Turner Christopher Lee 4

What Happened
Turner Christopher Lee (CEO, Chairman of the Board, Director) exercised/converting derivatives on 2026-02-11, resulting in the acquisition of 1,382 shares at an exercise price/value of $159.06 per share (total $219,821). To satisfy tax withholding, 548 shares were surrendered/disposed at $159.06 per share (value $87,165). The filing also shows a conversion/disposition of 1,382 derivative units at $0, which the footnotes tie to restricted stock unit (RSU) treatment.

Key Details

• Transaction date: 2026-02-11; exercise price/value reported: $159.06 per share.
• Acquired: 1,382 shares (exercise) — $219,821 total.
• Disposed (tax withholding): 548 shares — $87,165 total.
• Additional line: 1,382 shares reported as converted/disposed at $0 (see footnotes on RSUs).
• Footnotes: F1 = each RSU converts to 1 share; F2 = vesting 25% per year from grant; F3 = final distribution over four years, no expiration specified.
• Shares owned after the transactions: Not specified in the provided filing.
• Filing timeliness: Report filed 2026-02-12 for transactions on 2026-02-11 (appears timely).

Context
This looks like an option/derivative exercise with shares withheld to cover tax obligations (a routine, non-open-market sale to satisfy taxes), rather than a discretionary secondary-market sale. The RSU-related footnotes indicate some of the reported derivative activity involves vested RSUs converting to shares; the $0 line likely reflects conversion/settlement accounting rather than a cash sale.