McCullough Christopher 4

What Happened

• On 2026-03-24 SunOpta General Counsel Christopher McCullough had 11,747 performance stock units (PSUs) convert into common shares (reported as exercise/conversion of a derivative, code M). To satisfy income tax withholding on the vesting, the company withheld 5,584 shares at $6.47 per share, a withholding value of $36,128 (code F). The conversion resulted in a net issuance of 6,163 shares to McCullough (11,747 converted − 5,584 withheld).
• This was not an open-market sale; it was a vesting/conversion event with a portion of shares retained by the company for tax withholding.

Key Details

• Transaction date: 2026-03-24; Form 4 filed 2026-03-26 (timely filing).
• Conversion: 11,747 PSUs converted into 11,747 shares (code M).
• Tax withholding: 5,584 shares withheld at $6.47 per share = $36,128 (code F).
• Net shares retained by insider after withholding: 6,163 shares (11,747 − 5,584).
• Footnotes: F1 — each PSU represents a contingent right to one share; F2 — the withheld shares reflect tax withholding on PSU vesting; F3 — filing also reports 1,141 ESPP shares purchased earlier that were not previously reported.
• Shares owned after transaction: total post-transaction ownership not provided in the filing beyond the net issued shares and the newly-reported ESPP shares.

Context

• PSUs are awards that convert into shares when performance/vesting conditions are met; this filing reflects conversion and tax-withholding (a routine administrative step), not an open-market sale or discretionary purchase.
• The withholding is effectively a cashless settlement to cover taxes and does not necessarily indicate a change in the insider’s market view.