PINCHUK NICHOLAS T 4

What Happened
Nicholas T. Pinchuk, Chairman, President & CEO (and Director) of Snap-on Inc., exercised 33,750 stock options (strike $168.70) on Feb 23, 2026, incurring an exercise cost of $5,693,625. On the same day he sold a total of 23,229 shares in multiple open‑market trades, generating approximately $8.9 million in proceeds (sales in tranches at weighted average prices between $381.36 and $388.68). This combination of an option exercise followed by share sales is routine and reflects a cashless/covering sale rather than an open‑market purchase.

Key Details

• Transaction date: February 23, 2026.
• Options exercised: 33,750 shares at $168.70 each — total exercise amount $5,693,625 (option fully vested).
• Shares sold: 23,229 shares in multiple trades, proceeds ≈ $8,905,028. Reported weighted‑average sale prices per tranche: $381.36, $382.19, $383.26, $384.22, $385.26, $386.35, $387.00, $388.68. (Trade price ranges shown in footnotes.)
• Footnotes: Transactions executed pursuant to a Rule 10b5‑1 plan adopted Nov 3, 2025; portions of the exercised shares were sold to cover exercise price and estimated tax withholding (cashless/withholding). Option exercise reported under Rule 16b‑3.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timeliness: report date and filing date are both Feb 23, 2026 (appears timely).

Context
This was an option exercise with immediate sales of a portion of the underlying shares to cover the exercise cost and taxes (a common cashless exercise). The sales were executed under a prearranged 10b5‑1 plan, which is designed to provide a predetermined method for selling shares and reduce timing concerns. For retail investors, purchases by insiders can be more informative than routine, planned sales; here the activity appears consistent with exercising vested options and monetizing part of the award rather than a discretionary market‑timed sale.