Walter Jennifer 4
4 · MOOG INC. · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
Moog (MOGA/MOGB) CFO Jennifer Walter Exercises SARs
What Happened
Jennifer Walter, Chief Financial Officer of Moog Inc., exercised 1,000 Stock Appreciation Rights (SARs) on March 9, 2026. The exercise resulted in the issuance of 1,000 shares, of which 619 shares were withheld to satisfy tax withholding, leaving Walter with 381 net shares. She paid an exercise amount of $71,648 (1,000 × $71.65); the company used a fair market value of $343.39/share to calculate withholding (619 × $343.39 = $212,558). The 381 shares retained are worth roughly $130,832 at the $343.39 FMV.
Key Details
- Transaction date: March 9, 2026; Form filed March 11, 2026.
- Primary actions: Exercised 1,000 SARs (derivative exercise); 619 shares withheld for taxes (reported as a disposition).
- Prices/values: Exercise price total $71,648 (1,000 × $71.65); withholding value $212,558 (619 × $343.39); approximate value of net 381 shares ≈ $130,832.
- Shares owned after transaction: Not specified in the filing.
- Relevant footnotes: F2 explains the withholding (619 shares withheld) and F4–F5 confirm these were SARs granted under Moog’s 2014 LTIP with standard vesting. F1 notes 63 ESPP shares acquired on 12/31/2025 (separate).
- Filing timeliness: Form lists transaction date 3/9/2026 and filing date 3/11/2026 (no late-filing flag noted in the provided data).
Context
This was a compensation-related derivative exercise (SARs). The structure — exercising SARs and having shares withheld to cover taxes — is a common, routine way executives realize equity-based compensation and does not by itself indicate a buy or sell market view. The transaction was a cashless-style settlement of SARs (shares issued and immediately withheld for tax obligations).
Insider Transaction Report
- Exercise/Conversion
Class B Common
[F1]2026-03-09$71.65/sh+1,000$71,648→ 14,913 total - Tax Payment
Class B Common
[F2]2026-03-09$343.39/sh−619$212,558→ 14,294 total - Exercise/Conversion
SAR
[F4][F5]2026-03-09−1,000→ 1,000 totalExercise: $71.65Exp: 2026-11-15→ Class B Common (1,000 underlying)
- 4,604
Class A Common
- 770(indirect: 401 (k))
Class B Common
[F3] - 1,611
SAR
[F4][F5]Exercise: $82.31Exp: 2027-11-14→ Class B Common (1,611 underlying) - 1,741
SAR
[F4][F5]Exercise: $80.19Exp: 2028-11-13→ Class B Common (1,741 underlying) - 11,323
SAR
[F4][F5]Exercise: $85.95Exp: 2029-11-12→ Class B Common (11,323 underlying) - 7,611
SAR
[F4][F5]Exercise: $73.39Exp: 2030-11-17→ Class B Common (7,611 underlying) - 6,539
SAR
[F4][F5]Exercise: $83.00Exp: 2031-11-16→ Class B Common (6,539 underlying) - 1,532
RSU
[F6][F7]→ Class B Common (1,532 underlying)
Footnotes (7)
- [F1]Includes 63 shares of Class B common stock acquired under the Moog Inc. Employee Stock Purchase Plan on December 31, 2025.
- [F2]This represents the difference between the number of SARs exercised (1,000) and the number of shares issued as a result of the exercise (381). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the FMV on the date of exercise ($343.39) and the exercise price ($71.648). Additional shares are then withheld to satisfy the Company's tax withholding obligations.
- [F3]Reflects equivalent shares held in Moog Inc. Retirement Savings Plan as of the most recent report to participants.
- [F4]Stock Appreciation Rights (SAR) granted under the Moog Inc. 2014 Long Term Incentive Plan.
- [F5]SARs become exercisable ratably over three years beginning on the first anniversary from the date of grant.
- [F6]Restricted Stock Units (RSU) granted under the Moog Inc. 2025 Long Term Incentive Plan. 33.33% of the total RSUs granted will each vest on November 15, 2026; November 15, 2027; and November 15, 2028.
- [F7]Each RSU represents a contingent right to receive one share of Moog Inc.'s Class B common stock.