Hancock Lynn H 4

What Happened
Lynn H. Hancock, Executive Vice President & Chief Transformation Officer of UL Solutions (ULS), exercised options on March 1, 2026 to acquire 7,940 shares at an exercise price of $13.15 per share (total cash paid $104,411). As part of the same transaction, 3,774 shares were withheld to satisfy tax withholding obligations at $83.97 per share (value withheld ≈ $316,903). The filing also lists the derivative conversion of 7,940 units into common shares (reported as disposed at $0, reflecting the option-to-share conversion).

Key Details

• Transaction date: 2026-03-01; Form 4 filed: 2026-03-03 (filed timely).
• Option exercise (code M): 7,940 shares acquired at $13.15 each — $104,411 total exercise price.
• Tax withholding (code F): 3,774 shares withheld/disposed at $83.97 each — ≈ $316,903 value withheld to cover taxes.
• Derivative conversion: 7,940 units converted into shares (reported with $0 price as part of the exercise).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Notable: the F code indicates shares were withheld to satisfy tax obligations (common in option exercises).

Context
This was an option exercise with a partial net settlement for taxes: the options were converted into shares, and a portion of those shares was withheld to cover tax liabilities rather than selling on the open market. Such withholding is routine and does not necessarily indicate a directional view on the stock.