Biesterfeld Robert C Jr 4

What Happened
Robert C. Biesterfeld Jr., a director of Trinity Industries, was granted 847 phantom stock units on 2026-06-30 at an implied value of $34.58 each, for a total reported value of $29,289. This was an award of derivative units (transaction code A), not an open-market purchase of common stock.

Key Details

• Transaction date: 2026-06-30; Filing date (Form 4): 2026-07-02. No late filing is indicated in the report.
• Units granted: 847 phantom stock units @ $34.58 per unit; total reported value $29,289.
• Shares/units owned after transaction: not specified in the filing.
• Footnote: These are Trinity Phantom Stock Units accrued under the Trinity Industries, Inc. Deferred Plan for Directors’ Fees. Units convert at a 1-for-1 rate to share value but will be settled in cash after the reporting person's retirement.
• Security type: Derivative award (phantom units), not actual shares issued.

Context
Phantom stock units give the director a right to the economic value of shares (here converted 1-for-1) but do not transfer voting rights or increase outstanding share count. Director awards under deferred compensation plans are routine compensation and should be viewed as such rather than a direct market purchase or sale.