State Street (STT) EVP Michael L. Richards Receives Award, Sells Shares

What Happened
Michael L. Richards, EVP and Senior Advisor at State Street (STT), settled a performance award on February 13, 2026 and was credited with 11,115 shares (reported as acquired at $0.00). On the same date, 3,953 shares and 2,400 shares were withheld/disposed to satisfy tax withholding obligations at $127.97 per share, producing reported values of $505,865 and $307,128 (total ~$812,993).

Key Details

• Transaction date: 2026-02-13 (reported on Form 4 filed 2026-02-18).
• Award: 11,115 shares granted/settled (code A) at $0.00.
• Withholdings/dispositions: 3,953 shares (3,953 × $127.97 = $505,865) and 2,400 shares (2,400 × $127.97 = $307,128) (code F). Total withheld value ≈ $812,993.
• Shares owned after the transaction: not specified in the provided data; footnote F4 says the balance in the filing reflects beneficial ownership as of the report date.
• Notable footnotes: F1 = settlement of a performance award (granted Feb 24, 2023 for 2022 comp); F2/F3 = shares withheld to satisfy tax withholding (for the performance award and previously awarded deferred stock); F4 = balance reflects shares beneficially owned as of report date.
• Filing timeliness: transactions on Feb 13 were reported on Feb 18 (about five days later), which appears to be outside the usual two business‑day Form 4 filing window and may indicate a late filing.

Context
This was a settlement of a performance-based award, not an open-market purchase. The withheld shares are a routine cashless withholding to cover tax obligations and are reported as dispositions (code F). Such award settlements and withholdings are common and do not, by themselves, indicate a change in the insider’s market view.