DeLuca Richard R. 4

What Happened

• Richard R. DeLuca, EVP & President of Merck Animal Health, had 2,518 shares result from exercise/conversion of derivative awards on 2026-04-29. The filing shows an acquisition value of $277,056 (2,518 shares at $110.03).
• To satisfy tax/exercise obligations, 1,241 shares were surrendered/withheld (reported as a disposition) valued at $136,547 (1,241 shares at $110.03). Net shares retained from the transaction = 1,277 shares (2,518 − 1,241).
• This transaction reflects the exercise/conversion and standard tax withholding of equity awards rather than an open-market purchase or a discretionary sale.

Key Details

• Transaction date: 2026-04-29; Exercise/conversion reported at $110.03 per share (2,518 shares = $277,056).
• Tax/exercise withholding: 1,241 shares surrendered at $110.03 each (=$136,547).
• Net shares received: 1,277 shares. Total shares held after the transaction are not listed in the provided data.
• Footnotes: F1 – holdings include dividend reinvestment; F2 – each restricted stock unit (RSU) equals one share; F3 – these RSUs vest/distribute in three equal installments on 4/29/2026, 4/29/2027 and 4/29/2028.
• Filing timing: Reported on 2026-05-01 for a 2026-04-29 transaction — filed within the typical two-business-day Form 4 window (not marked late).

Context

• This appears to be conversion/vesting of equity awards (RSUs) with shares withheld to cover taxes — a common, administrative transaction. The filing shows an acquisition via conversion/exercise (M) and tax withholding (F); no open-market buy or discretionary sale is indicated.
• For retail investors: such vesting/withholding events are routine and reflect compensation mechanics rather than a direct insider bullish or bearish trade signal.