Larson Betty D 4

What Happened
Betty D. Larson, Executive Vice President & Chief Human Resources Officer at Merck (MRK), had restricted stock units vest on 4/29/2026 and 4/30/2026. The vesting converted into 13,435 shares with an aggregate market value of about $1.49M (2,085 shares @ $110.03 on 4/29; 11,350 shares @ $110.95 on 4/30). To satisfy tax withholding obligations, 5,858 shares (total value ≈ $649K) were withheld, leaving Larson with a net ~7,577 newly issued shares (net value ≈ $839K).

Key Details

• Transaction dates and prices:
  • 2026-04-29: 2,085 shares converted @ $110.03 (acquired, $229,413); 715 shares withheld @ $110.03 (disposed, $78,671); 2,085 RSU derivative entries recorded at $0 (conversion).
  • 2026-04-30: 11,350 shares converted @ $110.95 (acquired, $1,259,283); 5,143 shares withheld @ $110.95 (disposed, $570,616); 11,350 RSU derivative entries recorded at $0 (conversion).
• Totals: 13,435 shares issued (acquired) worth ~$1.49M; 5,858 shares withheld for taxes worth ~$649K; net 7,577 shares retained ($839K).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 = each restricted stock unit (RSU) converts to one Merck share; F2 and F3 describe the RSU vesting schedules (three equal installments across the listed years). The F (disposition) code here reflects tax withholding.
• Timeliness: Filing date 2026-05-01 for transactions on 4/29–4/30/2026; no late filing flag indicated in the provided data.

Context
This filing represents RSU vesting and conversion into common shares, not an open-market purchase or voluntary sale. The withholding of shares to cover taxes is a common "cashless" method that reduces the number of shares the insider actually receives. Transaction codes: M = exercise/conversion of derivative (RSU conversion here); F = disposition to satisfy tax obligations.