Darden James Matthew 4/A

What Happened

James Matthew Darden, Co‑Chairman & CEO and Director of Globe Life Inc. (GL), exercised 18,318 options on March 4, 2026 at $100.74 per share (cost ≈ $1,845,355) and sold the 18,318 shares the same day in open‑market transactions for total proceeds ≈ $2,657,995. The filing also shows the related derivative position was canceled (reported as disposed at $0.00). The transactions produced gross proceeds of about $2.66M and a pre‑tax/net‑of‑exercise gain of approximately $812,640.

Key Details

• Transaction date: March 4, 2026 (Form 4 period); filing amended and submitted April 28, 2026.
• Exercise (code M): 18,318 shares at $100.74 = $1,845,355 (acquired).
• Sale (code S): 18,318 shares at an average reported $145.10 = $2,657,995 (disposed). Footnote F2 states sales ranged $145.00–$145.275; F1 notes the reporting person will provide a breakdown of shares sold at each price on request.
• Related derivative line: 18,318 shares reported as disposed at $0.00 (reflects cancellation of the derivative after exercise).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Timeliness: This is an amended filing dated Apr 28, 2026 for a Mar 4 transaction (outside the usual 2‑business‑day reporting window).

Context

• This sequence (exercise followed by same‑day sale) is commonly a cashless exercise—options are exercised and the resulting shares are immediately sold to cover exercise cost/taxes. The filing is factual and does not state motivation.
• For retail investors: purchases often signal conviction, but same‑day exercises with sales typically reflect option execution and liquidity management rather than a straightforward bullish personal investment.