Malmen Jeffrey L 4

What Happened

• Jeffrey L. Malmen, Senior Vice President of Public Affairs at IDACORP (IDA), received 4,957 shares on 2026-02-20 as the payout of performance-based units for the 2023–2025 performance period. These shares were received for no consideration (i.e., a performance award).
• To satisfy tax withholding, 2,215 of those shares were surrendered/withheld at $139.89 per share, yielding proceeds/value of $309,856. On the same date he was also granted 1,354 restricted stock units (RSUs) (derivative award) with no immediate cash value; each RSU represents a contingent right to one share that vests on January 1, 2029.

Key Details

• Transaction date: 2026-02-20; Form 4 filed: 2026-02-24 (filing appears timely for a 2/20 transaction).
• Performance shares acquired: 4,957 shares (received for no consideration upon satisfaction of performance criteria for 2023–2025).
• Shares withheld for taxes: 2,215 shares at $139.89/share = $309,856 (code F — tax withholding/payment).
• RSU grant: 1,354 restricted stock units (each equals one share); vesting date January 1, 2029.
• Shares owned after the transaction: not specified in the filing provided.

Context

• This was primarily an award payout (A) from performance-based units, not an open-market purchase or sale indicating trading sentiment. The withholding of 2,215 shares to cover taxes is a common administrative step and not a separate market sale decision.
• The 1,354 RSUs are a derivative grant that will convert to stock only if/when they vest (Jan 1, 2029), so they do not increase current voting/transferable shares until vested.