MONAGLE DJ III 4

What Happened
Group President Monagle DJ III had 3,492 DRSUs convert into common shares on January 21, 2026 (reported on a Form 4 filed 2026-01-23). Of the 3,492 shares delivered on vesting, 2,036 shares were withheld by the company to satisfy tax-withholding obligations at $66.92 per share, a withholding value of $136,249. Net shares retained by the insider after withholding: 1,456 shares. This was an award vesting/conversion event (not an open-market purchase or voluntary sale).

Key Details

• Transaction date: 2026-01-21; Form 4 filed: 2026-01-23 (filed within standard Form 4 timing)
• Acquired: 3,492 shares via exercise/conversion of DRSUs at $0.00 (code M)
• Withheld (disposed) for taxes: 2,036 shares at $66.92 → $136,249 (code F; footnote F1)
• Net shares delivered to insider: 1,456 shares (3,492 − 2,036)
• Shares owned after transaction: not stated in the provided excerpt
• Footnotes of note:
  • F1: Shares withheld to satisfy tax withholding.
  • F3: Each DRSU equals one share of common stock.
  • F4: These DRSUs were granted Jan 21, 2025 and vest in three equal annual installments beginning Jan 21, 2026.
  • F2: Report is based on a Plan Statement dated Jan 21, 2026.

Context
DRSUs (deferred restricted stock units) convert to actual shares when they vest; this filing reflects the first annual vesting installment from a Jan 21, 2025 grant. The withholding of shares to cover taxes is a routine, administrative step (a partial cashless settlement) and should not be interpreted as an independent decision to sell shares in the market. Transaction codes: M = exercise/conversion of derivative (DRSU), F = payment of tax liability via share withholding.