Uggetti Alberto 4

What Happened

• Alberto Uggetti, Executive Vice President & Chief Commercial Officer of UL Solutions (ULS), had 1,132 restricted stock units convert to common shares on May 1, 2026. To cover tax withholding, 268 of those shares were surrendered at an implied value of $88.03 per share, totaling $23,592.
• This was not an open-market buy or sell by the insider; it was the scheduled vesting/conversion of RSUs with shares withheld to satisfy tax obligations.

Key Details

• Transaction date: 2026-05-01 (reported on Form 4 filed 2026-05-05).
• Conversion/exercise code: M (exercise or conversion of derivative — RSU conversion). Tax withholding code: F (payment of exercise price or tax liability).
• Shares converted: 1,132 RSUs → 1,132 shares. Shares withheld for taxes: 268 shares at $88.03 each = $23,592 (rounded).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes: F1–F3 indicate these are restricted stock units (one RSU = one share), vest in three equal installments on the 1st/2nd/3rd anniversaries of May 1, 2024, and include any accrued dividend equivalents.
• Filing timing: Form 4 filed May 5 for a May 1 transaction — appears timely (within the standard reporting window).

Context

• This was a routine RSU vesting event, not an active buy or open-market sale. The withholding of 268 shares is a common cashless method to cover tax withholding rather than a sale on the open market; it does not necessarily signal a change in the insider’s investment view.
• The derivative code M here reflects conversion of RSUs to shares rather than exercise of stock options; total net shares received by the insider equals the converted shares minus withheld shares.