Mesa Laboratories Inc. (NASDAQ: MLAB) Chief Financial Officer John Sakys executed a sale of 2,827 shares of the company's common stock on June 22, 2026, according to a recent Securities and Exchange Commission (SEC) Form 4 filing. The transaction was processed at an average price of $89.502 per share, resulting in total proceeds of approximately $253,022. The sale was facilitated under a pre-arranged 10b5-1 trading plan, a mechanism designed to allow insiders to buy or sell stock at predetermined times without the appearance of trading on material non-public information.
The primary driver for this transaction was to cover tax liabilities associated with the vesting of restricted stock units (RSUs) and performance share units (PSUs) that occurred on June 18, 2026. Prior to the sale, Mr. Sakys had acquired a total of 6,074 shares of common stock. This acquisition included 3,792 shares received upon the vesting of RSUs at a price of $95.1 per share, totaling approximately $360,619. These RSUs represented a contingent right to receive common stock, with portions vesting on various dates, including June 21, 2024, and June 15, 2026.
Additionally, 2,282 shares were issued upon the release of performance share units under the company's FY24-FY26 program. These shares were also acquired at a price of $95.1 per share, totaling approximately $217,018. Following these transactions, Mr. Sakys directly holds 19,785 shares of Mesa Laboratories common stock. He also indirectly holds 50 shares as custodian for his children.
The sale comes as Mesa Laboratories stock currently trades at $94.37, giving the company a market cap of $526 million. According to InvestingPro analysis, the stock appears undervalued with a Fair Value of $112.51, placing it on the platform's most undervalued stocks list. The company's PEG ratio of 0.17 suggests attractive valuation relative to growth prospects.
In other recent news, Mesa Laboratories reported a challenging fourth quarter, with revenues falling 2% below consensus estimates. The company's Biological Products Division experienced a 32% decline in core revenue, attributed to export-control related shipping delays and poor commercial execution, according to Jefferies. Despite these setbacks, Jefferies raised its price target for Mesa Laboratories to $130 from $115, maintaining a Buy rating on the stock.
Additionally, Mesa Laboratories announced the planned departure of President and CEO Gary Owens, effective April 2026. Owens will remain in a non-executive role until June 2026 to aid in the transition to his successor. The company has also appointed Lyndsey Crennen as the new chief accounting officer. Crennen has been with Mesa Laboratories since 2018 and previously held roles at Chipotle Mexican Grill and PricewaterhouseCoopers. These developments indicate significant changes in Mesa Laboratories' leadership and operational strategies.