Transaction details
On April 13, 2026, director Lee Kang Jyh of Photronics Inc. (NASDAQ: PLAB) sold 5,000 shares of the company's common stock at $45 per share, generating proceeds of $225,000. On the same day, Lee exercised options to acquire 5,000 shares at an exercise price of $8.6, for a total outlay of $43,000.
Ownership following the transactions
After completing the sale and the option exercise, Lee directly holds 385,850 shares of Photronics common stock. The exercised options were part of a grant with a stated vesting schedule and an expiration date that remains relevant for future exercises.
Options terms
The options Lee exercised have an $8.6 exercise price. According to the documented vesting schedule, these options vested in four equal annual installments, with 25% vesting on each of the first four anniversaries of the grant date, which was January 2, 2018. The options are exercisable for Photronics common stock and carry an expiration date of January 2, 2028.
Market context
Photronics shares have climbed sharply over the last year, producing a 155% total return. As of the reporting around these transactions, the stock was trading close to its 52-week high of $46.49. Separately, InvestingPro analysis cited in the reporting indicates the stock currently appears overvalued relative to its Fair Value.
Recent financial performance and operational developments
Photronics reported fiscal first-quarter 2026 results that surpassed analyst expectations. The company delivered earnings per share of $0.61, versus the projected $0.5267, a positive surprise of 15.82%. Revenue for the quarter reached $225.07 million, topping the forecast of $220.83 million by 1.92%.
Operationally, Photronics announced plans to install an advanced mask writer at its Korea facility. The company indicated that the installation is scheduled for fiscal Q2 2026 and is expected to enhance production capabilities for AMOLED photomasks. The announcement was described as a technological step for the company in the area of photomask manufacturing.
Analyst action and governance
Craig-Hallum raised its price target on Photronics to $48, up from $42, while maintaining a Buy rating. The firm attributed the higher target to Photronics’ strategic position as semiconductor manufacturers increasingly outsource photomask production.
At the company’s annual shareholders’ meeting, eight directors were elected to Photronics’ board, and shareholders approved the company’s auditor and executive compensation. These governance actions were recorded alongside the operational and financial updates.
What the record shows
The filings and company statements set out the sale, the option exercise, the vesting and expiration schedule of the options, the company’s recent earnings beat, the planned mask writer installation in Korea, the analyst price-target increase, and the annual meeting outcomes. The public information does not attribute a reason for Lee’s sale beyond the recorded transaction data.
Note: This report presents the transaction and corporate developments as disclosed in filings and company announcements.