WOOD TIMOTHY E 4

What Happened

• Director Timothy E. Wood had 1,058 restricted stock units (RSUs) convert into 1,058 shares on Jan 22, 2026 (reported on a Form 4 filed Jan 26, 2026). Of those, 265 shares were surrendered/withheld to satisfy tax withholding obligations at $22.51 per share, totaling $5,965. Net shares delivered to him were 793.
• The RSUs were converted (transaction code M — exercise/conversion of a derivative); the surrender/withholding is reported under code F.

Key Details

• Transaction date: January 22, 2026; Form 4 filed January 26, 2026 (filed timely).
• Shares converted: 1,058 RSUs → 1,058 shares.
• Tax withholding: 265 shares withheld at $22.51/share = $5,965.
• Net shares received: 793.
• Footnotes: F1 clarifies each RSU equals a right to one share. F2 shows these RSUs vest 25% on 7/24/2025, 10/23/2025, 1/22/2026 and 4/23/2026 — the 1/22/2026 date was a scheduled vesting date.
• No cash purchase was required (conversion of RSUs), and a portion of shares was surrendered for taxes (routine withholding).

Context

• This is a routine RSU vesting and tax-withholding event, not an open-market purchase or sale. The M-code reflects conversion of the derivative (RSU) into shares; the F-code reflects shares withheld to satisfy tax obligations. Such transactions typically reflect compensation settlement rather than a buy/sell signal.