THAMAN MICHAEL H 4

What Happened
Michael H. Thaman, a director of UL Solutions (ULS), reported RSU activity on May 20, 2026. According to the Form 4, 2,805 restricted stock units (RSUs) vested and were converted/exercised (reported as a derivative transaction). The filing also shows a reported disposition of 2,805 derivative shares at $0 (reported as a derivative disposal). Separately, Thaman was granted 2,206 deferred restricted stock units (DRSUs) on the same date; all reported acquisitions/dispositions are shown with $0 value in the filing.

Key Details

• Transaction date: May 20, 2026; Form filed May 22, 2026 (two days later).
• Reported entries:
  • Exercise/conversion (M): 2,805 shares acquired (reported N/A for price/value).
  • Exercise/conversion (M) / Disposal: 2,805 shares disposed at $0 (reported as derivative).
  • Grant/Award (A): 2,206 DRSUs acquired at $0 (derivative).
• Shares owned after the transactions: not stated in the filing provided.
• Footnotes summary:
  • F1/F2: RSUs represent rights to one share each; these RSUs vested on May 20, 2026.
  • F3/F4: DRSUs likewise represent rights to one share each; they vest at the earlier of one year after grant or the next annual meeting and will be settled in shares per the Issuer’s Non-Employee Director Deferred Compensation Plan.
• Filing timeliness: filed May 22, 2026 (appears timely relative to the reported May 20, 2026 transaction).

Context

• Derivative explanation: The filing treats the vested RSUs as converted/exercised (derivative conversion). The reported $0 disposal of the same 2,805 derivative shares may reflect settlement mechanics (for example, share withholding to satisfy tax obligations), though the filing itself does not state the reason.
• These entries are awards/vesting and deferred awards — not open-market purchases or sales that typically signal trading sentiment.