MANGAN MICHAEL D 4

What Happened
Michael D. Mangan, a director of McCormick & Co. (MKC), executed a series of equity transactions in early February 2026. On 2026-02-05 he exercised/converted derivative awards resulting in 5,000 shares acquired at $49.96 per share (total $249,800). On the same date 3,751 shares were disposed (withheld) to satisfy tax withholding obligations, recorded at $66.58 per share (total ~$249,742). The filing also shows a 5,000-share derivative conversion reported at $0 (booked as disposed). On 2026-02-06 he was granted 2,598 restricted stock units (RSUs) that vest in full on 2027-02-15 and will be settled in shares.

Key Details

• Transaction dates: 2026-02-05 (option exercise/conversion and tax withholding) and 2026-02-06 (RSU grant).
• Prices/values reported: 5,000 shares acquired @ $49.96 = $249,800; 3,751 shares withheld @ $66.58 = $249,742. A separate 5,000-share derivative line is shown at $0.
• Shares owned after the transactions: not disclosed in this Form 4.
• Footnotes: F1 — options exercised; no purchase price required. F2 — RSU represents a contingent right to one share. F3 — RSUs vest 2/15/2027 and will be settled in shares.
• Filing timeliness: Form filed 2026-02-09 for transactions on 2026-02-05; filing date falls within the normal Form 4 reporting window (not marked late).

Context

• The combination of an option exercise and a simultaneous withholding of shares to cover taxes is commonly a cashless-style settlement (company or broker withholds shares to satisfy tax obligations). This is generally a routine administrative step and not a clear buy/sell market signal by itself.
• The RSU grant is an award that vests in one year (2/15/2027), so those shares are not immediately tradable until vesting and settlement.
• All statements above are factual summaries of the Form 4 entries; no inference about the insider’s motives is made.