HERMAN MICHAEL R 4

What Happened

• Michael R. Herman, Senior Vice President and General Counsel of Regency Centers Corporation (REG), reported exercising/converting derivatives to acquire 7,459 shares on Feb 12, 2026. To satisfy tax withholding, 2,807 of those shares were surrendered/ sold at $73.40 per share for a cash value of $206,034. The filing also lists 630 shares and 6,291 shares shown as exercised/converted and disposed at $0, which relate to vesting and dividend-accrued shares (see footnotes).

Key Details

• Transaction date: February 12, 2026; Form 4 filed Feb 17, 2026 (filed 5 days after the transaction).
• Main entries:
  • Exercise/conversion (code M): 7,459 shares acquired (price N/A on form).
  • Tax withholding/payment (code F): 2,807 shares disposed at $73.40 = $206,034.
  • Exercise/conversion (code M): 630 shares disposed @ $0.00 (dividend-accrued shares that vested).
  • Exercise/conversion (code M): 6,291 shares disposed @ $0.00 (vesting of restricted stock).
• Shares owned after the transaction: not specified in the reported Form 4.
• Footnotes: The 630 shares include dividend-accrued shares that vested with the restricted stock. The filing corrects a previous underreporting of restricted stock by 538 shares and reflects the proper total as of Feb 17, 2026.
• Filing timeliness: The Form 4 was filed five days after the transaction date (potentially late relative to the usual 2-business-day deadline).

Context

• These entries reflect an option/derivative exercise and the routine surrender of shares to cover tax withholding (common when restricted stock vests or options are exercised). The reported sale was to meet tax obligations, not an open-market investment sale; such withholding/surrenders are typically administrative rather than a signal of sentiment.
• The $206,034 amount is the only cash value reported; other disposed entries at $0 relate to vesting/dividend-share accounting rather than a market sale.