Butcher Andrew 4

What Happened
Andrew Butcher, CEO of LUXFER HOLDINGS PLC (LXFR), had performance- and time-based restricted stock units (RSUs/PSUs) vest on March 17–18, 2026 and those awards were converted into ordinary shares. He received a total of 188,551 shares from the conversions and sold 105,706 shares to satisfy tax withholding, at prices of $11.80–$11.82 per share, yielding $1,249,330 in cash. The transactions are recorded as exercises/conversions (code M), awards/grants (code A), and tax-withholding disposals (code F).

Key Details

• Transaction dates: March 17–18, 2026; Form 4 filed March 19, 2026 (timely).
• Shares received (vested/converted): 188,551 shares (sum of 10,252; 89,823; 76,208; 12,268).
• Shares sold for tax withholding: 105,706 shares (5,749; 50,356; 42,723; 6,878) at $11.80–$11.82, total proceeds $1,249,330.
• Net shares retained after withholding: ~82,845 shares (188,551 received − 105,706 sold).
• Notable footnotes:
  • $1 nominal payment per share in connection with certain conversions (1-for-1, F1).
  • Some shares represent 25% vesting of RSUs granted March 17, 2025 (F2) and March 18, 2024 time-based RSUs (F7).
  • Several grants were performance-based PSUs (awarded March 18, 2024) that vested 100% on March 18, 2026 after achievement of EPS growth and relative TSR goals (F3–F6).
• Filing timeliness: Form filed March 19, 2026 — appears timely (no late filing flag).
• Shares owned after the transactions: not specified in the provided filing details.

Context
These transactions reflect vesting and conversion of RSUs/PSUs with a portion of shares sold to cover tax obligations (routine tax-withholding/cashless settlement), rather than open-market purchases or discretionary sales. Such withholding sales are common after awards vest and do not by themselves indicate a buying or selling signal about the CEO’s view of the company.