Karsanbhai Surendralal Lanca 4

What Happened

• Director Surendralal Lanca received a grant (listed as a derivative acquisition) of 1,853.1 shares/units on 2026-05-29 at a per-unit value of $118.72, for a total reported value of $220,000. This was an award/grant (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-05-29; filing date: 2026-06-02 (appears timely under the Form 4 two-business-day rule).
• Instrument: Derivative award (phantom stock units), 1,853.1 units @ $118.72 = $220,000 (reported as an acquisition, code A).
• Settlement: Footnote F2 indicates the phantom stock units will be settled 100% in cash upon the reporting person's termination of service, under the Plan for Deferred Payment of Directors' Compensation.
• Other footnotes: F1 indicates a 1-for-1 ratio; F3 notes holdings may include shares acquired via dividend reinvestment.
• Shares owned after the transaction: not specified in the summary provided.

Context

• This was an award of deferred/phantom stock units (a compensation grant), not a buy or sell of common stock; such awards are routine director compensation and are settled in cash per the plan rather than creating immediate common-stock ownership.