Lewis Cheryl 4

What Happened

• Cheryl Lewis, Executive Vice President & Chief Human Resources Officer of Regal Rexnord (RRX), exercised 5,045 stock appreciation rights (SARs) on 2026-02-09. Of the resulting shares, 2,783 were withheld to satisfy tax withholding obligations (value ~$602,770 at a weighted average price) and 2,262 shares were sold in the open market for ~$487,981. The transactions were reported on a Form 4 filed 2026-02-11.
• Net effect: 5,045 SARs were converted to shares and roughly $1.09M of the resulting value was realized via tax withholding and an open-market sale. These actions are routine (exercise + tax withholding + sale) rather than a new cash purchase.

Key Details

• Transaction date: 2026-02-09; Form 4 filed: 2026-02-11 (timely filing).
• Exercise: 5,045 SARs (derivative exercise, code M) resulting in acquisition of 5,045 shares.
• Tax withholding (code F): 2,783 shares withheld at a weighted average price reported as $216.59 (prices actually ranged $215.70–$216.34).
• Open-market sale (code S): 2,262 shares sold at a weighted average price $215.73, total ~$487,981.
• Shares owned after transaction: not specified in the provided filing summary.
• Footnote: SAR vesting schedule noted (34%/67%/100% on anniversaries per footnote), and weighted-average pricing disclosed with a price range per footnote.

Context

• This was an exercise of SARs with immediate withholding to cover taxes and a contemporaneous open-market sale — a common, routine cashless-exercise/tax-withholding pattern, not necessarily an indicator of new conviction or lack thereof.
• The F code indicates shares were surrendered/withheld to satisfy tax obligations; the S code indicates open-market sale of remaining shares. No 10b5-1 plan, gift, or unusual restrictions were indicated in the filing.