SARTINI BLAKE L 4

What Happened

• On Feb 27, 2026, Blake L. Sartini (reported as a 10% owner) had multiple derivative exercises/conversions and restricted stock unit (RSU/PSU) awards settle. The filing shows awards/grants and conversions totaling 221,141 shares (68,367 + 62,057 awarded; 15,229 + 31,655 + 19,696 + 24,137 converted/exercised). To cover tax withholding obligations, 35,720 shares were disposed (withheld) at $28.90 per share, yielding $1,032,308. Many of the reported movements are recorded as derivative/award transactions (price $0.00) reflecting vesting/conversion rather than open-market purchases.

Key Details

• Transaction date: Feb 27, 2026 (filing date same day).
• Withheld/disposed shares: 35,720 shares at $28.90 → $1,032,308 (tax withholding/payment).
• Awards/grants reported: 68,367 and 62,057 RSUs/PSUs (derivative awards recorded at $0.00).
• Conversions/exercises reported: 15,229; 31,655; 19,696; 24,137 shares (various M-code derivative exercises/conversions).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: RSUs/PSUs convert one-for-one to common stock (F1, F4); shares were withheld to satisfy minimum statutory tax withholding (F2); some shares are owned by The Blake L. Sartini and Delise F. Sartini Family Trust (F3). Time-based RSUs vest according to schedules (F5, F8); PSUs from March 14, 2025 are earned and vest March 14, 2028 (F6); dividend-equivalent shares were also issued and follow original vesting terms (F7).

Context

• This activity reflects vesting/conversion of equity awards and tax-withholding (a common practice when RSUs/PSUs vest), not an open-market sell driven by portfolio rebalancing. The 35,720-share disposition was to satisfy tax obligations (transaction code F), effectively a cashless withholding. As a reported 10% owner, Sartini is a principal shareholder; these filings document compensation-related equity events rather than an outright buy or voluntary sale in the open market.