continued service to the Issuer through the applicable vesting date. The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $118.07 to $118.38, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2). Stock options granted under the Willdan Group, Inc. Amended and Restated 2008 Performance Incentive Plan, which vested in three equal installments on each of November 3, 2017, November 3, 2018 and November 3, 2019.
