Casey's (CASY) Director Judy Schmeling Exercises RSUs, Receives Award

What Happened

• Judy Schmeling, a non‑employee director of Casey's General Stores (CASY), had 326 restricted stock units (RSUs) vest and be converted to shares on 2026-09-02; those 326 shares were immediately disposed of with $0 proceeds. On the same date she received a separate grant of 220 RSUs (no cash consideration).
• All reported transactions show $0.00 per-share price and $0 total proceeds/value. The 326-unit award had vested as of Casey's 2026 annual shareholder meeting; the 220-unit award will vest in full at Casey's 2027 annual shareholder meeting.

Key Details

• Transaction date(s): 2026-09-02 (reported on Form 4 filed 2026-09-04).
• Prices and values: $0.00 per share; $0 total reported proceeds/value for each line.
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes: F1 defines RSUs as the right to receive one share upon vesting; F2 indicates the 220 RSU grant is under the 2025 Stock Incentive Plan and vests at the 2027 shareholder meeting; F3 notes the 326 RSUs had vested at the 2026 shareholder meeting.
• Filing timeliness: Form 4 was filed two days after the transaction date (filed 2026-09-04 for a 2026-09-02 transaction), which is within the typical two‑business‑day reporting window.

Context

• The zero-dollar conversion and immediate disposal is consistent with a common net‑settlement or share‑surrender to satisfy tax withholding obligations following RSU vesting (conversion of derivative awards to common stock, then surrender/disposition). This is not an open‑market sale and does not represent a cash investment decision.
• These entries reflect routine non‑employee director equity compensation rather than a market purchase; purchases are generally more indicative of bullish insider sentiment, while vesting/withholding events are typically administrative.