Stein Merle A 4

What Happened

• Merle A. Stein, President, reported automatic vesting/cash settlement of multiple Phantom Stock Units and Restricted Stock Units on March 1, 2026. The filing shows deemed acquisitions (conversion of derivatives) followed by dispositions to the issuer at $57.65 per share. Key disposals/withholdings: 360 shares ($20,754), 302 shares ($17,410), 651 shares ($37,530), 521 shares ($30,036) and 656 shares withheld for taxes ($37,818) — totaling about 2,490 shares and ~$143,548.
• Footnotes clarify these were cash settlements of phantom units and vesting of RSUs; no open‑market sale occurred and no physical shares were actually issued or sold by the reporting person (the transactions are deemed acquisitions/dispositions for accounting/tax withholding).

Key Details

• Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (appears timely). Transaction price used for settlement/withholding: $57.65 per share.
• Aggregate reported proceeds/withheld value: ≈ $143,548 across the listed withholdings/dispositions. Individual line items: 360 @ $57.65 = $20,754; 302 @ $57.65 = $17,410; 651 @ $57.65 = $37,530; 521 @ $57.65 = $30,036; 656 @ $57.65 = $37,818.
• Shares owned after transaction: not disclosed in the provided excerpt of the filing.
• Notable footnotes: F1 explains deemed acquisition/disposition upon automatic vesting and cash settlement of Phantom Stock Units — no actual shares issued or sold; other notes (F10–F18, F5–F9, F13–F17) detail the original grants and scheduled vesting for the phantom units and RSUs. F4/F11–F16 reference tax withholding and grant plans.
• Transaction codes: M = conversion/exercise of derivative (phantom/RSU vesting), D = disposition to issuer (cash settlement/withholding), F = payment of tax liability (shares withheld).

Context

• These transactions are not open‑market purchases or voluntary insider sales: they reflect automatic vesting and cash settlement of company awards (phantom stock and restricted stock units) and withholding to satisfy taxes. For retail investors, that means this filing documents routine compensation settlements rather than a CEO-initiated market sale or purchase that would signal a trading opinion.