Code M: Exempt exercise or conversion under Rule 16b-3
21.8%of all 2025 Form 4 transactions
14.4%of Table I lines (non-derivative)
41.7%of Table II lines (derivative)
83,684transaction lines filed
Exercise or conversion of derivative security exempted pursuant to Rule 16b-3
Use it when
- Exercising a stock option granted under a Rule 16b-3 exempt plan.
- Converting a convertible security under a Rule 16b-3 exempt arrangement.
- Converting securities from an A-code grant that are now being exercised.
EDGAR expects
| Table II | Disposition of the derivative security |
| Table I | Acquisition of the underlying Table I security equivalent to the (conversion ratio x Table II securities converted) |
| Code | M |
| Disposed (Table II) | D, disposition of the derivative |
| Acquired (Table I) | A, acquisition of the underlying security |
| Conversion or exercise price | Populated here |
| Price of derivative security column | Leave blank |
What the footnote typically covers
- What is the conversion or exercise price?
- What is the date exercisable and expiration date for the derivative?
- What is the title and amount of the underlying security received?
- What is the conversion ratio of the derivative security to the underlying security?
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