02/12/2026 | Press release | Distributed by Public on 02/12/2026 16:07
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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 | ||||||||
| Restricted Stock Units | (1)(2) | 02/10/2026 | A | 150,000 | (1) | (1) | Common Stock | 150,000 | $ 0 | 150,000 | D | ||||
| Restricted Stock Units | (2)(3) | 02/10/2026 | A | 100,000 | (3) | (3) | Common Stock | 100,000 | $ 0 | 100,000 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Vilade John Thomas Jr 8484 GEORGIA AVENUE SUITE 700 SILVER SPRING, MD, MD 20910 |
Chief Commercial Officer | |||
| /s/ P. Brady Hayden as attorney-in-fact for John T. Vilade | 02/12/2026 | |
| **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) | On February 10, 2026, the Company granted Mr. Vilade 150,000 restricted stock units (RSUs) with tandem dividend equivalent rights under the Company's 2020 Omnibus Incentive Plan. The RSUs granted will vest in four tranches of 37,500 each upon the date the Board of Directors determines that the applicable performance condition has been achieved: (i) the Company's common stock achieves a 10-day Volume Weighted Average Price (VWAP) of $6.50 or achievement of 2026 Company annual bonus plan targets (at 100%); (ii) the common stock achieves a 10-day VWAP of $7.50 or achievement of 2027 Company annual bonus plan targets (at 100%); (iii) the common stock achieves a 10-day VWAP of $9.50 or achievement of 2028 Company annual bonus plan targets (at 100%); and (iv) the common stock achieves a 10-day VWAP of $11.50 or achievement of 2029 Company annual bonus plan targets (at 100%). Any RSUs not earned by January 31, 2030, will be cancelled. |
| (2) | Each RSU represents the right to receive one share of common stock and will be settled upon vesting (or within 30 days thereafter). All vesting events are subject to continued employment on each applicable vesting date. |
| (3) | On February 10, 2026, the Company granted Mr. Vilade 100,000 RSUs with tandem dividend equivalent rights under the Company's 2020 Omnibus Incentive Plan. The RSUs will vest in four tranches of 25,000 each on the first, second, third and fourth anniversaries of the grant date. |
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Remarks: Exhibit 24, Power of Attorney, is attached |
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