Glastra Matthijs 4

What Happened Matthijs Glastra, CEO of Novanta Inc. (NOVT), converted 7,825 performance stock units (PSUs) into common shares on February 19, 2026. Of those shares, 3,784 were withheld to satisfy tax withholding at $144.93 per share (payment recorded as $548,415). The PSU grant was fixed based on 58.4% achievement of the performance target set when the award was granted in February 2023.

Key Details

• Transaction date: February 19, 2026 (Form 4 filed Feb 23, 2026 — filed within required timeframe).
• Conversion/Exercise: 7,825 shares acquired via conversion of PSUs (derivative exercise; price N/A).
• Shares withheld for tax/payment: 3,784 shares disposed at $144.93 each, total ~ $548,415 (coded F for tax/withholding).
• Implied net shares delivered to insider: 7,825 − 3,784 = 4,041 shares (net figure computed from the filing).
• Footnotes: F1 — each PSU converts to one common share on vesting; F2 — the award was fixed at 58.4% of target upon Compensation Committee ratification.
• Power of Attorney is on file. The Form 4 does not disclose total shares owned by the insider after this transaction.

Context This was a conversion/vesting of performance-based restricted units rather than an open-market buy or voluntary sale. The withholding of shares to cover taxes (common for vested awards) is a routine administrative transaction and does not by itself signal a buy or sell sentiment. For options/derivative exercises like this, the key takeaway for investors is the net increase in the insider’s shareholdings (approximately 4,041 shares received).