Torstad Elisabeth 4

What Happened
Elisabeth Torstad, a director of UL Solutions Inc. (ULS), received awards of deferred restricted stock units (RSUs) on March 12, 2026. The filing shows two derivative grants: 8 deferred RSUs and 4 deferred RSUs, each acquired with $0 cash consideration (total 12 RSUs). These are contingent rights to receive shares of the issuer’s Class A common stock rather than immediate share purchases.

Key Details

• Transaction date: 2026-03-12; Form 4 filed 2026-03-16 reporting the grants. (No late-filing flag provided in the supplied data.)
• Grant amounts: 8 RSUs (derivative, $0) and 4 RSUs (derivative, $0) — total 12 deferred RSUs.
• Transaction type: A = Award/Grant (derivative securities), not an open-market purchase or sale.
• Economic value reported: $0 cash paid at grant (these are compensation awards, not purchases).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note:
  • Each deferred RSU equals a contingent right to one share (F1).
  • Dividend equivalent rights accrue on the deferred RSUs and vest proportionately (F2, F3, F5).
  • Some deferred RSUs referenced vested May 1, 2025 and are expected to be settled in shares at the reporting person’s election under the Non‑Employee Director Deferred Compensation Plan (F3). Other RSUs will vest the earlier of May 20, 2026 or the date of the annual meeting following the grant and are similarly expected to be settled in shares (F5).

Context

• Deferred RSUs are compensation awards that convert into stock (or cash in some plans) upon vesting/settlement; they are typical director compensation and do not represent an immediate cash purchase or sale.
• Dividend equivalent rights add value by mirroring dividends while units are outstanding; these rights vest with the underlying RSUs.
• Because this is an award (not a purchase or sale), it should be interpreted as compensation, not necessarily as a personal bullish or bearish trade by the director.