CROSBY WENDEL enters UNIVERSAL STAINLESS & ALLOY PRODUCTS INC with 49.88K shares plus derivative instruments

Holding both equity and derivatives at entry signals strong long-term conviction in the company.

Direct Derivatives

CROSBY WENDEL

Filed: 5/21/2021ACC: 0001809689-21-000013

InsiderCROSBY WENDELCIK 1863456

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IssuerUNIVERSAL STAINLESS & ALLOY PRODUCTS INCCIK 931584

Officer· Vice President of Manufacturin

Since May 2021

49.88K

Baseline shares

100% direct

49.88K

Direct ownership

1 position

31K

Derivative underlying

7 instruments

Security positions

All direct

Non-Derivative Holdings1

USAP Common Stock

Direct

Shares owned49.88K

Total

49.88K direct49.88K

Security Title	Shares Owned	Ownership Type
USAP Common Stock	49.88K	Direct
Total	49.88K	49.88K direct

Derivative Holdings7

Stock Option (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

4.50K

Shares owned

N/A

Exercise price

20.29

Expiration

—

Exercise window

—

Stock Option (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

N/A

Exercise price

14.39

Expiration

—

Exercise window

—

Stock Option (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

4.50K

Shares owned

N/A

Exercise price

9.19

Expiration

—

Exercise window

—

Stock Option (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

4.50K

Shares owned

N/A

Exercise price

19.41

Expiration

—

Exercise window

—

Stock Option (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

4.50K

Shares owned

N/A

Exercise price

11.18

Expiration

—

Exercise window

—

Stock Option (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

N/A

Exercise price

26.14

Expiration

—

Exercise window

—

Stock Option (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

N/A

Exercise price

6.42

Expiration

—

Exercise window

—

Total

Underlying

31K

Owned

0.00

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Stock Option (Right to Buy) Direct	Common Stock	20.29	—	—	4.50K	N/A
Stock Option (Right to Buy) Direct	Common Stock	14.39	—	—	4K	N/A
Stock Option (Right to Buy) Direct	Common Stock	9.19	—	—	4.50K	N/A
Stock Option (Right to Buy) Direct	Common Stock	19.41	—	—	4.50K	N/A
Stock Option (Right to Buy) Direct	Common Stock	11.18	—	—	4.50K	N/A
Stock Option (Right to Buy) Direct	Common Stock	26.14	—	—	4K	N/A
Stock Option (Right to Buy) Direct	Common Stock	6.42	—	—	5K	N/A
Total					31K	0.00