MACLIN TODD 4

What Happened Todd Maclin, a director of Trinity Industries, was granted 1,006 phantom stock units on June 30, 2026. The units are recorded at $34.58 each for a total reported value of $34,787. The transaction is coded as an award/acquisition (derivative), not an open-market purchase of common shares.

Key Details

• Transaction date and price: June 30, 2026 — 1,006 units @ $34.58 each (total ~$34,787).
• Shares owned after transaction: Not specified in the filing.
• Footnote: These are Trinity Phantom Stock Units under the Deferred Plan for Directors’ Fees; converted 1-for-1 into the equivalent of Trinity common shares. Settlement will be in cash after the reporting person's retirement.
• Filing: Form 4 filed July 2, 2026 (covers the June 30 transaction) — appears to be filed within the typical Form 4 reporting window.
• Transaction type: Award/Grant of a derivative instrument (not actual shares or an option exercise).

Context Phantom stock units track the value of the company’s common stock but are typically settled in cash and do not confer voting rights or actual share ownership until settlement. Grants like this are common for director compensation and are usually routine, so they don’t necessarily signal a personal bullish or bearish view by the director. The reported value (~$34.8k) is modest and consistent with deferred director fees.