Jacobsen Matthew T 4

What Happened
CFO Matthew T. Jacobsen exercised/conversion of 2,729 derivative shares on Feb 24, 2026, and had 1,274 shares withheld to satisfy tax obligations (payment = $30,232 at $23.73/share). The filing also reports new equity awards granted the same day: 17,976 time‑based RSUs and 41,944 performance‑based PSUs. The exercises and tax withholding are routine compensation-related transactions rather than an open‑market sale.

Key Details

• Transaction date: February 24, 2026; Form 4 filed Feb 26, 2026 (appears timely).
• Derivative exercises/conversions: 603 shares and 2,126 shares (total 2,729 shares).
• Tax withholding (Disposition code F): 282 shares for $6,692 and 992 shares for $23,540 (totaling $30,232), representing shares surrendered to cover tax liabilities at $23.73/share.
• Net shares added (post-withholding): 2,729 exercised − 1,274 withheld = +1,455 net shares acquired.
• New grants: 17,976 RSUs (time‑based; vesting per footnote F4) and 41,944 PSUs (performance‑based; target PSUs per footnote F6).
• Footnotes: RSUs convert to common stock upon vesting (F1); several RSU grants have multi‑year vesting schedules (F2–F4); PSUs vest subject to performance metrics (F5–F6).
• No 10b5‑1 plan or late‑filing indication disclosed in the filing.

Context

• The derivative entries (code M) indicate conversions/exercises rather than open‑market purchases or discretionary sales. The shares withheld (code F) reflect tax withholding — a common administrative step following exercises or vesting.
• RSUs and PSUs are awards that vest in future periods (time‑ or performance‑based) and do not represent immediately tradable shares until vesting occurs.
• These transactions are typical compensation and tax‑related actions by an executive and should not be read as a standalone bullish or bearish signal.