Pack Michael E 4

What Happened
Michael E. Pack, Executive Vice President & President, Vocational at Oshkosh Corporation, exercised stock derivatives on Feb 17, 2026 and received a restricted stock unit (RSU) award on Feb 16, 2026. He exercised/converted 2,751.053 shares at an exercise price of $168.47 per share (exercise cost ≈ $463,470). To cover tax withholding related to the exercise, 1,317 shares were surrendered/withheld (disposed) with an indicated value of about $221,875. Separately, he was granted 5,553 RSUs under the company stock plan (no cash paid at grant).

Key Details

• Transactions and amounts:
  • 2026-02-16: Grant of 5,553 Restricted Stock Units (RSUs) (award entry, $0 at grant).
  • 2026-02-17: Exercise/conversion (code M) — 2,751.053 shares acquired at $168.47/share (total ≈ $463,470).
  • 2026-02-17: Tax withholding/payment (code F) — 1,317 shares disposed (withheld) valued ≈ $221,875.
  • Filing also shows a derivative conversion/disposition entry of 2,751.053 shares at $0, reflecting settlement mechanics of the transaction.
• Vesting notes: The RSU award is granted under the company stock plan and vests in one‑third annual increments per the filing’s footnotes (vesting commencement dates noted in the filing).
• Shares owned after the transaction: the filing does not list a single post‑transaction total; footnotes note beneficial ownership includes dividend reinvestments and ESPP shares (1,243.16 shares through 12/31/2025 plus earlier ESPP purchases).
• Timeliness: Report filed 2026-02-18 for transactions on 2/16–2/17/2026 — appears timely under Section 16 reporting rules.
• Transaction codes: M = exercise/conversion of derivative; F = shares withheld/surrendered to satisfy tax obligations; A = award/grant.

Context

• This was an option/derivative exercise and an RSU grant — exercises and related withholding are common executive compensation events and do not necessarily signal a buying conviction the same way open‑market purchases do. The withholding of shares to cover taxes is a routine cashless/net settlement step.
• RSUs awarded will generally vest over time (here, in thirds), so those shares are subject to future vesting conditions and not immediately liquid for the executive.