Underberg Sharon E.

Underberg Sharon E., serving as EVP, GC & Corporate Secretary, has filed 39 Form 4 transactions, all tied to a single issuer: IDEXX Laboratories (IDXX). The aggregate picture is unambiguous: her open-market activity consists entirely of sales, with zero purchases recorded. The only outright sale in the dataset occurred on August 8, 2025, when she disposed of IDXX shares valued at approximately $3.55 million. That sale was paired with an option exercise the same day worth about $1.13 million, a mechanical transaction that typically precedes a disposition. No open-market buys appear anywhere in the filing history, and the most recent sell-side event is that August 2025 transaction. The pattern around that sale is consistent with routine equity compensation management rather than a directional bet. In the months surrounding the August 2025 disposition, Underberg received multiple grants (coded "A") in February 2025 and February 2026, each valued at $0, indicating award issuances without cash consideration. She also executed several option exercises (coded "M") with values ranging from roughly $99,000 to $112,000, and had shares withheld to cover taxes (coded "F") in February 2025 and February 2026, worth about $97,000 and $158,000, respectively. The most recent filings, dated March 3, 2026, show another option exercise valued at $99,589, but no corresponding sale. The trajectory is one of steady accumulation of equity through compensation, periodic option exercises, and occasional large-scale liquidation. The single $3.55 million sale dwarfs all other cash transactions, but it was an isolated event—no subsequent sales have been filed in the eight months since. The absence of any open-market purchases, combined with the recurring exercise-and-hold or exercise-and-sell rhythm, suggests a passive, schedule-driven approach to managing her stake rather than an active accumulation or distribution campaign. For investors tracking insider conviction, the lack of any "P" coded buys is notable, but the sparse and sporadic nature of the sales does not indicate a sustained sell-off.