NOVICH NEIL S 4

What Happened Neil S. Novich, a director of W.W. Grainger, received an award of 66 deferred stock units (reported as a derivative grant) on March 1, 2026. The units are reported at a per-share value of $1,144.73, for a total reported value of $75,552. This was an award/grant as part of director compensation, not an open-market purchase or sale.

Key Details

• Transaction date and value: 2026-03-01; 66 units @ $1,144.73 each; total $75,552.
• Type: Award/Grant (derivative — deferred stock units).
• Settlement: Footnotes indicate a 1-for-1 conversion and that the deferred stock units are expected to settle in shares of common stock following end of service as a director.
• Shares owned after transaction: Not specified in the provided filing.
• Filing date: Form 4 filed 2026-03-03 (two days after the reported transaction).

Context Deferred stock units are commonly used in director compensation and typically convert to actual shares on a one-for-one basis when the director’s service ends; they do not represent an immediate purchase or sale. Such awards are routine and should be interpreted as compensation, not a direct bullish or bearish trading signal.