Purushothaman Balaji 4

What Happened

• Purushothaman Balaji, Chief Human Resources Officer of Procter & Gamble (PG), exercised 12,827 derivative awards and sold those 12,827 shares on Feb 11, 2026. The exercise/cost reported was $91.07 per share (total $1,168,155) and the shares were sold at a weighted average price of $160.31 per share (total proceeds ~$2,056,287). An additional line in the filing shows a derivative conversion/disposition of 12,827 shares at $0 (see Key Details).

Key Details

• Transaction date: 2026-02-11; Form 4 filed 2026-02-13 (timely within the 2-business-day window).
• Exercise/acquisition: 12,827 shares @ $91.07 = $1,168,155 (code M).
• Sale/disposition: 12,827 shares @ weighted avg $160.31 = $2,056,287 (code S). Price range for the sale: $160.30–$160.36 (Footnote F1).
• Derivative/conversion line: 12,827 shares reported disposed at $0 (code M) — reported in the filing as part of the same exercise/conversion.
• Shares owned after transaction: not disclosed in the provided excerpt.
• Footnotes: F1 notes the weighted-average price and price range for the sale; F2 notes an adjustment to PST through Dec 31, 2025.
• Filing timeliness: filed on Feb 13 for a Feb 11 transaction — appears timely.

Context

• This pattern (exercise of derivative awards followed by an immediate sale of the same shares) is commonly a cashless exercise or a transaction to cover exercise costs/taxes rather than a new open-market purchase. Such transactions convert option value to cash and do not necessarily indicate a long-term purchase signal.
• Balaji is an executive officer (CHRO), not a 10% owner; this was an individual executive transaction, not institutional trading.