Smiddy Craig R 4

What Happened

• Craig R. Smiddy (President & CEO; Director) reported the vesting/conversion of 9,628 restricted stock units (RSUs) on March 6, 2026. Of those shares, 2,821 were surrendered to cover taxes at an implied price of $42.07 per share, yielding $118,679 in tax withholding. The RSU conversion is recorded as a derivative exercise/conversion (code M) with no cash exercise price; net shares retained from this vesting = 6,807.

Key Details

• Transaction date: March 6, 2026; Form 4 filed March 10, 2026 (filed 4 days after the transaction).
• Acquired on conversion: 9,628 shares (RSUs converted one-for-one per footnote).
• Surrendered for tax withholding: 2,821 shares at $42.07 = $118,679 (code F).
• Net shares retained from this vesting: 6,807 (9,628 − 2,821).
• Footnotes: RSUs convert 1:1 (F1); filing notes 27,388 unvested restricted stock awards still outstanding (F2); the surrender was to cover tax liability on vesting (F3); the RSUs were granted Mar 6, 2024 and vest in three equal annual installments beginning Mar 6, 2025 (F4).
• Filing timeliness: Reported on Mar 10 for a Mar 6 transaction — Section 16 filings are typically due within two business days, so this filing appears later than the usual window.

Context

• This was a routine RSU vesting and share-withholding for taxes, not an open-market sale or a cash purchase. Code M denotes conversion/exercise of a derivative (here, RSUs); code F denotes shares surrendered to satisfy tax withholding. Such surrender-withholding is common and does not by itself signal a directional opinion on the stock.