PEPPING KAREN K 4

What Happened
Karen K. Pepping, Senior Vice President and Chief Accounting Officer of UL Solutions (ULS), was granted two separate awards on March 12, 2026: 2 restricted stock units (RSUs) in each grant, for a total of 4 RSUs. Each RSU represents a contingent right to one share of Class A common stock; the grants show a $0.00 acquisition price because these are compensation awards (derivative securities), not open‑market purchases.

Key Details

• Transaction date: March 12, 2026 (reported on Form 4 filed March 16, 2026). Filing appears timely (filed within the 2 business‑day window).
• Grants: Two entries of 2 RSUs each (total = 4 RSUs); reported acquisition price $0.00.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote highlights:
  • F1: Each RSU converts to one share upon settlement.
  • F2/F3/F5: Dividend equivalent rights accrue on the RSUs and vest proportionately with the underlying RSUs. One set of RSUs vests in three equal annual installments beginning May 1, 2024 (F3); another set vests in three equal annual installments beginning April 1, 2025 (F5). F4 summarizes included RSUs and accrued dividend equivalents.
• Transaction type code: A (award/grant); derivative award rather than purchase or sale.

Context
RSU grants are a common form of executive compensation and represent potential future issuance of shares as they vest; they do not represent an immediate cash purchase or sale. Dividend equivalent rights noted in the footnotes accrue and will be paid or converted following the same vesting schedule. Because these are awards (not open‑market buys), they should be interpreted as compensation-related rather than direct insider investing activity.