Casey's (CASY) Director David Lenhardt Exercises Derivatives, Receives RSUs

What Happened

• David K. Lenhardt, a director of Casey's General Stores, had a derivative conversion/exercise that resulted in the acquisition of 326 shares and an immediate disposition of those 326 shares, and he was also granted 220 restricted stock units (RSUs). All transactions are reported at $0 per share in the filing; no cash value is shown in the excerpt.
• The 220 RSU grant is reported as a new award (will vest later per footnote), while the 326-share conversion relates to an award that vested earlier and was converted and then disposed on the same date.

Key Details

• Transaction date(s): 2026-09-02; Form 4 filed 2026-09-04 (timely filing).
• Reported prices: $0.00 per share for all items; reported total value $0 in the filing excerpt.
• Specifics:
  • Exercise/conversion (code M): 326 shares acquired at $0.00 and 326 shares disposed at $0.00 (same date).
  • Grant/award (code A): 220 RSUs granted at $0.00 (derivative award).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes of note:
  • F1: Each RSU equals the right to receive one share upon vesting.
  • F2: The 220-share award is non-employee director compensation under the 2025 Stock Incentive Plan and will vest in full at Casey's 2027 annual meeting.
  • F3: The 326-share award was non-employee director compensation under the 2025 Stock Incentive Plan and vested in full at Casey's 2026 annual meeting.
• Remarks: “Ex. 24 – Power of Attorney” listed on the filing.

Context

• In simple terms, a conversion/exercise (M) turns derivative awards into actual shares; this filing shows those converted shares were then disposed the same day. The 220 RSUs are a new director award that will vest later. The filing does not provide further detail (e.g., sale proceeds or reason for the disposition).