Piper Sarah 4/A
Research Summary
AI-generated summary
McCormick (MKC) CHRO Sarah Piper Exercises RSUs; Shares Withheld
What Happened
Sarah Piper, Chief Human Relations Officer at McCormick & Co. (MKC), converted 2,230 restricted stock units (RSUs) into company shares on 2026-02-15 (no purchase price required). To cover tax obligations related to equity awards, a total of 2,844 shares were withheld/disposed: 2,102 shares at $71.61 each ($150,524) and 742 shares at $71.61 each ($53,135), totaling approximately $203,659. This Form 4 is an amendment correcting an administrative error in previously reported beneficial ownership.
Key Details
- Transaction date: February 15, 2026.
- Acquired: 2,230 shares via RSU conversion (code M; no cash purchase price).
- Disposed/withheld for taxes: 2,102 shares @ $71.61 = $150,524; 742 shares @ $71.61 = $53,135 (codes F).
- Total shares withheld/disposed on record: 2,844; total withholding proceeds ≈ $203,659.
- Footnotes: F1 — shares withheld to satisfy tax liabilities on previously reported LTIP awards; F2 — RSUs (no purchase price); F3 — this filing amends the original Form 4 to correct beneficial ownership reporting.
- Filing history: original Form 4 filed Feb 18, 2026; this amendment filed Mar 24, 2026 to fix an administrative reporting error.
Context
This was primarily a conversion of RSUs into shares with routine tax-withholding (shares withheld/disposed) to cover tax liabilities. Withholding of shares for taxes is common and does not necessarily signal a voluntary sale for investment reasons. The amendment addresses reporting accuracy (beneficial ownership figures), so retail investors should treat this as administrative correction rather than a new trading decision.