Ale John C. 4

What Happened
Director Ale John C. completed an option exercise and received a restricted share unit (RSU) award. On 2026-03-07 he exercised/converting derivative securities to acquire 1,082 shares at an effective price/value of $184.73 per share (total ~ $199,878). The filing also shows a reported disposition of 1,082 derivative shares on 2026-03-07 at $0.00 (see Key Details for explanation). On 2026-03-06 he was granted 920 restricted share units valued at $184.73 per share (total ~ $169,952).

Key Details

• Transactions:
  • 2026-03-07: Exercise/conversion (code M) — acquired 1,082 shares @ $184.73; total ~$199,878.
  • 2026-03-07: Exercise/conversion (code M) — disposed 1,082 shares @ $0.00; total $0.
  • 2026-03-06: Grant/award (code A) — 920 restricted share units @ $184.73; total ~$169,952 (derivative).
• Shares owned after transaction: Not disclosed in the provided data.
• Footnotes:
  • F1: Each restricted share unit (RSU) represents a contingent right to one common share.
  • F2: RSUs will vest one year from the award date and be distributed to the filer.
  • F3: RSUs vested and were delivered to the reporting person one year from the date of grant.
• Filing info: Form 4 filed 2026-03-10 covering activity dated 2026-03-06/03-07. No late-filing flag was provided in the supplied details.

Context

• For retail investors: an “exercise” (M) means the insider converted derivative rights (options or similar) into actual shares. A reported disposal at $0.00 commonly reflects shares surrendered or withheld (for example, to cover taxes or exercise costs), though the filing’s footnotes should be used to confirm the reason.
• The 920-item entry is an RSU award (a contingent right to receive shares) and typically vests per the footnote schedule; RSUs are not the same as open-market purchases and reflect compensation, not a market signal.
• This activity involves a company director (not a 10% owner). Purchases and exercises show the insider received stock, while the zero-dollar disposition likely relates to administrative/tax mechanics rather than a market sale.