Boyd Iain 4
4 · Snap-on Inc · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Snap-on (SNA) VP Iain Boyd Exercises Options, Receives Awards
What Happened
- Iain Boyd (VP - Operations Development) reported multiple derivative and award transactions on Feb 12, 2026. The filing shows exercise/conversion activity (1,031 shares reported) and the grant/award of three derivative awards totaling 2,213, 533 and 1,065 units (3,811 units total). To cover tax and related obligations, 349 shares were withheld at $378.55 each (total ≈ $132,114) and 448 shares were surrendered to the issuer; 1,031 shares are also reported as disposed in connection with the exercise/conversion.
- These were mostly vesting/exercise and award transactions (not open-market purchases). Withholding and share surrender are routine administrative steps (tax withholding and issuer settlement), not an open-market sale.
Key Details
- Transaction date: all activity reported for 2026-02-12; Form 4 filed 2026-02-17 (filed timely).
- Price / value shown: 349 shares withheld at $378.55 each = $132,114. Other award lines show $0.00 (derivative grants) or N/A for exercise price in the filing excerpt.
- Shares involved: exercises/conversions (1,031 shares); awards/grants of 2,213, 533, and 1,065 units (total 3,811). Dispositions: 1,031 and 448 shares noted as disposed; 349 shares withheld for taxes.
- Notable footnotes:
- F1: 69.7% of certain performance units vested based on Company performance for 2023–2025 (the reporting person’s opportunity was up to 200% originally reported, subject to plan limits).
- F2: Shares were withheld to cover tax withholding upon vesting.
- F11: Payment will be made according to the reporting person’s deferral election, death, disability or termination rules.
- Other footnotes describe vesting/award mechanics and potential future performance-based vesting (targets and max payouts).
- Shares owned after transaction: not specified in the provided excerpt.
Context
- These transactions are derivative exercises and award vesting/settlements rather than open-market buys or voluntary sales. The withholding and surrendered shares indicate a net settlement/tax-withholding process commonly used when awards vest or options are exercised.
- The filing was submitted on Feb 17, 2026, which meets the Form 4 reporting window for the Feb 12, 2026 transactions (filed timely).
Insider Transaction Report
Form 4
Snap-on IncSNA
Boyd Iain
VP - Operations Development
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-12+1,031→ 13,850.73 total - Tax Payment
Common Stock
[F2]2026-02-12$378.55/sh−349$132,114→ 13,501.73 total - Disposition to Issuer
Performance Units
[F3][F1]2026-02-12−448→ 1,031 total→ Common Stock (448 underlying) - Exercise/Conversion
Performance Units
[F3][F1]2026-02-12−1,031→ 0 total→ Common Stock (1,031 underlying) - Award
Stock Option (Right to Buy)
[F5][F4]2026-02-12+2,213→ 2,213 totalExercise: $378.55From: 2027-02-12Exp: 2036-02-12→ Common Stock (2,213 underlying) - Award
Restricted Stock Units
[F3][F6]2026-02-12+533→ 533 totalFrom: 2029-02-12Exp: 2029-02-12→ Common Stock (533 underlying) - Award
Performance Units
[F3][F7]2026-02-12+1,065→ 1,065 total→ Common Stock (1,065 underlying)
Holdings
- 706.602(indirect: By 401(k))
Common Stock
- 1,558
Stock Option (Right to Buy)
[F8]Exercise: $211.67Exp: 2032-02-10→ Common Stock (1,558 underlying) - 2,158
Stock Option (Right to Buy)
[F8]Exercise: $249.26Exp: 2033-02-09→ Common Stock (2,158 underlying) - 2,978
Stock Option (Right to Buy)
[F4]Exercise: $269.00From: 2025-02-15Exp: 2034-02-15→ Common Stock (2,978 underlying) - 2,280
Stock Option (Right to Buy)
[F4]Exercise: $339.73From: 2026-02-13Exp: 2035-02-13→ Common Stock (2,280 underlying) - 642
Restricted Stock Units
[F3][F6]From: 2027-02-15Exp: 2027-02-15→ Common Stock (642 underlying) - 533
Restricted Stock Units
[F3][F6]From: 2028-02-13Exp: 2028-02-13→ Common Stock (533 underlying) - 1,285
Performance Units
[F3][F9]→ Common Stock (1,285 underlying) - 1,066
Performance Units
[F3][F10]→ Common Stock (1,066 underlying) - 402.598
Deferred Stock Units
[F3][F11]→ Common Stock (402.598 underlying)
Footnotes (11)
- [F1]Based on Company performance during the 2023-2025 period, 69.7% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported, subject to plan limits).
- [F10]If the Company achieves certain goals over the 2025-2027 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
- [F11]Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.
- [F2]Shares were withheld to cover tax withholding upon the vesting of performance units.
- [F3]1 for 1.
- [F4]Original stock option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
- [F5]The transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option.
- [F6]The restricted stock units vest three years from the grant date on the date listed above, assuming continued employment.
- [F7]If the Company achieves certain goals over the 2026-2028 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
- [F8]Option fully vested.
- [F9]If the Company achieves certain goals over the 2024-2026 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
Signature
/s/ Ryan S. Lovitz under Power of Attorney for Iain Boyd|2026-02-13