SMERLING ROBERT F 4
4 · READING INTERNATIONAL INC · Filed Apr 21, 2026
Research Summary
AI-generated summary of this filing
Reading International (RDI) President Robert F. Smerling Receives 8,768 Shares
What Happened
Robert F. Smerling, President — U.S. Cinemas of Reading International, Inc. (RDI), had 8,768 restricted stock units (RSUs) fully vest on April 18, 2026 and those units were converted into 8,768 shares of Class A Non‑Voting Common Stock. The Form 4 reports the derivative conversion (transaction code M) with a $0.00 cash price — the shares are being delivered in accordance with the reporting person’s irrevocable deferral election (no open‑market sale).
Key Details
- Transaction date: April 18, 2026 (reported on Form 4 filed April 21, 2026).
- Transaction type: Conversion/exercise of derivative (M) — 8,768 RSUs converted to 8,768 shares. Disposal line shows $0.00 proceeds (no sale).
- Origin of award: These RSUs were part of a 46,763‑unit grant made April 18, 2022; 8,768 of those RSUs vested on April 18, 2026 (see footnotes).
- Shares owned after transaction: Not disclosed on the Form 4.
- Filing timeliness: Form 4 was filed April 21, 2026 (within the standard two business‑day reporting window for Form 4 filings in this case).
- Notes: F1–F3 explain that each RSU equals one share upon vesting, detail the 2022 grant schedule, and confirm delivery per an irrevocable deferral election.
Context
This was not a market purchase or sale — it was the routine vesting/conversion of previously granted RSUs into stock. Such conversions are standard compensation events for executives and do not, by themselves, indicate buying or selling intent in the open market.
Insider Transaction Report
- Exercise/Conversion
Class A Non-Voting Common Stock
[F1]2026-04-18+8,768→ 109,945 total - Exercise/Conversion
Restricted Stock Units
[F1][F2][F3]2026-04-18−8,768→ 0 total→ Class A Non-Voting Common Stock (8,768 underlying)
Footnotes (3)
- [F1]Each Restricted Stock Unit represents the contingent right to receive one share of Class A Non-Voting Common Stock upon vesting of the unit.
- [F2]As previously reported, a total of 46,763 restricted stock units were granted on April 18, 2022 pursuant to the Company's 2020 Stock Incentive Plan. Of that amount, (i) 35,072 restricted stock units vest in four equal annual installments on April 18, 2023, April 18, 2024, April 18, 2025 and April 18, 2026; and (ii) 11,691 performance-based restricted stock units (PRSU) vest on April 18, 2025 based on the Compensation and Stock Option Committee certification of the performance level achieved.
- [F3]8,768 restricted stock units are fully vested on April 18, 2026. The underlying shares of Class A Common Stock in Reading International, Inc. will be delivered to the reporting person in accordance with their irrevocable deferral election.