Trinity (TRN) Director Todd Maclin Receives 1,375 Phantom Units

What Happened

• Todd Maclin, a director of Trinity Industries, received 1,375 phantom stock units on 2026-09-30. The units were recorded at $25.54 each for a total reported value of $35,118. This transaction is an award/acquisition (code A) of derivative units, not an open‑market purchase of common shares.

Key Details

• Transaction date: 2026-09-30; filing date: 2026-10-01 (timely).
• Amount: 1,375 phantom stock units at $25.54 per unit; total value reported $35,118.
• Transaction type: Award/acquisition of derivative units (code A).
• Shares owned after transaction: Not disclosed on this Form 4.
• Footnote: The units are "Trinity Phantom Stock Units" under the Deferred Plan for Directors Fees, converted 1-for-1 to share equivalents and payable in cash after the reporting person's retirement (see footnote F1).

Context

• Phantom stock units mirror the economic value of common shares but are settled in cash upon retirement; they do not represent immediate issuance of common stock to the insider. Grants to directors under deferred compensation plans are common and typically reflect routine compensation rather than a direct market buy/sell signal.