Walter Jennifer 4

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).