06/03/2026 | Press release | Distributed by Public on 06/03/2026 18:59
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock option (right to buy) | $0.56 | 06/01/2026 | M | 42,167 | (7) | 06/19/2026 | Common Stock, $0.0001 par value | 42,167 | $ 0 | 94,775 | D | ||||
| Stock option (right to buy) | $0.56 | 06/02/2026 | M | 84,356 | (7) | 06/19/2026 | Common Stock, $0.0001 par value | 84,356 | $ 0 | 10,419 | D | ||||
| Stock option (right to buy) | $0.56 | 06/03/2026 | M | 10,419 | (7) | 06/19/2026 | Common Stock, $0.0001 par value | 10,419 | $ 0 | 0 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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ALON ZVI 983 UNIVERSITY AVENUE, SUITE B LOS GATOS, CA 95032 |
X | X | CEO / Chairperson | |
| /s/ Bill Roeschlein, as attorney-in-fact | 06/03/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Represents an exercise and sale by the reporting person of a stock option that was set to expire on June 19, 2026. |
| (2) | Includes 57,971 shares of Common Stock underlying RSUs granted to the reporting person on August 11, 2023 (the "August 2023 Grant Date"), 222,220 shares of Common Stock underlying RSUs granted to the reporting person on September 16, 2024 (the "September 2024 Grant Date"), and 360,687 shares of Common Stock underlying RSU's granted to the reporting person on August 1, 2025 (the "August 2025 Grant Date") in each case, pursuant to the Issuer's 2023 Incentive Plan. One-Third (1/3) of the RSUs initially granted to the reporting person on August 11, 2023 vested and were delivered to the reporting person on August 11, 2024, the first anniversary of the August 2023 Grant Date, and one-third of the RSUs subject to the grant shall vest and be deliverable to the reporting person on each of the second and third anniversaries of the August 2023 Grant Date, subject to continued service through each such vesting date. |
| (3) | (Continuation of the Footnote (2)) One-Third (1/3) of the RSUs granted to the reporting person on September 16, 2024 vested and were delivered to the reporting person on September 16, 2025, the first anniversary of the September 2024 Grant Date, and one-third of the RSUs subject to the grant shall vest, and an equal number of shares of Common Stock will be deliverable to the reporting person, on each of the second and third anniversaries of the September 2024 Grant Date, subject to continued service through each such vesting date. One-Third (1/3) of the RSUs granted to the reporting person on August 1, 2025 shall vest, and an equal number of shares of Common Stock will be deliverable to the reporting person, on each of the first three anniversaries of the August 2025 Grant Date, subject to continued service through each such vesting date. |
| (4) | Represents the weighted average sale price. The shares were sold in multiple transactions at prices ranging from $3.79 to $3.92. |
| (5) | Represents the weighted average sale price. The shares were sold in multiple transactions at prices ranging from $3.64 to $3.83. |
| (6) | Represents the weighted average sale price. The shares were sold in multiple transactions at prices ranging from $3.45 to $3.73. |
| (7) | The stock option was fully exercisable on May 31, 2020. |