Brennan Daniel J. 4

What Happened
Daniel J. Brennan, a director of Waters Corporation (WAT), was granted 23 restricted shares of common stock and a derivative award covering 57 shares on February 25, 2026. Both acquisitions are reported at $0.00 (no cash paid). The 23 shares are restricted stock; the 57-share item is an option/derivative award (not an exercise).

Key Details

• Transaction date: February 25, 2026; Form 4 filed February 27, 2026 (filed within the typical two-business-day reporting window).
• Grants: 23 restricted shares at $0.00 (total $0) and a 57-share derivative/option award at $0.00 (total $0).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: F1 — the 23 restricted shares vest 100% on February 9, 2027. F2 — the 57-share option will vest and become exercisable on February 9, 2027.
• Transaction code: A = Award/Grant (acquisition). No 10b5-1 plan, tax-withholding, or sale reported in the excerpt.

Context
This filing reports director compensation (restricted stock and an option grant), not an option exercise or open-market trade. Restricted shares and director option grants are common components of board compensation and do not by themselves indicate immediate buying/selling intent. The option grant creates the right to acquire shares in the future once it vests; it is not an immediate purchase or sale.