Thoren Daniel J. 4

What Happened Daniel J. Thoren, Executive Chairman and Director of Graham Corp (GHM), had 5,543 restricted stock units (RSUs) convert into common stock on 2026-06-04. The RSU conversion is reported as an exercise/conversion of a derivative (code M) with an acquisition price of $0.00 per share. To satisfy tax withholding, 1,593 of those shares were withheld/disposed (code F) at $107.96 per share, totaling $171,980. Net shares added to his holdings from this vesting event: 3,950 shares.

Key Details

• Transaction date: 2026-06-04; Form 4 filed: 2026-06-08 (filed within the standard two-business-day window).
• Converted/issued: 5,543 shares (RSUs converted one-for-one into common stock; acquisition price $0.00).
• Withheld for taxes: 1,593 shares at $107.96 each, totaling $171,980 (reported as disposition to cover tax liability).
• Net new shares held by insider from this event: 3,950 shares (5,543 issued − 1,593 withheld).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes: F1 = RSUs convert one-for-one into common stock; F2 = shares were withheld to cover tax withholding; additional footnotes (F3–F5) describe the vesting schedules for these RSU grants.

Context This was a routine RSU vesting and conversion, not an open-market sale or purchase. The withholding of shares to cover taxes is a common, non-bullish technical step (a cashless tax withholding). The filing appears timely. For investors, purchases (open-market buys) can be more informative about insider sentiment; this report documents compensation-related vesting rather than a discretionary buy or sell.