OAKLAND STEVEN 4

What Happened

• Director Steven Oakland had 2,626 restricted share units (RSUs) vest and convert into the issuer's common stock on May 7, 2026 (reported as an exercise/conversion of a derivative, acquired at $0). On the same date he also received 22.9 shares in lieu of a cash dividend. Additionally, he was granted 1,746 new RSUs as part of the issuer's annual equity grant (reported as an award/derivative acquisition).
• All reported acquisitions were non-cash equity compensation (values listed as $0 or N/A). There were no open-market purchases or sales reported in this filing.

Key Details

• Transaction date(s): May 7, 2026 (filed May 8, 2026).
• Items reported:
  • 2,626 shares acquired via exercise/conversion of derivative (RSUs) at $0.00 (vesting conversion).
  • 22.9 shares acquired in lieu of cash dividend (F1) at $0.00.
  • 1,746 RSUs granted (derivative units), reported with N/A price (unvested).
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1: 22.9 shares were issued in lieu of a cash dividend.
  • F2/F3: The 2,626 units were RSUs granted Aug 22, 2025 that vested on May 7, 2026 (each RSU = right to one share).
  • F4: The 1,746 RSUs were granted May 7, 2026 as the annual director grant and vest one year from grant.
• Timeliness: Filing was submitted the day after the transaction (May 8 for May 7), which is within the Form 4 reporting window.

Context

• The exercise/conversion reported here reflects RSUs vesting into common shares (not a cash purchase or open-market sale). The newly granted RSUs are unvested and will convert to shares only after their one-year vesting period.
• Shares issued in lieu of dividends are an administrative adjustment to compensation and do not indicate an open-market buying or selling decision.
• This activity appears to be routine equity compensation for a director rather than a trade-based signal of personal market conviction.